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VEB and Deutsche Bank AG signed credit agreement on the 625mln rub. to cover export insurance provided by Euler HERMES for 7 years, the Bank informed.

The credit will be invested in the building of the pig breeding complex in Bashkortostan.

VEB (TIN 7750004150) was formed through the restructuring of Vnesheconombank. From the moment of its foundation the supervisory council analyzed the projects and approved 70 out of them appraised to worth 750bn rub.; its share exceeding 400bn rub.

The projects, mainly, are aimed to the development of innovations and infrastructure (80%); others - to the exports support.

The 2011-net profit (IAS) dropped 3.8 fold to 7.48bn rub. vs. prior year.

The IQ 2012 net profit (RAS) reached 7.6bn rub. due to 45% in the drop against prior year.

The 9-month 2012 net profit (IAS) rose 2.5 fold to 31.8bn rub.

"AK&M", 18.01.2013