OREANDA-NEWS. June 25, 2014. VTB Bank has extended RUB 700 million worth of two- to five-year loans to AAA Motors Group of Companies, the largest car dealer in Rostov Region.

The funds will be used to refinance existing borrowings and expand the group’s day-to-day operations.

"VTB is committed to partnering with medium-sized businesses in various segments. Our new partner, AAA Motors Group, is one of the fastest growing auto retailers not only in Rostov Region, but in Russia as a whole. VTB offered the company a financing package that will help it streamline expenses on the back of lower borrowing costs," Deputy President and Chairman of VTB Bank Management Board Mikhail Oseevskiy said.

For reference:
AAA Motors is the largest and most important unit within AAA Group of Companies. The group’s auto retail arm currently operates 13 dealerships in three Russian cities (Rostov-on-Don, Krasnodar, Voronezh) offering 8 cars brands: Audi, Mazda, VW, Ford, Renault, Hyundai, Land Rover and Skoda. AAA Motors is the largest car dealer in the Rostov Region and the second largest car retailer in southern Russia.