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VTB signs an agreement with BTMU (Europe) Ltd.

 
6 September 2011

VTB Bank has signed a framework agreement with BTMU (Europe) Ltd., British subsidiary of The Bank of Tokyo Mitsubishi UFJ Ltd. on financing under foreign trade contracts of VTB customers.

According to the agreement, VTB Bank is granted a short-term facility in USD, EUR or another currency to finance exporting/importing operations of its major customers in Russia.

VTB is among the most active Russian banks in the foreign trade financing market. In 2011, Trade Finance Magazine named VTB Best Russian Trade Bank.

In 2010 and 2011, under similar agreements with US, European and Japanese banks, VTB attracted over USD 1.5 billion in financing under contracts of the Bank’s Russian customers.

Forreference:

The Bank of Tokyo Mitsubishi UFJ Ltd (BTMU) was established in 1996 with the merger of Bank of Tokyo-Mitsubishi and UFJ Bank. It has over 350 branches and offices in Japan. In terms of assets, the bank is ranked 1st in Japan and 13th in the world; it currently holds “A” ratings assigned by international rating agencies. 100% of the company’s capital is held by Mitsubishi UFJ Financial Group (MUFG), formed in 2005 after the merger of Mitsubishi Tokyo Financial Group (MTFG) and UFJ Holdings (UFJ).

BTMU has more than 400 structural units abroad, including a representative office and a subsidiary bank in Russia and a subsidiary in the UK, BTMU (Europe) Ltd. Late in 2008, MUFG acquired 21% of Morgan Stanley’s stock.

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