Promsvyazbank says issues 1st gold loan to business

MOSCOW, Nov 30 (PRIME) -- Russia’s Promsvyazbank has issued its first gold loan to a company with the amount of 100 kilograms, the bank said in a statement on Thursday.

“Promsvyazbank has provided the first loan in gold to a gold producing company in the Zabaikalsky Region. The amount of the 1-year loan exceeded 100 kilograms of the precious metal,” the bank said.

The interest payments and the redemption of the loan will be done in gold as well, which is good for a gold producer because it allows the borrower to ensure its financial stability, the bank said.

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