VTB has been named best bank for trade finance in Russia and the CIS in 2015 by Global Trade Review magazine. Year to date VTB has concluded trade and export finance transactions worth more than RUB 220 billion. The bank has grown its portfolio more than seven times over the past three years, with transaction volumes totalling around RUB 500 billion.
In the first nine months of 2015 VTB signed a number of trade and export finance agreements with Chinese partners worth more than RUB 160 billion, driven by financing of trade flows between China and Russia. Another successful and innovative project was the introduction of new financing projects guaranteed by the Export Insurance Agency of Russia. VTB also offered new financial solutions for clients doing business in the Asia-Pacific region.
«This award is due recognition of VTB's strategy to grow its trade and export finance business. In current market conditions it is particularly important to provide financing to clients who are upgrading their production capacities and entering new markets. We plan to continue increasing trade financing volumes, and to introduce new products and ideas that will provide our clients with complete solutions in line with the best standards globally».
First Deputy President and Chairman of the Management Board of VTB
The Global Trade Review award was based on a survey of more than 6,000 market professionals involved in foreign economic activity and trade financing. Global Trade Review is an independent publication that is a leading authority in its field. VTB was named as the best bank in its geography alongside global peers including Citi, HSBC, Standard Chartered and Deutsche Bank that won their respective nominations.