VTB expands cooperation with Siberian homeware retailer
19 December 2014
VTB Bank has extended a RUB 500 million one-year loan to Posuda-Tsentr Servis, a Posuda-Tsentr Group company. The deal was concluded as part of a larger loan agreement signed in October to finance the company’s working capital.
VTB Bank has signed three loan agreements worth a total of RUB 800 million with Posuda-Tsentr Servis since it started working with the Novosibirsk-based homeware retailer in May 2013. The bank also provides cash management services, cash collection, and cash-in-transit services.
"Supporting fast-growing regional businesses is one of our key areas of operation," said VTB Deputy President and Chairman of the Management Board Mikhail Oseevskiy. "We are confident that this new loan will help Posuda-Tsentr Servis gain a stronger foothold on Russia’s household goods market."
Posuda-Tsentr Group is one of Russia’s leading operators on the household goods market and is an absolute leader in dishware in Siberia and the Far East. The company is a cash-and-carry household goods retailer.
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