VTB (Kazakhstan) tripled the number of FEA contracts

For seven months of the year, VTB (Kazakhstan) has increased the number of contracts up to 8.6 thousand within the framework of foreign economic activity. This is almost three times more compared with the same period of the last year. The total value of contracts within the framework of foreign economic activity amounted to 9 trillion KZT, demonstrating a twofold growth.

The greatest growth is noted in July: compared to July of the last year, the number of export contracts in the bank increased by 7.5 times, import contracts – by 2 times, and their volumes – by 4 and 2.5 times, respectively. According to Olesya Akylova, Director of the Corporate Clients Department of VTB (Kazakhstan), the number of contracts increased due to VTB’s active servicing of trade flows between Kazakhstan, Russia, and Belarus.

“Our task is to become one of the leading players in servicing foreign economic activity between Kazakhstan, Russia, and Belarus. We have prepared all the required infrastructure for conducting foreign economic activity within the bank – we offer our clients the most favorable tariffs for servicing and convenient services where key instruments are digitized. In VTB Business Internet banking you can make same-day cross-border payments and transfers in KZT and rubles, buy and sell rubles in real-time mode at a favorable exchange rate, and get advice on currency legislation. Foreign exchange contracts in VTB Business are registered within two hours of receiving a full package of documents. All these actions have become efficient – during this year we are recording significant business growth: since the beginning of the year, the number of foreign economic activity contracts in the bank’s portfolio has doubled, and their volumes have increased by one and a half times,” Olesya Akylova comments.

One of the most highly-demanded tools for VTB (Kazakhstan) FEA clients is cash settlement services with access to VTB Business internet banking. The service allows clients to buy and sell rubles online, make same-day cross-border payments and transfers to Russia, and receive advice on currency legislation. Also, the client will be able to pass currency control on the transaction, register, and assign a contract number in the system.