On 25 June 2013, VTB Bank hosted a video conference, «Financing
The event was timed to coincide with the resumption of
As part of the event, a tripartite protocol on cooperation was signed by Georgian wine producer Kindzmaraulis Marani, VTB Bank (Georgia) and VTB Factoring. The document includes a pilot factoring deal between Georgia and Russia, with VTB Bank (Georgia) financing Kindzmaraulis Marani and VTB Factoring assuming the risks of the Russian debtor. The financing limit is set at about USD 2 mln.
This factoring deal is unique for Russia and Georgia. Both the financing bank and the factoring company are part of the same financial group, giving the customer maximum convenience and considerably speeding up
Archil Kontselidze, CEO of VTB Bank (Georgia), said: «We see a lot of prospects for international factoring in trade between our two countries. In our view, Georgia’s
Anton Musatov, CEO of VTB Factoring, said: «I am confident that our first agreement with Georgia will help to bring trade between our two countries to a new level. We are glad that our first customer is a
Irakly Talakhadze, Director of Kindzmaraulis Marani, said: «The Russian market is of strategic importance to my company and we are happy to be able to present all our products to Russian consumers with the help of our partners from VTB Group.»