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VTB extends loans to AAA Motors Group

 
16 June 2014

© photoexpress.ru

VTB Bank has extended RUB 700 million worth of two- to five-year loans to AAA Motors Group of Companies, the largest car dealer in Rostov Region. The funds will be used to refinance existing borrowings and expand the group’s day-to-day operations.

"VTB is committed to partnering with medium-sized businesses in various segments. Our new partner, AAA Motors Group, is one of the fastest growing auto retailers not only in Rostov Region, but in Russia as a whole. VTB offered the company a financing package that will help it streamline expenses on the back of lower borrowing costs," Deputy President and Chairman of VTB Bank Management Board Mikhail Oseevskiy said.

AAA Motors is the largest and most important unit within AAA Group of Companies. The group’s auto retail arm currently operates 13 dealerships in three Russian cities (Rostov-on-Don, Krasnodar, Voronezh) offering 8 cars brands: Audi, Mazda, VW, Ford, Renault, Hyundai, Land Rover and Skoda. AAA Motors is the largest car dealer in the Rostov Region and the second largest car retailer in southern Russia.

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