VTB Bank has extended two credit lines worth a total RUB 600 million to Prodtrade LLC, a food and consumer goods supplier in eastern Siberia. The funds will be used to finance current operations, including the acquisition of large shipments of consumer goods and food products.
"VTB works closely with trade companies across various Russian regions," Mikhail Oseevskiy, Deputy President and Chairman of VTB Bank Management Board, said. "Prodtrade is among our strategic partners in this segment in East Siberia, and we are looking forward to enhancing our cooperation."
Prodtrade LLC supplies food products and consumer goods to healthcare institutions, schools and preschools, public catering facilities, the proprietary hypermarket chain OK and the supermarket chain Cesar in Irkutsk, Angarsk and Shelekhov, as well as to SPAR supermarkets in Irkutsk and Ulan Ude. The first Cesar supermarket was opened in Irkutsk in 1999 and the first OK hypermarket was launched in 2005. The first SPAR supermarket in East Siberia was opened in cooperation with Dutch retailer SPAR in Ulan Ude in 2012.