BSGV Branch Grants Large Loan to Urals Retailer

29.06.2009 — News

THE SVERDLOVSK OBLAST.

Ekaterinburg branch of Bank Societe General Vostok (BSGV) granted a 300 million roubles / 1 year loan to the Monetka retail chain. The funds received by the main operating company OOO Element-Trade are expected to replenish the retailer's working capital.

As the BSGV branch informed RusBusinessNews, the bank has cooperated with Monetka for 3 years. The loan will help the further development of the retail chain that has achieved a considerable turnover growth in 2008.

The first Monetka store opened in Ekaterinburg in April 2001. At the moment the retail chain includes 178 stores in the Sverdlovsk, Chelyabinsk, Tyumen, Kurgan and Moscow oblasts, as well as Ugra and Bashkortostan Republic.