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:

Technical Recession in the Russian Economy is Predicted
Negotiations between Alibaba and Group on the Establishment of a Joint Venture are at an Advanced Stage
The Vkusvill Chain of Stores is Discussing the Possibility of an IPO
The Tax Code will be Supplemented by the Chapters on Non-tax Payments
Tinkoff Bank - the Best Online Retail Bank

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Festivals in Moscow  Russian Seasons  Rurik  Business in Russia  Sergei Obraztsov  Russian tourism  Russian spacecrafts  Mikhail Bobyshov  Mariinsky theatre  Nafta Moskva  German Art  travel to Russia  Sochi Olympic Games 2014  astronomy in Russia  St. Petersburg  Murmansk Region  Moscow attractions  Rock Music  Musicals in Moscow  Russian Avant-Garde  Exhibitions in Moscow  Sergey Ivanov  hotel networks  New Year  Mercedes-Benz Fashion Week Russia  Russian business  Russian Cinema  Russian reforms  Moscow  Russia-Britain  biology  Architecture Monuments  business  Russian football team  Russian regions  Sergey Shekhovtsov  Nevyansk  Russian parliament  Far East  Gazprom  Korsakov   Kizhi  Blagoveshensk  Fairs in Moscow  Lukoil   Andrei Roiter  shopping in Yekaterinburg  Robots  Russian scientist  Opposition 

Travel Blogs
Top Traveling Sites