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VTB signs new loan agreement with X5 Retail Group

 
29 September 2015

©x5.ru

VTB Bank has signed a RUB 24 billion, three-year loan agreement with X5 Retail Group N.v. The retail chain will use the money for early loan repayment and to finance its operations.

«This new VTB loan will help X5 Retail Group, a leading retail chain in Russia, to expand and to implement new projects in the important food retail sector," said Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board.
VTB Bank and Х5 Retail have been working together since 2008. The retailer uses a wide range of VTB Bank products and services, including short-term loans, cash management. payment and collecting services.

For reference:

X5 Retail Group is a leading Russian food retailer that operates a multi-format platform, which includes four brands: Pyaterochka neighbourhood stores, Perekrestok supermarkets, Karusel hypermarkets and Express Retail convenience stores.


Tags:
lending

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