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19 September 2016

Technodinamika Holding, a division of Rostec State Corporation, inked a cooperation agreement with Russia's VTB Bank at the Army 2016 international military-technical forum, held in Kubinka near Moscow from September 6 through 11. The document was signed by CEO of Technodinamika Maxim Kuzyuk and Deputy President of VTB Bank Victor Lukyanenko.

According to the document, the agreement was concluded following a positive history of collaboration and due to the willingness to further develop the relations.

The key lines of the cooperation will be funding Technodinamika's investment projects, providing payments and cash services, investing spare funds in the bank and taking out loans from it. In addition, VTB Bank will improve the holding's payments procedures, help it introduce new financial management technologies, advise and inform the company on various financial issues.  

"We have been working with VTB Bank for a long time, and we are glad that it views us as a strategic client," said CEO of Technodinamika Maxim Kuzyuk. "In fact, by signing this agreement the bank becomes the key lender for our holding." As an important factor he also noted the ability to involve VTB representatives to evaluate the terms of cooperation with foreign partners and analyze the investment projects.