Thursday, September 18 2014 16:22

VTB Bank (Armenia) enlarges its partnership with Spayka


ArmInfo. Erik Abraamyan. VTB Bank (Armenia) is enlarging its partnership with Spayka, one of Armenia's leading transportation companies: the bank has given the company a big loan so it can replenish its floating assets and intensify its export-oriented activities during the agricultural season.

The press service of VTB Bank (Armenia) reports that VTB Bank (Armenia) and Spayka started their partnership in 2012. In Mar 2013 the bank approved a factoring financing limit of $7mln for the company.

As a token of fruitful and continuous partnership, all of Spayka's refrigerated trucks have the bank's logo on their side panels.

"VTB Group offers best terms to its exporter-customers. Our logo on Spayka's trucks proves that we are regarded as a reliable partner," says the bank's CEO Yuri Gusev.

"Our company has used VTB Bank (Armenia)'s services for several years already and regards it as a reliable and long-term partner. Our partnership is based on professionalism and mutual confidence and will be developed," says CEO of Spayka David Ghazaryan.

Head of Spayka's Development Unit Karen Baghdasaryan has told ArmInfo that since June 2014 the company has exported 4,000 tons of root crops. "By the end of this year we are planning to export 10,000 tons of root crops and 80,000 tons of fruits. In order to boost our exports, we are planning to enlarge our fleet by 30%," Baghdasaryan said.

VTB Bank (Armenia) joined VTB Group in Apr 2004 and is owned by Russia's second biggest bank VTB Bank. The bank has the largest branch network in Armenia's banking sector (67 branches).

The Spayka Limited Liability Company was founded in 2001. At present Spayka is a first-rate international freight forwarding company in Armenia, and is offering international freight forwarding to the CIS and EU countries.
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