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Tuesday, December 12, 2017

RosBank's documentary obligtions portfolio grows by 47 percent

RosBank said Wednesday that its portfolio of trade finance documentary obligations increased 47 percent over the course of 2014.

The bank took steps in the previous year to help the region develop trade financing across seven regional teams with a pool of experts at their disposal. This allowed the network to grow its portfolio by 50 percent overall.

In the spectrum of documentary obligations the bank was able to conduct over 3,600 transactions which allowed their client pool to grow. Approximately 250 companies use the bank's services in this area.

"Rosbank continues to play a leading role in the market of documentary operations and trade financing among privately owned Russian banks in terms of the portfolio," RosBank Deputy Director of Transactional Banking Services and Head of Trade Finance Marianne Kuzanov said. "In the last year (the bank) significantly increased the volume of documentary transactions by strengthening cooperation with large corporate clients, including multinational companies, as well as increasing the share of mid-market customers. We expect that the size of the portfolio will increase by 25 percent by the end of this year as compared with the end of 2014"