In Q2’2011, VTB Bank Branch in Irkutsk granted a loan to JSC Irkutskkabel, one of the five largest Russian cable plants. Under the set limit the customer received RUB 150 million. The funds raised will be used to finance the ongoing operations of the plant.
“Once again, we are glad to support such a longstanding customer as Irkutskkabel. The plant meets from 8% to 30% of the Russian market’s demand in various types of cables and conductors. I am certain that business reputation of the company will only grow”, said Aleksandra Makarova, Head of VTB Bank Branch in Irkutsk.
Irkutskabel was established in 1966 by the Decree of the USSR Council of Ministers on establishing a plant for production of bare wires for overhead power lines and ACSR cables. The plant was privatized in 1992. It is a Member of Elektrocable Association. JSC Irkutskkabel sells its products in every Russian region as well as in Mongolia, Kazakhstan, Turkmenistan, etc.
JSC Irkutskkabel has been a customer of VTB Bank since 1991. Apart from lending, the Bank provides cash and settlement services to Irkutskkabel and supports international business of the plant.