JSC VTB Bank expands cooperation with a company-member of Almazjuvelirexport Group. Thus, since the early 2011 the Bank has set a credit limit for the Crystal Diam Corp, a member of the group, allowing for providing loans under the surety of Almazjuvelirexport and issuing unsecured VAT refund guarantees in favor of tax authorities.
Within the limit, the company got USD 7 mln credit facilities to finance its current needs and to buy rough diamonds from the Gokhran (state repository) and JSC ALROSA.
JSC VTB Bank and Almazjuvelirexport Group have had long-standing relationships based on their mutual interest in developing comprehensive partnership relations. The Bank and the group have signed a strategic partnership agreement which implies VTB engagement as a major lending institution in providing banking services to the group and its subsidiaries.
Crystal Diam Corp is a member of industrial and trading group of companies belonging to the state-owned unitary enterprise-foreign trade association Almazjuvelirexport engaged in trading rough and polished diamonds, platinum group metals, jewellery, etc., and being an exclusive authorized agent of the Russian Government in exporting rough and polished diamonds from state funds of the Russian constituents.