UBRD Finances $200m Worth of FTCs

17 January 2013 (09:24)

January 17, 2013. In 2012, the Ural Bank for Reconstruction and Development offered its customers a total of nearly $200m in the form of foreign trade contracts financing. The contracts mainly had to do with the purchase of commodity goods like foods, electronics, machinery, and raw materials,’ the bank’s press officer reports.

‘The bank’s proactive position on the international markets struggling with challenging macroeconomic conditions is one more proof of our foreign creditors’ faith in the bank; this also promotes economic development in all the parts of Russia where the UBRD operates,’ says the bank’s International Business Director Sergey Sisoshvili.

Some of the bank’s partners are: Germany-based Deutsche Bank, Commerzbank, VTB Bank (Deutschland), and BHF-Bank, Switzerland-based Banque de Commerce et de Placements (BCP), the Scandinavian financial group Nordea Bank AB, the Italian financial group Unicredit, the North American Fifth Third Bank, and others companies. In the near future, the Austrian banking group Raiffeisen Bank International AG, the Swiss group Credit Suisse AG, the Italian banking group UBI Banca, and London Forfaiting Company Ltd (a part of FIMBank Group). It should be noted that the bank has been insured against all of the long-term risks relating to foreign trade transactions by export credit agencies.

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