Raiffeisenbank and Obuv Rossii Group of Companies signed a loan agreement, under which the bank opened a revolving credit line for a shoe retailer in the amount of 500 million rubles for a period of two years. According to the terms of the agreement, Raiffeisenbank provides Obuv Rossii with a blank (unsecured) loan to replenish working capital and finance the company's current activities. “Raiffeisenbank has been one of our main financial partners for several years now, and we are pleased to expand our cooperation with the bank. - comments Anton Titov, director of Obuv Rossii Group of Companies. “The bank's personnel are distinguished by a professional approach to business, and we are confident that the bank's financial support will play an important role in the development of the company's business.”
Obuv Rossii is one of the leaders in the regional shoe market. The company shows good financial performance even in the current economic conditions, ”comments Pavel Losev, Deputy Director for Corporate Business at the Sibirsky regional center of Raiffeisenbank JSC. “It’s important for us to maintain a regional business with high competitiveness and to help companies such as Shoes of Russia expand their market share.”
Obuv Rossii has been cooperating with Raiffeisenbank since 2007. Currently, the company already has two existing credit lines, provided in 2013 and 2014 for a period of 2 years. To date, the total amount of bank financing of the company’s activities is 1 billion rubles.