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Vneshtorgbank received Euromoney award as best financial borrower - Emerging Europe

15 July 2005

Euromoney, a well-known British financial magazine, has named Vneshtorgbank best financial borrower - Emerging Europe.

Vneshtorgbank is a recognized leader among Russian credit institutions in the sphere of fund raising in international financial markets. In 2004, Vneshtorgbank's share in the whole external borrowings of the domestic banking system accounted for about 20%. The total amount of the funds raised in international markets over the period reached $2,580 mln.

In 2005, Vneshtorgbank also made some substantial borrowings, among which was a USD 740 mln subordinated loan, which allowed the Bank to considerably enhance its capital base.

Vneshtorgbank plans to enlarge the volume of borrowings in Russian markets as well. The Bank is set to place RUR 30 bln documentary bear bonds in the Russian financial market.

Euromoney award was another proof of Vneshtorgbank's high standing in the global business community and its huge growth potential in raising funds to be channeled into financing Russian economy.

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