Under the cooperation with OJSC Minudobrenia (Rossosh), a largest Russian independent producer of mineral fertilizers, VTB Branch in Voronezh has issued a RUB 416 mln bank guarantee in favor of tax authorities.
VTB and Minudobrenia have maintained strong cooperation for over 10 years.
The company is focused on nitrogen, phosphate, and potash fertilizers, ammonia and ammonium nitrate. It is among the backbone enterprises of the Rossoshansk region, which plays an important role both in providing domestic agribusiness producers with mineral fertilizers, and their sales in the global market.
For reference:VTB Group is a leading Russian financial group with a strong expertise gained in Russia and the CIS, and operating in more than 20 countries around the world. The Russian Government is VTB majority shareholder, with a 85.5% stake. The share of other shareholders in VTB Charter is 14.5%, and the share of holders of VTB global depositary receipts is 7.01%. VTB offers a wide range of services in corporate, retail and investment banking in Russia, some other CIS states and a number of countries in Western Europe, Asia and Africa. As of the results of 2009, VTB Group was the second largest financial group in Russia by assets (RUB 3,610.8 billion) and by customer accounts (RUB 1,568.8 billion). VTB regional network comprises 941 outlets in Russia, the CIS and Europe. In 2008, VTB launched its investment banking arm, which operates from Moscow, London, Singapore and Dubai offices.