JSC VTB Bank has set a RUB 500 mln documentary credit limit for the Group of Companies SCC / Farial. Within the limit, the Bank’s branch in Samara has provided JSC SCC with loans totaling RUB 150 mln to finance the company’s current business activities.
The Bank and the Group of Companies SCC / Farial have been developing partnership relations since 1998. Alongside lending, VTB offers cash and settlement services to the Group, and plans to enhance cooperation between the Group and VTB subsidiaries.
JSC SCC (the largest company of the Group of Companies SCC / Farial) is a recognized leader of the cable industry. In terms of certain products, its market share amount to 68%. The company’s growth rates in 2010 were 79% as compared to those of 2009, while the average market growth rates were 10-12%.
The Group of Companies SCC / Farial is not satisfied with the success gained and continues to develop new projects aimed at enhancing production and launching new products, which opens a window of opportunity for further cooperation with VTB Bank.