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:

The Russian Sistema_VC Fund Invested in the DataSine Project that is Engaged in Personalizing Content for Customers
24.02.2019
Russia Can Tighten Control over the Activities of Foreign Payment Services
18.12.2018
American Marketplace iHerb Opens a Division in Russia
21.11.2019
StartersHub will Support Startups from Russia and Eastern Europe
12.12.2019
The Number of Individual Entrepreneurs in Russia has Exceeded the Number of Companies
25.04.2019







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
travel to Russia  Roman Abramovich  Russian Cinema  Lialia Kuznetsova  Gay  Boris Nemtsov  Russian hotels  Bolshoe Toko  Cars  Sergey Lavrov  Ballets in Moscow  Grigory Bobrovsky  Sheremetyevo  Anton Siluanov  Russian designers  terrorist organizations  Armory Chamber of Moscow Kremlin  EU sanctions  Golden Ring  Arkhangelsk region  Film Festivals  Russian cities  Solovki  Exhibitions in Moscow  driving in Russia  Popular print  Russian sanctions   Russian gas  Kizhi  Russian tourism  Ministry of Foreign Affairs   Festivals in Moscow  Mercedes-Benz Fashion Week Russia  Tractor  Russian business  Russian religion  aircraft  Museums of Moscow  Russia international  Russian regions  Ilya Ponomarev  Andrey Belousov  St. Petersburg  Moscow  Russian art  Pavel Grachev  Russian oligarchs  Konstantin Sonin  Airbus A321 Crash  Khoomei 


Travel Blogs
Top Traveling Sites