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: http://ukrbankinfo.narod.ru

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:








Comment on our site


RSS   twitter      submit



TAGS:
Bells  Karachay-Cherkessia  Battle of Kulikovo  Kulebaki  Legends  library  Russian businessmen  Kazan  Fairs in Moscow  Samara Oblast  Olga Della-Vos-Kardovskaya  Ivan Turgenev Museum  Yevgeny Vakhtangov  Sochi Olympic Games 2014  Russian programmers  Boris Andreyev  Republic of Ingushetia  Russian business  Russian scientists  Russian Cinema  St. Petersburg  Russian science  Heroism   Russian aviation  Russian tourism  Glonass-M Satellite  Russian economy  Pushkin Museum of Fine Arts  Unusual Monuments  Adler  Christmas  Irkutsk Region  Alaska  Alexander Akilov  Russian circus  accident  Mercedes-Benz Fashion Week Russia  contemporary art  Rostov-on-Don  Exhibitions in Moscow  Christie's  Mikhail Kutuzov Cruiser   Stay Home Online Events  Moscow  Classical Music  sanctions  New Opera Theatre  Festivals in Moscow  the Novosibirsk region  Yury Roerich 


Travel Blogs
Top Traveling Sites