Number of transactions for documentary operations and trade financing of VTB Bank (Kazakhstan) has increased by 33%
713 tools for documentary operations and trade financing to the amount of more than 23,3 billion tenge have been operating in VTB Bank (Kazakhstan) as of May 4, 2014. In comparison with the same period of 2013 number of issued transactions has increased by 33%.
Olga Emelyanova, Director of the Department of Corporate Business Development: «Growth of indexes is explained by increase of the customer base of the Bank, development and strengthening of the branch network, as well as by big focus of the Bank on documentary products and trade financing. Thus, 865 instruments to the amount of 11,3 billion tenge have been issued only for I quarter of 2014».
Unsecured and tender guarantees were the most popular products during the reporting period. In 2014, plans for development of trade financing and documentary operations assume an increase of
portfolio and yield by 20-30%.
For reference:
SO JCS VTB Bank (Kazakhstan) - is 100% subsidiary Bank of the largest Russian OJSC VTB Bank. License of the FSA of the RK No. 1.1.259 dated 22.05.2009.
VTB Bank and its subsidiaries form international financial group which conducts its activities in Russian and foreign markets. VTB Group consists of more than 30 banks and financial companies in 20 countries of the CIS, Europe, Asia and Africa. The major shareholder of VTB – is the Government of the Russian Federation (60,9%).
VTB Group provides full range of financial services, including bank servicing of private and corporate customers, investment and banking and additional financial services including leasing, factoring, insurance and pension coverage.