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International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2024, 00:53

ELKO Grupa subsidiary receives 1bn RUB loan from VTB Bank

BC, Riga, 02.08.2016.Print version
Alma LLC, a subsidiary of Latvian IT wholesaler Eko Grupa, has received a loan worth one billion Russian rubles (EUR 13.39 mln) from VTB Bank, accordging to Elko Grupa’s statement to the Nasdaq Riga stock exchange.

The RUB 1 billion loan has been granted under an agreement signed on July 1 between VTB Bank and Alma LLC to finance the company’s current assets and mitigate the exchange risks of the Russian ruble.

 

ELKO Grupa, established in 1993, is one of the largest IT product wholesalers, solutions and services experts in Eastern Europe with active business expansion in Central Asia.

 

Elko Grupa sells more than 20,000 goods of the world's most popular brands, such as Acer, Apple, Asus, Dell, HGST, Intel, Kingston, Lenovo, Microsoft, Seagate, Supermicro, Western Digital and others.

 

Elko Grupa employs more than 700 people. The group belongs to several legal entities and investment fund Amber Trust.

 

In 2015, Elko Grupa turned over EUR 1.139 billion and earned EUR 19.7 mln profit.

 






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