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VTB Bank expands financing of the Khabarovsk Krai and the Sakhalin Region

 
10 May 2011

© РИА Новости, Сергей Красноухов


By the end of Q1 2011, VTB Bank has granted USD 3.6 billion to the companies of the Khabarovsk Krai. The financing was expanded and amounted to 64% from the previous year. Such increase has been caused by recovery of business activity and industrial growth in some of the region’s economy sectors. The funds have been channeled into energy, water transport, defence, building and construction, gold mining and trade industries.

Besides, by the end of Q1, RUB 632 million has been provided to the companies of the Sakhalin Region exceeding Q1 2010 by 2.1 times.

The Bank has financed service, building and construction, as well as trade sectors. The funds have been channeled into performance of guarantees for Sakhalin –1 and Sakhalin – 2 project operators, construction of facilities under the “Economic and Social Development of the Far East and Transbaikalia till 2013” Federal Target Program, and trade contract payments.

VTB Bank is planning to increase financing of the Khabarovsk Krai and the Sakhalin Region enterprises also through raising funds from the international markets.

Forreference:

JSC VTB Bank and its subsidiary companies (VTB Group) is a leading Russian financial group. The major stakeholder of the Bank is the Russian Government with a 75.5% stake.

VTB Bank Khabarovsk branch with offices in Komsomolsk-on-Amour, residential community Vanino and Yuzhno-Sakhalinsk holds firm positions in the regional banking market.      


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