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Monday, February 17, 2020

Belarusbank receives award from Commerzbank for cooperative foreign trade finance

Commerzbank recently awarded Belarusbank for its cooperation with foreign financial institutions in the area of foreign trade finance.

Belarusbank Chairman Sergei Pisarik was presented with the award for excellent cooperation based on performance in 2013 by Hovsep Voskanyan, the head of Commerzbank's Belarusian office.

Pisarik said Belarusbank strives to maintain strict compliance with its obligations to western counterparties.

"Using external sources we finance the import of complex technical products and high-tech equipment, and the construction of large facilities," Pisarik said. "These are significant investments in the country's economy. Supporting the real production sector is the core business area of our bank."

Belarusbank, which has been a partner of Commerzbank for more than 20 years, is the largest financial institution in Belarus, with more than 100 banking products.

The bank is, to date, the leader among banks in the nation in terms of capital and authorized funds, total assets, number of outlets, volume of loans given to clients, bulk payment and international business.