25 May 2018

Within the framework of the St. Petersburg International Economic Forum, VTB Bank signed a memorandum of cooperation with the GEFCO Group. The document was signed by Yuri Soloviev, First Deputy President and Chairman of the Board of VTB Bank, and Pavel Ilyichev, Vice President for Strategy and Finance of the GEFCO Group.

The subject of the agreement is the development of mutually beneficial cooperation aimed at financing the GEFCO investment program in Russia, as well as supporting and developing the company's business in Europe.
GEFCO and VTB Bank also intend to jointly develop and implement financial instruments to ensure operational and investment activities, as well as financing the working capital of the GEFCO Group.

"The GEFCO Group is an old, reliable client of VTB Group. We plan to continue to offer optimal financial solutions for the company, thereby contributing to the implementation of its strategic tasks to expand business in the Russian transport market, including support for exports and imports, "said Yury Soloviev, First Deputy President and Chairman of the Board of VTB Bank.

The signing of this Memorandum with VTB Bank confirms that GEFCO is successfully developing in Russia not only in its key areas, but also expanding partnership relations with companies, in particular, from the banking sector. The Russian market is strategically important for us, so supporting the country's leading financial institution will be of great importance, especially in the context of our plans to acquire assets in Russia. We are confident that this agreement will be the next step to a successful long-term cooperation between our companies.

Pavel Ilichev

Vice President for Strategy and Finance of GEFCO Group