‘Uralvneshtorgbank (as it then was) had a reputation for its trade financing offers; now that it has merged with SibAcademBank, the bank’s trade financing potential has increased dramatically under the new brand,’ Vice President of URSA Bank’s Ural branch Vadim Manin says.

‘Given that URSA Bank is on Russia’s Top 20 largest banks list in terms of net assets, a lot of foreign companies and banks we’ve been doing business with are eager to offer us even more favorable financing terms,’ Mr. Manin notes.

‘Trade financing is an ever-developing product at the moment, so the list of our customers is getting longer and longer. Uralvneshtorgbank was one of Yekaterinburg and Sverdlovsk Region’s major players on the market, so, upon the completion of the merger, our main challenge has been seen as making the product popular in the regions where URSA Bank’s Ural branch operates. So far, we’ve been able to start offering trade financing schemes in most of our subsidiaries,’ Mr. Manin added.