OREANDA-NEWS. September 02, 2013. VTB Bank signed a strategic cooperation agreement with United Engine Corporation during the 2013 MAKS International Aviation and Space Salon in Zhukovsky.

The document was signed by  Valery Lukyanenko, member of VTB Bank Management Board, and UEC General Director Vladislav Masalov.

The agreement documents some of the important areas of cooperation between the bank and Russia’s leading aircraft engine and gas turbine manufacturer and is expected to enhance the coordinated efforts to improve banking services for the UEC group of companies.

The bank works with all the major companies in the group including NPO Saturn, the Perm Engine Plant, Kuznetsov, Saturn Gas Turbines, Ufa Engine Industrial Association (UMPO), and state gas-turbine R&D centre Salyut, which is to be incorporated into UEC.

VTB has extended over RUB 55 billion worth of loans and trade finance products to these companies within their total credit limit which exceeds RUB 100 billion.