OREANDA-NEWS. October 27, 2011. Rosbank had participated in an open competition for contracts to open credit lines for JSC "Rostelecom" and won two lots. According to the results Rosbank provides Rostelecom financing under a non-revolving USD  6 billion credit line for one year period and will open a revolving credit facility with a limit of 6 billion rubles for a 3 years period.

The deal was a part of cooperation between a Societe Generale’s group, which owns a controlling stake in Rosbank, and regional Svyazinvest group’s telecom operators, united on the basis of OJSC "Rostelecom".

Since 2007 Societe Generale’s Russian subsidiaries have been providing financing for Rostelecom’s companies, holding finance trade and cash management services. Due to the accumulated experience and interest in expanding cooperation with JSC "Rostelecom" Rosbank managed to ween a contest.

Vladimir Golubkov, Rosbank’s Chairman of the Board: "The telecommunications industry is one of the most attractive for bank financing. This segment grows actively, and is resistant to the crisis in real economy. Demand for telecommunications service increases, a range of approaches expends, creating a good basis for future profitability. Therefore, huge telecommunications operators with diversified business can count on the most favorable conditions to attracte credit resources".