Uralvneshtorgbank was awarded for competing the European Bank for Reconstruction and Development Trade Financing Program. The bank joined the program in October 2005, upon receiving a $7m line of credit.

The excellent performance of the bank’s trade financing experts and its impressive transaction portfolio made Uralvneshtorgbank Russia’s leading regional crediting organization. It was supported by some large foreign investors such as ACE Global Markets (AGM), Catlin Syndicate 2003, XL Syndicate 1209, and Kiln Syndicate 510 at Lloyd’s of London, therefore the European Bank for Reconstruction and Development increased its line of credit from $7m to $14m.

‘This is a very important event. A lot of regional banks are trying to cooperate with the international financial bodies (including the European Bank for Reconstruction and Development) nowadays. Yet Uralvneshtorgbank is the first regional bank to be trusted so much as to be backed up by some large international investors. Getting an award like this is the result of our efforts that symbolizes the global recognition of our work,’ says the International Operations Director of Uralvneshtorgbank Dmitriy Shotin.