Vneshtorgbank has signed a Framework Credit Agreement on short and medium term financing with DZ BANK AG (Deutsche Zentral-Genossenschaftsbank),
The signing of this agreement is the next successful step by Vneshtorgbank in realizing its strategy to support Russian industrial enterprises which are carrying out long-term projects on modernization and the creation of new capacities. The expansion of inter-bank cooperation and Vneshtorgbank`s use of various bank tools for the fullest maintenance of clients` activities will promote the further strengthening and development of economic relations between the
Within the agreement with DZ BANK AG, Vneshtorgbank has already provided financial means for a contract of one of its largest clients in the fuel and energy industry worth 13 million USD.
Reference: DZ BANK AG Deutsche Zentral-Genossenschaftsbank,
It was formed as a result of the merger in 2001 of DG Bank Deutsche Genossenschaftsbank AG and GZ Bank AG Frankfurt/Stuttgart. Its basic shareholders are credit cooperative societies (Volks- and Raiffeisenbanken) which own 80.9 % of the capital.
DZ BANK AG occupies fifth place in