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Wednesday, June 28, 2017

Rossiya Bank to provide credit facilities to Fuel and Energy Complex of St. Petersburg

Rossiya Bank, a Russian joint stock bank headquartered in St. Petersburg, recently won an open electronic auction to provide a revolving line of credit to Fuel and Energy Complex of St. Petersburg, one of the leading thermal power companies in the northwest.

The credit limit is the equivalent of $28.77 million over a period of 12 months and will be used to finance the company's current operations.

Rossiya Bank is a universal financial and credit institution offering a full range of banking services to corporate and private clients, including industry leaders in machinery, defense, oil and gas, agriculture, and telecommunications.

The bank has approximately 70 branches and offices in 19 regions of the Russian federation.

Fuel and Energy Complex of St. Petersburg provides approximately 40 percent of the operation and development of the heat supply system for the city's 2.5 million residents.