VTB BANK was recognized as the best bank in the field of trade finance in Russia and CIS countries in 2015 by Global Trade Review magazine. Since the beginning of the year, the total volume of transactions carried out by the bank using the tools of the trade and export financing exceeded 220 billion rubles. In total over the past three years VTB has concluded new deals to the amount exceeding 500 billion rubles and increased its own portfolio by 7 times.
According to the results of 9 months of 2015 VTB signed with Chinese banks a number of agreements on trade and export financing to the total amount exceeding 160 billion rubles, on the basis of which the trade flows between China and Russia were financed. Another successful innovative project was the introduction of new products of export financing secured by EXIAR. VTB also proposed new financial solutions for the customers doing business in Asia-Pacific region.
The First Deputy President - Chairperson of the VTB Management Board Yuri Soloviev said: “This award confirms the correctness of the chosen VTB Group business development strategy in this direction. In the current conditions it is becoming particularly important to finance the customers carrying out production modernization and expansion into new markets. We are planning in future to actively increase trade and export finance, to introduce new technologies and ideas that will provide our customers with comprehensive solutions based on the best world standards”.
Global Trade Review magazine award was given to VTB according to the results of survey of more than 6000 professional participants of foreign economic activity and trade finance market. This periodical is independent and the most distinguished in the field of foreign trade and trade finance. VTB received this award along with such banks as Citi Bank, HSBC, Standard Chartered, Deutsche Bank and a number of other financial institutions, which became successful in other nominations.
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