OREANDA-NEWS.  June 16, 2014. VTB Bank has issued a letter of credit limit for RUB 1.2 billion to Slata Group to finance its operations and an investment project to expand the Slata retail chain in Irkutsk.

Slata is a leading wholesale and retail food chain in Irkutsk Region in Eastern Siberia. In 2014, it plans to open 11 Slata supermarkets with a total floor space of about 9,000 square metres. The group is building two shopping centres in Irkutsk with financing from VTB.

"Investment financing is a priority area for VTB Bank that helps to grow its clients’ businesses. A vivid example is Slata Group, which has been growing fast in cooperation with our bank," said Mikhail Oseevskiy, Deputy President and Chairman of VTB Bank Management Board.