OREANDA-NEWS. September 21, 2009. Since the start of 2009, Sviaz-Bank has allocated 13.8 billion rubles to make loans to telecommunications and electric power network companies after winning an auction for contracts to extend loans to corporate borrowers, reported the press-centre of Sviaz-Bank.

Sviaz-Bank is to make loans to its basic customers among companies of the Sviazinvest group, in particular: STC, Ltd., Dalsviaz Company, Central Telegraph, VolgaTelecom, Uralsviazinform, and Sibirtelecom. Following its strategy to expand its customer base, Sviaz-Bank won auctions for financial services contracts held by regional distributor network companies, namely, MRSK Northwest, MRSK Center and Volga Region, MRSK Siberia, and DRSK Company. Loans have been issued for period of 18 to 60 months.

“We are expanding cooperation with the Bank’s strategic partners in the communications industry and extending comprehensive support to our basic customers on free-market terms. At the same time, we want to encourage new companies to cooperate with us on mutually beneficial terms. The Bank today is actively cultivating relations with businesses in the power industry,” said Sergey Volokhov, Deputy Chairman of Sviaz-Bank’s Management Board. “Until the end of this year, the Bank intends to allocate at least a further 30 billion rubles to make loans to the real sector of the economy.”