Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

VTB Bank Operates in Normal Mode Despite Sanctions
20.08.2014 17:09
VTB Bank Operates in Normal Mode Despite Sanctions
Photo Credit:

VTB Bank has extended a RUR 700 million seven-year credit facility to Merletto, a major regional confectionary and sausage producer. Merletto is expected to expand confectionary production, build new storage facilities and increase its working capital.

      VTB has worked with Merletto since 2012, providing the company with financing and cash management services.

      State-run VTB Bank has been hit with the EU sanctions but has continued to operate.

      In a comment published on the corporate website, Deputy President and Chairman of the VTB Bank Management Board Mikhail Oseevsky praised the deal saying that “loans enable companies like Merletto to implement high-value projects to expand and upgrade production and purchase modern equipment."

      Merletto is a large confectionary and sausage manufacturer. “The company launched its sausage production in 1998, and has been producing confectionary since 2008. Merletto is able to produce up to 50 tonnes of chocolate sweets and bars per day, its sausage production capacity is over 60 metric tons per day,” says the official press release.


Author: Mikhail Vesely

Tags: EU sanctions Russian sanctions Crimea VTB bank  

Next Previous

You might also find interesting:

The Number of Individual Entrepreneurs in Russia has Exceeded the Number of Companies
The Government will be Able to Increase Export Duties on Oil Products
The Most Popular Online Services for Entrepreneurs
SME in Moscow Received over 27.7 Billion Rubles of Loans with State Guarantee Support in 2018
Tele2 is Becoming the Most Popular Corporate Business Provider in Russia

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Alexey Navalny  Festivals in Moscow  Monuments in Moscow  Samara Region  Barnaul  Bone Carving  Project Financing Bank  investment  Russian Literature  Karachay-Cherkessia  St. Petersburg  Kirov Region  Moscow  IT market in Russia  Russia-South Korea  Russia international  Russian media  agriculture  Russian tourism  Russian rouble  Russian history  Russian society  Russian hockey players  Dmitry Solovyov  Electronic Atlas   Exhibitions in Moscow  scientific attestation  Facebook  Legal Services in Russia  Russian sailors  Russia visa-free   Pharmaceutical Garden  Mikhail Bulgakov  St. Petersburg Guest Card  Golden Ring  Treasures  Russian business  Taganka Theatre  Vladivostok  Mercedes-Benz Fashion Week Russia  Russian mobile operators  Fast Neutron Reactor  health  weather in Russia  tobacco market  famous Russian people  Russian musicians  Russian Cinema  Peterhof  Roman Abramovich 

Travel Blogs
Top Traveling Sites