VTB provided a RUB 2 billion loan to JSC Pharmasyntez-Nord (operating as part of Pharmasyntez Group). The funds will be used for the construction of a research and production complex in Saint Petersburg, the bank informed.
The program envisages concessional lending for a broad range of purposes, including investment loans for modern competitive industries, letters of credit, factoring and loans to foreign consumers of Russian products.
VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all the key segments of the financial market. In the CIS, the group is active in Armenia, Ukraine, Belarus, Kazakhstan, Azerbaijan. VTB's banks in Austria, Germany and France are operating as parts of the European sub-holding led by VTB Bank (Austria). Besides, the group has subsidiary and affiliate banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one VTB branch in China and India, two VTB Capital Plc branches in Singapore and Dubai.
