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VTB provides financing to Urals vegetable oil producer

13 November 2014

VTB provides financing to Urals vegetable oil producer.

VTB Bank has granted a one-year RUB 750 million credit line to Chishminskoye, a production unit of Sigma agricultural holding company, one of the biggest vegetable oil producers in Siberia and the Urals. The financing will enable the company to purchase materials and equipment for oil production.

"Supporting Russian agricultural producers promotes the development of the food industry," said Mikhail Oseevskiy, Deputy President and Chairman of VTB Bank Management Board. "Despite the challenging economic situation, VTB is not planning to cut lending to non-financial sectors. By the beginning of November, the bank’s regional branch network had grown its credit portfolio to medium-sized businesses by 49% year-on-year."

Sigma Holding Company is a major agricultural producer in the Urals and Siberia specialising in processing oil-bearing seeds for oil manufacture and has been successfully operating in this market since 1991. The company manufactures and markets vegetable oils and processed products in Russia, the CIS and other countries.

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