Vneshtorgbank and ZAO Citibank entered into a Cooperation Agreement on the banking market
A signing ceremony took place on July 31, 2003, when a Cooperation Agreement on the banking market was entered into between Vneshtorgbank and ZAO Citibank. Andrey Kostin, President and C.E.O., for Vneshtorgbank, and Allan Hirst, President, for ZAO Citibank, signed the Agreement.
The Agreement envisages a favorable environment to be created for mutual relationship development between the two banks in client services, inter alia, in arranging trade and project finance, syndicated loan facilities for clients of the parties to the Agreement, joint efforts of the banks in payments on the Russian and international markets to address demands of corporate and individual clients.
Furthermore, under the Agreement, combined efforts are expected to be made in anti-money laundering and against financing terrorism.
The Agreement would foster association of two banks` capabilities with a view to ensure more efficient and quality services for clients of both banks.
Reference information: Citigroup (NYSE: C), major global financial corporation handling over 200 million accounts in more than 100 countries worldwide, offers its individual, corporate and institutional clients a broad array of financial products and services in banking and investment business, insurance, broker services on the securities market, and asset management services. Citibank, CitiFinancial, Primerica, Salomon Sminth Barney, Banamex, and Travelers Life & Annuity are brand names integrated under the Citigroup red umbrella. For more detail on Citigroup see: www.citigroup.com.