OREANDA-NEWS. June 03, 2013. VTB Bank has approved a RUB 11.3 billion loan tranche for the TransFin-M leasing company as part of a loan facility with a total limit of RUB 19.5 billion. TransFin-M will use the funds to finance the development of the company's business.

VTB Bank and TransFin-M have been successfully cooperating since 2011. VTB plans to add trade finance transactions and derivatives to the range of banking products it offers to the leasing company.

"VTB Bank is a strategic partner of our company. By issuing us a loan it has confirmed its trust in our company and its positive assessment of our financial achievements, development strategy and risk management methods. We have used the loan funds to buy open cars. The current surplus of rolling stock on the market and falling prices of open cars offer the chance to form a reliable asset portfolio at low prices. We take a positive long-term view of this market segment".
Dmitry Zotov,  TransFin-M CEO