VTB Bank signed a strategic cooperation agreement with United Engine Corporation during the 2013 MAKS International Aviation and Space Salon in Zhukovsky.
The document was signed by Valery Lukyanenko, member of VTB Bank Management Board, and UEC General Director Vladislav Masalov.
The agreement documents major areas of cooperation between the bank and Russia’s leading aircraft engine and gas turbine manufacturer, and is expected to enhance coordinated efforts to improve banking services for UEC.
The bank works with all of UEC’s major companies including NPO Saturn, Perm Engine Plant, Kuznetsov, Saturn Gas Turbines, Ufa Engine Industrial Association (UMPO), and state
VTB has extended over RUB 55 billion worth of loans and trade finance products to these companies within their total credit limit, which exceeds RUB 100 billion.