Russian Head of General Staff Gerasimov hands award weapon to Syrian generalMilitary & Defense August 19, 9:10
German politician says Crimea should to be recognized as part of RussiaWorld August 19, 6:22
Russian Emergencies Ministry carries out over 430 humanitarian missions abroad since 1993Society & Culture August 19, 6:18
Olympic diving champion Zakharov to carry Russia’s flag at opening ceremony of UniversiadeSport August 19, 4:11
New defense attorney to be appointed in former Ukrainian president’s high treason caseWorld August 19, 4:04
Mayor says Izmir International Fair homage to memory of late Russian ambassadorWorld August 19, 3:59
Putin, Medvedev emphasize need to restore cultural facilities in CrimeaSociety & Culture August 19, 3:43
El Pais: all four suspects in Barcelona terror attack shot deadWorld August 19, 3:36
Foreign Ministry speaker Zakharova very passionate about her dollhouseRussian Politics & Diplomacy August 18, 23:01
MOSCOW, January 01, /ITAR-TASS/. Russia’s VTB Bank arranged deals worth more than 4 billion billion in 2013 as part of a large-scale project to develop its trade and export finance business, thereby increasing the relevant portfolio by over 150 percent.
The project was advanced by new financial solutions for corporate clients, consistent development of relations with foreign financial institutions, priority development of new products and optimisation of the trade and export finance business process, the Bank said.
In 2013, the bank focused on trade and export finance on-balance deals, including pre-export finance and financing under Export Credit Agencies coverage. It implemented new product solutions, totalling more than 2.4 billion U.S. dollars for its clients. Additionally, the bank carried out over 1,000 transactions using documentary instruments worth approximately 2 billion U.S. dollars. A key growth indicator was the doubling of documentary credit operations. The financing of export letters of credit increased more than fivefold in the past year. The bank also enlarged its geography of export financing in the CIS, Asia and Africa.
VTB Bank has been working efficiently to optimise and expand cooperation with several Export Credit Agencies, including the Export Insurance Agency of Russia (EXIAR).
“I can say with confidence that the strategy of developing the bank’s trade and export finance business, which was adopted in late 2012, has helped us find new effective solutions for financing our corporate clients’ foreign trade. We plan to continue expanding this business, which has a major role to play in the strategy that is being developed for VTB Group,” Yuri Soloviev, First Deputy President and Chairman of VTB Bank’s Management Board, said.