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UBRD Offers OR RUR1bn Credit Line

UrBC, Yekaterinburg, July 5, 2018. Obuv Rossii Group, the Russian fashion retail giant, and the Ural Bank for Reconstruction & Development (UBRD) signed an agreement: the bank now opens a credit line (RUR 1bn) for the company for the next two years, the bank’s press service reports.

The money will be directed to funding the Group’s current business operation, including its retail network expansion.

‘The UBRD and Obuv Rossii have been partners since 2012, and it is with pleasure that we keep on working with one of the country’s leading banks. The bank’s funding is an important factor for the success of company’s strategy to become Russia’s footwear market leader. We have been expanding our business and opening new stores in the last few years, and the plan is to keep growing just as impressively,’ says the Group’s Director Anton Titov.

Now according to Discovery Research Group, the country’s footwear market will amount to more than RUR 1.4 trillion by the end of 2018.
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