VTB 24 Bank increased the credit line of Obuv Rossii GC GC "Shoes of Russia"
17.10.2016 1295

VTB 24 Bank increased the credit line of Obuv Rossii GC

VTB Bank opened a revolving unsecured credit line to the Obuv Rossii group of companies in the amount of 500 million rubles for a period of three years. As a result of the transaction, the total credit limit set by the bank for Obuv Rossii Group of Companies increased to 2 billion rubles. The funds raised will be used to finance the current activities of the group and replenish working capital.

“The support of development-oriented companies that set ambitious goals, find opportunities for their implementation and participate in the national import substitution program is one of the priority areas of our bank’s work,” comments Vyacheslav Bryukhanov, head of VTB's corporate branch in Novosibirsk. - “Shoes of Russia” is one of the leading enterprises in the shoe industry in our country. It is especially important, in our opinion, that the company invests in capacity building and builds production on a new technological base. ”

According to the director of Obuv Rossii Group of Companies Anton Titov, thanks to joint work with the bank for more than 3 years, the company has managed to significantly increase the volume of business, implement a number of large projects, including an M&A deal.

VTB Bank and Obuv Rossii group of companies have been cooperating since 2013, when the first credit line for 500 million rubles was opened. During this time, the bank has repeatedly provided financial support to Shoe of Russia, which contributed to the implementation of the strategic plans of the company and the development of new projects.

Obuv Rossii and VTB have long and fruitfully worked not only in the field of traditional lending, but also in such areas as: settlement and cash services, Internet banking, deposit placement, support of foreign economic activity. Obuv Rossii also collaborates with other companies from the VTB Group. So, VTB Insurance is a partner of Shoe of Russia in corporate insurance, VTB Insurance insurance products are sold in the stores of Obuv Rossii Group of Companies.

VTB24 is a part of VTB Bank (PJSC). As of June 30, 2016, VTB Group is the second largest financial group in Russia by assets (12 billion rubles) and customer accounts (333,5 billion rubles). The main shareholder of VTB is the Government of the Russian Federation, which in the person of the Federal Agency for State Property Management owns 7% of the voting shares.

The Obuv Rossii group of companies was founded in 2003; its head office is in Novosibirsk. The main business areas of the Group are footwear manufacturing, retail and wholesale of footwear and related products. Obuv Rossii develops five shoe chains: Westfalika (single brand, mid-price segment), Pedestrian (multi-brand shoe supermarket), Emilia Estra (shoes boutique), Rossita (store for the whole family) and Lisette (fashion showrooms). The Shoe of Russia shoe network currently has more than 450 stores in more than 100 cities. The company's revenue in 2015 under RAS amounted to 9 billion rubles, net profit - 1,3 billion rubles.

VTB Bank opened a revolving unsecured credit line for the Obuv Rossii group of companies in the amount of RUB 500 million for a period of three years. As a result of the transaction, the total credit limit, ...

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