OREANDA-NEWS. May 26, 2014. During the XVIII St. Petersburg International Economic Forum, Sberbank of Russia, BPS-Sberbank and NAFTAN (hereinafter “the Parties”) signed a memorandum of strategic cooperation.

The document was signed by CEO and Chairman of the Board of Sberbank of Russia Herman Gref, Chairman of the Board of Directors of BPS-Sberbank Vasily Matyushevsky and General Director of NAFTAN Vladimir Tretiakov.

The memorandum of strategic partnership envisages the development of a strategic partnership between the Parties, their subsidiaries and affiliated companies on a long-term and mutually beneficial basis, including most banking services – lending, financing of current operations and the company’s investment programs, documentary business, banking services for employees of the enterprise and other products and services.

The document also includes a preliminary agreement with NAFTAN about the Sberbank Group’s participation in financing the investment program for the development of oil refining with a total cost of up to EUR 2 bln.

CEO and Chairman of the Board of Sberbank of Russia Herman Gref said: “The history of NAFTAN, one of the two largest oil refineries in Belarus, and BPS-Sberbank, one of the largest creditors of Belarus’s real sector, started with Belpromstroibank more than two decades ago. This relationship allows the Sberbank Group, represented by BPS-Sberbank and the Moskovsky Bank of Sberbank, to develop a wide range of mutually beneficial products and projects together with NAFTAN. By signing this memorandum of strategic cooperation today, we are taking the next step to bring our relationship to a new level.”