VTB Bank has become the first Russian bank to receive full access to China’s interbank bond market. VTB in cooperation with Bank of China developed the required
VTB has signed agency and settlement agreements with Bank of China and has opened special settlement accounts and depository accounts with China Central Depository & Clearing Co (CCDC) and Shanghai Clearing House (SHCH), as well as account with China Foreign Exchange Trading System (CFETS). Operational testing of this infrastructure is currently in final stage.
China’s domestic bond market is the third largest market globally in terms of issued debt securities. It is worth the equivalent of more than USD 5 trillion. Access to secondary market trading will help VTB Bank increase the number of its local counterparties and will also boost
«We have taken one more important step towards strengthening Russia-China interbank relations, this will allow us to offer a unique investment service to the bank’s clients. Strategic partnership with China’s largest banks, including Bank of China, is of crucial significance for VTB Bank as it helps to improve and extend the product offering for our clients.».
President and Chairman of VTB Bank Management Board