VTB Bank has approved a RUB 11.3 billion loan tranche for TransFin-M leasing company as part of a loan facility with a total limit of RUB 19.5 billion. TransFin-M will use the funds to finance future growth.
We welcome the development of the long-term partnership between VTB and TransFin-M, one of Russia’s largest leasing companies. VTB is ready to offer TransFin-M the investment and banking services necessary for its successful development aimed at modernising Russia’s transport industry.
«We welcome the development of the long-term partnership between VTB and TransFin-M, one of Russia’s largest leasing companies. VTB is ready to offer the investment and banking services necessary for its successful development aimed at modernising Russia’s transport industry.»
First Deputy President and Chairman of VTB Bank Management Board
«VTB Bank is a strategic partner of our company. By issuing us a loan it has confirmed its trust in our company and its positive assessment of our financial achievements, development strategy and risk management methods. We have used the loan funds to buy open cars. The current surplus of rolling stock on the market and falling prices of open cars offer the chance to form a reliable asset portfolio at low prices. We take a positive long-term view of this market segment.»
VTB Bank and its subsidiaries (VTB Group) are the leading financial group in Russia, offering a wide range of banking services to clients in Russia, the CIS, Western Europe, North America, Asia and Africa. VTB Group has a network of outlets across Russia, the CIS and Europe.
In Russia VTB Group operates through one parent bank (VTB Bank) and five subsidiary banks. The largest of these are Bank VTB 24, Bank of Moscow and TransCreditBank.
Outside Russia the Group operates through 15 subsidiary banks in the CIS countries, including Armenia, Ukraine (two banks), Belarus (two banks), Kazakhstan and Azerbaijan, in Europe (Austria, Cyprus, Germany, France, the UK and Serbia), Georgia and Africa (Angola), as well as through two representative offices in Italy and China, two VTB branches in China and India, and five VTB Capital subsidiaries in Singapore, Dubai, Sofia, Hong Kong and New York. As of 31 December 2012, VTB Group was the second largest financial group in Russia by assets (RUB 7.4157 trillion) and clients’ funds (RUB 3.6728 trillion). Its largest shareholder is the Russian Government, which owns 75.5% of the bank’s share capital through the Federal Property Management Agency.
TransFin-M is a leading leasing company in the railway sector. It was established in 2005 by Blagosostoyanie, one of Russia’s largest non-state pension funds.
In 2012 TransFin-M’s new business was assessed at RUB 75.8 billion and its lease portfolio was worth RUB 121.7 billion, making it the fourth largest company in the market in terms of new business and lease portfolio. The company has around 26,200 freight cars and 129 passenger cars. Its strategy is aimed at promoting the modernisation of Russia’s transport industry by attracting Russian and foreign investment into rail transport and the development of new leasing areas in the railway sector.