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VTB Bank and EXIAR hold seminar on export financing

22 May 2013

VTB and EXIAR: Andrey Shishkov, Leonid Sirota, Mikhail Karyakin

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and VTB Group have held a seminar on practical interaction as part of their cooperation in export financing and fundamental approaches to export credit risk assessment. The seminar at VTB’s head office in Moscow was attended by over 100 representatives of VTB Bank.

Presentations were given by Mikhail Karyakin, Member of the EXIAR Management Board and First Deputy Director General, and Artyom Azarchenkov, Member of the EXIAR Management Board and Head of the Department for Underwriting, Risk Assessment and Insurance Products.

Mikhail Karyakin said that EXIAR’s goal is to create and introduce a modern system of financial support for exports guaranteed by the agency’s insurance coverage in Russia. He also provided information about EXIAR’s main insurance products, its performance in 2012 and its plans for 2013–2014.

Artyom Azarchenkov spoke about the agency’s main approaches to underwriting and risk assessment when insuring export transactions and about cooperation between VTB Bank and EXIAR.

VTB employees asked their EXIAR colleagues about the distribution of insured risks, the use of funded participation mechanisms for transaction insurance, cooperation in forming covenant and security packages, the pricing of risks in the CIS and other high-risk countries, the development of risk assessment methodology, scoring and other issues.

In April 2013 EXIAR and VTB Bank signed a strategic cooperation agreement, under which Russian exporters will be offered at least RUB 100 billion of funding under EXIAR’s insurance coverage by the end of 2015.

VTB Bank and its subsidiaries (VTB Group) are the leading financial group in Russia offering a wide range of banking services to clients in Russia, the CIS, Western Europe, North America, Asia and Africa. VTB Group has a network of outlets across Russia, the CIS and Europe.

In Russia VTB Group operates through one parent bank (VTB Bank) and five subsidiary banks. The largest of them are Bank VTB 24, Bank of Moscow and TransCreditBank.

Outside Russia the Group operates through 15 subsidiary banks in the CIS countries, including Armenia, Ukraine (two banks), Belarus (two banks), Kazakhstan and Azerbaijan, in Europe (Austria, Cyprus, Germany, France, the UK and Serbia), Georgia and Africa (Angola), as well as through two representative offices in Italy and China, two VTB branches in China and India, and five VTB Capital subsidiaries in Singapore, Dubai, Sofia, Hong Kong and New York.

As of 31 December 2012, VTB Group was the second largest financial group in Russia by assets (RUB 7.4157 trillion) and clients’ funds (RUB 3.6728 trillion). Its largest shareholder is the Russian Government, which owns 75.5% of the bank’s share capital through the Federal Property Management Agency.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in October 2011. Its only shareholder is the state-controlled Vnesheconombank (VEB). The charter capital of EXIAR amounts to RUB 30 billion. Its main goal is to support high-tech exports by insuring credit and political risks, and by insuring Russian investments abroad from political risks.

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