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Gazprombank opens low-cost lender for small businesses

AO Gazprombank launched an online, low-cost lender that will focus on providing services to small and micro-sized companies.

Operated by Gazprombank unit Credit Ural Bank JSC, the new lender will initially offer services to clients based in Moscow, St. Petersburg, Novosibirsk and several other cities, and Gazprombank plans to expand its coverage to all Russian cities with a population of over 1 million people by the end of 2019.