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VTB provides financing to Stone-XXI

 
15 July 2013

VTB has set a loan ceiling of RUB 1.5 billion for the Stone-XXI leasing company. The parties have signed an agreement within this limit for a three-year loan of RUB 500 million.

The funds will help Stone-XXI increase the number of motor vehicles purchased for re-sale to small and medium-sized businesses. Stone-XXI plans to receive the remaining RUB 1 billion before the end of September.

 
 
 
 
«Cooperation between VTB and Stone-XXI is going to be systematic and long-term. The deal is confirmation of the fact that VTB provides complex and quality customer service.»
Mikhail Oseevskiy,
Deputy President and Chairman of VTB Bank Management Board

For reference:

Stone-XXI LLC was founded on 20 January 2000 as a company which leases motor vehicles and equipment. Over the past 13 years, Stone-XXI closed over 17,000 lease contracts for a total of over RUB 43 billion. The total value of purchased equipment and vehicles amounts to RUB 33.8 billion. Stone-XXI has leased out over 20,100 vehicles and items of equipment. Its customers include over 4,700 companies. It is a regular equipment provider for Russian industrial and trade companies.

Tags:
lending

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