News for Investors
VTB and Obuv Rossii Agree About a New Cooperation Strategy
VTB bank and Obuv Rossii Group have agreed upon a renewed strategy of their partnership including the extension of the existing loan liabilities for RUB 4.5 bln.
Developing a long-term partnership, the bank extends the loan term for the Company up to 2025 to support the Company after a required suspension of retail operations during the COVID-19 lockdown and to support the business for the implementation of the further development strategy aimed at the creation of a modern retail format integrating online and offline sales channels, the development of own marketplace and additional services for customers.
“During the pandemic, VTB was among the first to offer the regional business all possible instruments of support, both governmental and own. Since the beginning, we have been concentrating on providing the Company an opportunity to reorganize their operations, to use the existing resources and maintain its activity. We have been cooperating with Obuv Rossii Group since 2013. We have supported strategical projects of the Group many times, and we are confident that the Company will continue its development”, said VTB manager in the Novosibirsk Region, Vice-President Stanislav Mogilnikov.
“VTB is one of the key financial partners of Obuv Rossii Group. We have long-term fruitful relationships allowing us to achieve mutual understanding in key cooperation issues and business support. We highly appreciate the fact that the bank met our needs in the current complicated economic situation. Due to the bank’s support, we are not only achieving the pre-crisis level in overperforming rates but also restoring the business growth”, commented CEO of Obuv Rossii Group, Anton Titov.
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