OREANDA-NEWS. VTB Bank and Moscow United Electricity Grid Company (MOESK) signed two five-year loan agreements worth a total RUB 10 billion on 18 June at the St. Petersburg International Economic Forum.

The agreements were signed by First Deputy President and Chairman of VTB Bank Management Board Yuri Soloviev and MOESK General Director Pyotr Sinyutin.

MOESK will use the loans to achieve its corporate goals, including an investment programme. VTB currently has provides a total of RUB 40 billion of credit lines to the company.

"VTB actively supports energy companies. MOESK is a long-standing and reliable partner, and we are delighted to continue our fruitful cooperation, offering the company a full range of financial and banking products and services at optimal market terms," said Yuri Soloviev.

Pyotr Sinyutin added that mutually beneficial cooperation between the bank and the power grid will help MOESK not only maintain its strong position on the market but also facilitate its further growth and development.

MOESK (affiliated with Rosseti) is one of the largest electricity distribution companies in Russia. Its main activities are providing electricity transmission services and connecting consumers to the grid in Moscow and the Moscow Region.

VTB Bank and its subsidiary banks and financial organisations (VTB Group) are a leading Russian financial group offering a comprehensive range of financial services in Russia, the CIS, Western Europe, North America, Asia and Africa.

In Russia, the group conducts banking operations through one parent bank (VTB Bank) and subsidiary banks, VTB24 and Bank of Moscow being the largest among them. The group’s companies offer a range of financial services, including retail, corporate and investment banking, broking and other stock-market services, insurance, factoring and other financial services.

VTB Group operates a unique international network. It has more than 30 banks and financial companies offering a comprehensive range of services to clients in over 20 countries across the CIS, Europe, Asia and Africa.

As of 31 March 2015, VTB Group is Russia’s largest financial group by assets (RUB 12,438,300,000) and client funds (RUB 6,450,500,000). VTB’s main shareholder is the Russian government, which owns 60.9 percent of the bank’s share capital, according to the Federal Agency for State Property Management.