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American Express Bank names Vneshtorgbank Best Bank in Trade Finance and International Settlement

3 March 2005

On 3 march 2005, Mr. GB Cagninelli, executive director of American Express Bank (AEB), New-York, presented Vneshtorgbank (VTB) with Certificates of Excellency in the following cooperation spheres:

  • Trade Finance - for a considerable volume and diversity of instruments applied in foreign trade finance of VTB and AEB customers;
  • International Settlement - for efficient and fruitful cooperation.

Vneshtorgbank is a leading Russian bank in the sphere of foreign trade settlement. The Bank has been successfully cooperating with foreign export credit agencies and export-import banks, which accept VTB short- and long-term risks.

Having a wide network of correspondent accounts almost in all foreign currencies, VTB has gained strong competitive advantages and is one of the main international settlement banks for most Russian companies and financial institutions.

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