The Bank of Moscow recently extended a credit facility of $7.4 million to Neftegazooborudovanie Works LLC for 1.5 years to help the company replenish its working capital.
With manufacturing facilities of more than 20,000 square meters, Neftegazooborudovanie Works is an industry leader. The equipment manufactured by the works is used by major oil and gas companies in Russia and the former Soviet states.
"The Bank of Moscow actively develops partner relations with medium businesses, offering them a whole range of banking services. Supporting the real sector of regional economy is among the key objectives of our Bank," Evgeny Monin, the director of the corporate sales management department at the Bank of Moscow, said.
The Bank of Moscow is the fifth largest bank in Russia, providing banking services to both corporations and individuals. The bank currently provides services to more than 100,000 corporate customers and more than 7 million citizens.