Deutsche Bank AG London has signed a US$30mn one year pre-export finance facility for Russia’s JSC Vneshtorgbank (VTB).  Funds will be used by VTB to on-lend to one of its core clients, Eurochem, to finance the export of fertilisers.

With total assets of about US$12bn, VTB is the second-largest commercial bank in Russia offering a full range of banking services in Russia through its extensive branch network and in Europe through its correspondent network, subsidiary banks and companies.

VTB is also Russia’s leading bank for foreign trade settlement and covers more than 10% of external trade turnover of the Russian Federation.