21 November 2011
The Ministry of Finance of the Russian Federation has granted VTB a RUB 500 million state guarantee for a loan issued to CNIRTI (A.I. Berg Central Research Institute of Radiotechnics).
This is the first guarantee issued in accordance with the Decree of the Russian Government No. 1215 dated 31 December 2010 “On providing state guarantees of the Russian Federation for loans borrowed by defense industry companies for executing government defense order in 2011”. The guarantee agreement was prepared on the Bank’s part by Public and Defense CRM Department headed by Valery Lukyanenko, member of VTB Bank Management Board.
On providing state guarantees of the Russian Federation for loans borrowed by defense industry companies for executing government defense order in 2011
member of VTB Bank Management Board
“Cooperation with the defense industry sector is a priority for VTB. We have enjoyed long-standing, mutually beneficial cooperation with many companies operating in this sector, which is due to individual approach to every customer and deep knowledge of the industry by the Bank’s employees”, Valery Lukyanenko said. Over the past three years, VTB defense industry loan portfolio increased 4.5 times, and the volume of customer deposits from this sector grew more than 5 times.
Federal Unitary Enterprise CNIRTI is a scientific research organization, specializing in aviation and space radio monitoring and radioelectronic warfare. The institute is subordinated to the Federal Space Agency, and is on the list of strategic backbone enterprises.
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