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.

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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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