Source Pravda.Ru

Vneshtorgbank gets $175m in credits from abroad

Vneshtorgbank (VTB) attracted $175m in credits from 12 foreign banks, VTB Chief Executive Officer reported when signing corresponding agreements today. The credits were granted for a year at a rate of LIBOR+1.5-percent. The following banks took part in the deal: Deutsche Bank AG, Citibank NA, Commerzbank AG, Dresdner Bank, HVB, ING Bank NV, Natexis Banques Populaires, Standard Bank, UFJ Bank, Bank of Tokyo-Mitsubishi, WestLB AG, HSH Nordbank AG.

According to Kostin, the funds will be used for financing mercantile operations of the bank's custom. He added that so far the bank did not intend to prolong the credit.

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