VTB Bank’s branch in Arkhangelsk has opened a non-revolving credit line worth RUB 1.5 bln for Titan LLC for a period of seven years.
The company will use the loan to finance part of the expenditures on the construction of a shopping and entertainment centre in Arkhangelsk with a total footprint of 60,598 square metres, including office premises and catering facilities.
The Arkhangelsk branch of VTB Bank is located in the zone of responsibility of the bank’s North-Western Regional Centre (NWRC), which was established on the basis of Bank VTB North-West. The NWRC is responsible for developing the group’s corporate banking business in north-west Russia, and manages VTB Bank’s branches in St Petersburg, the Leningrad, Arkhangelsk, Vologda, Pskov, Kaliningrad, Novgorod, Murmansk and Kirov Regions, and the Republics of Komi and Karelia.
Titan LLC is a unit of the Titan group of companies, one of the largest timber holding companies in Russia’s north-west, with the majority of enterprises located in the Arkhangelsk Region.