International Finance Magazine has named VTB Bank the best trade-finance bank in Russia.

Even though trade declined globally last year, VTB Bank kept developing its business by completing more than 400 transactions in its main markets across Commonwealth of Independent States, Europe and other countries, such as Turkey, Angola and India, according to a press release on the bank's website. To build such a robust international trade capability, VTB has partnered with more than 100 financial institutions around the world.

"Our performance in 2016 and its recognition by well-respected independent international publications is confirmation of the bank’s clear strategy in trade and export finance, which is aimed at offering the best financing solutions for our clients’ international operations," Yuri Soloviev, first deputy president and chairman of VTB Bank's management board, said in the release. "We look forward to further developing this segment."  

Since 2015, VTB Bank has been named the best trade finance bank in the country and in the CIS from three other finance publications as well.