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VTB and Delovaya Rossiya sign cooperation agreement

 
26 June 2013

VTB and Delovaya Rossiya sign cooperation agreement © RIAN, Dmitry Astakhov

On 26 June 2013, Prime Minister Dmitry Medvedev presided over the signing of a cooperation agreement between VTB Bank and Delovaya Rossiya, the Russian business association. The agreement was signed in Moscow by President and Chairman of VTB Bank Management Board Andrey Kostin and Delovaya Rossiya co-chair Alexander Galushka.

Under the agreement, the parties have committed to creating favourable conditions for the development of entrepreneurship in the non-hydrocarbon sector and the banking system, including by working with government agencies to improve legal regulation in this sphere.

Commenting on the agreement, President and Chairman of VTB Bank Management Board Andrey Kostin said: "Banks, more than any other economic institutions, are interested in the development of entrepreneurship. Working with the real sector of the economy has always been a priority for VTB. We have always paid special attention to lending to medium-sized businesses. Over the first five months of 2013, VTB’s loan portfolio in this segment has increased by 24% to RUB 211 billion. I am confident that our cooperation with Delovaya Rossiya will ultimately lead to the overall growth of the country’s economy."


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