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VTB opened a 2 billion rubles credit line to Ural Airlines

VTB opened a 2 billion rubles credit line to Ural Airlines

07.02.2020

VTB Bank in the Sverdlovsk Region has entered into a loan agreement with Ural Airlines with a revolving aggregate lending limit of 2 billion rubles for a period of three years. Financing can be used both for replenishment of working capital, and for the acquisition and modernization of assets, construction and installation works, as well as refinancing of loans of other banks.

Dmitry Snesar , head of the market sector customer service department, senior vice president of VTB, said: “We continue to expand the range of financial services for business and are aimed at productive cooperation with leading enterprises in our industries. Ural Airlines is one of the largest air carriers in Russia. I am sure that VTB financial instruments will contribute to the successful implementation of the company's strategic objectives. ”

Larisa Usova , financial director of Ural Airlines, emphasized: “The airline continues to update its aircraft fleet and expand its route network, increasing traffic volumes. We are pleased to see VTB among our creditors and are confident that by joint efforts we will achieve all of our goals. ”

VTB in the Sverdlovsk region is steadily increasing the volume of financing enterprises. In 2019, the bank's corporate loan portfolio in the region increased by 38% and exceeded 91 billion rubles as of January 1, 2020. Of these, large business accounts for 68 billion rubles, according to the results of the year, growth in this segment amounted to 51%.