VTB Bank has approved a RUB 900 million credit line for Information Telecommunication Technologies (Inteltech), a leading Russian designer and producer of computer-aided control, command and communications systems.
Inteltech can use the facility to take out a variety of VTB loans to finance its operations for up to 12 months, and bank guarantees for transactions of up to three years.
"Years of experience in designing and producing high quality equipment have made Inteltech a market leader in information and communications technology," said Denis Bortnikov, a member of VTB Bank Management Board. "VTB is ready to offer the company its entire range of credit services and guarantees to boost its development, help it find new partners and launch new projects in accordance with global ICT trends".
Inteltech Director General Yury Nikolashin said: "Inteltech works to help its customers implement automated control and communications strategies. It takes highly qualified professionals, the latest technology and funds, including loans, to create sophisticated information systems. We appreciate the experience and professionalism of the VTB team and believe that close cooperation with one of Russia’s leading banks will benefit both sides and will be a key to our company’s success."
Inteltech has the capacity for the complete production cycle, from designing to implementing advanced electronic equipment, including fundamental and applied research, engineering, development and the production of hardware and software, adjustment and testing, as well as equipment assembly and maintenance at clients’ facilities.