VTB Bank (Kazakhstan) announces the launch of new product for small businesses «Letters of credit for small businesses».
Business owners are offered various types of letters of credit: covered / uncovered, letters of credit with payment upon submission of documents / with delay of payment and executedwith mixed payment. The Bank also offers transferable (negotiable) and standby letters of credit.Letters of credit can be provided as anindependent tool or as a part of a credit line.
In favor of beneficiaries who are residents of the country - letters of credit are provided in tenge, in favor of non-residents - in any currency in accordance with terms of a contract between a customer and its partner. Herewith maximum amount of a letter of credit - no more than 750 000 000 tenge (or equivalent in other currency).
Term of a letter of credit depends on requirements of a customer and terms of a contract concluded between it and its partner.
Letter of credit has longrecommended itself as the most secure form of settlements in which alltransaction participants win. Using letters of credit of VTB Bank (Kazakhstan), a purchaser can guaranteeits solvency to a supplier and be protected from risks arisingwhile working with new partners. A seller gets guarantee of timely payment for shipped goods or providedservices, which in turn allows him to develop sale markets and to expand list of its customersquickly.
SO JCS VTB Bank (Kazakhstan) - is 100% subsidiary Bank of the largest Russian OJSC VTB Bank.
License of the NB of the RK No. 1.2.14/39 dated 23.12.2014.
The Bank was assigned international rating at the «BB+» / «Negative» forecast level from Standard & Poor’s Agency.
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%).