Global Finance names VTB leader in trade finance in Russia and emerging markets
For the first time, VTB Bank has been recognised as ‘The Best Bank in Trade Finance in Emerging Markets’, and for the sixth time as ‘The Best Bank for Trade Finance in Russia’ by international finance publication, Global Finance. An expert jury, which included representatives from leading banks, industry analysts, heads of large companies, selected the winner based on a number of criteria, including the volume of transactions, international presence, customer focus and innovation.
Supporting customers with a full range of trade and export finance products is one of the VTB’s priorities. In 2021, there was an increased interest in export financing solutions from companies in emerging markets. In turn, the bank's team actively worked on individual and innovative solutions for customers, executing over 500 transactions with counterparties from more than 45 countries.
VTB demonstrated a significant increase in the volume of support for both Russian exports and financing trade operations for clients from the CIS countries. In addition, due to the global presence of VTB Group, it was possible to implement a number of transactions unique for the Russian banking group, including those involving international export credit agencies - German Euler Hermes and Chinese SINOSURE.
Yuri Soloviev, First Deputy President and Chairman of the Management Board of VTB Bank, said: «Over the past year, the trade and export finance team has actively worked to expand the range of trade and export finance products and services, find optimal solutions for our clients and complete their effective implementation. This allowed VTB not only to maintain its position as the best bank in this area in Russia, but also to become a leader in emerging markets. I am glad that VTB’s activities have once again been recognized by the international expert community, and I am confident that the professionalism and expertise of our team will allow us to continue supporting customers in an ever-changing market environment.»
VTB Bank provides trade and export finance products and services not only in the Russian market, but also in CIS, Asia and Europe. VTB Group, due to its global presence, provides comprehensive support for Russian exports, including through financing of foreign partners of Russian clients, a wide range of credit products and documentary business operations.
Global Finance magazine has been published in the United States since 1987. It is currently distributed in 163 countries, with a total circulation of over 50 thousand copies. The target audience of the magazine includes top managers and CFOs of international companies and financial institutions responsible for making investment and strategic decisions.