OREANDA-NEWS. December 30, 2009. Within developing its cooperation with oil industry enterprises, VTB Bank has set a RUB 26.8 billion credit limit for TNK-BP Group.

The new limit is expected to allow TNK-BP to take advantage of VTB’s wide opportunities in financing current needs using the whole range of instruments accepted in the international banking practice.

VTB has already granted TNK-BP a USD 50 million limit maturing in 6 months within the established limit. The purpose of financing is current economic activity. Besides, the parties have signed a USD 200 million revolving facility agreement with a term of 1.5 years.

Partnership between VTB and TNK-BP has been actively developing since 2006. The Bank has always regarded cooperation with leaders of this industry as a business priority. Developing relations with oil industry enterprises, VTB aims to implement a comprehensive customer-oriented approach at all stages of business growth and diversification through offering a full range of banking products and services.