Russia's VTB Bank arranged deals worth more than $4 billion in 2013, increasing its relevant portfolio by more than 150 percent as part of its effort to develop its trade and export finance business.
The bank focused on trade and export finance on-balance deals, implemented new product solutions totaling more than $2.4 billion and carried out more than 1,000 transactions using documentary instruments worth approximately $2 billion.
VTB also enlarged its geography of export financing in the CIS, Asia and Africa. The bank has been working to optimize and expand cooperation with several Export Credit Agencies, including the Export Insurance Agency of Russia.
"I can say with confidence that the strategy of developing the bank's trade and export finance business, which was adopted in late 2012, has helped us find new effective solutions for financing our corporate clients' foreign trade. We plan to continue expanding this business, which has a major role to play in the strategy that is being developed for VTB Group," Yuri Soloviev, the first deputy president and chairman of VTB Bank's Management Board, said.
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