VTB Bank has been named the best trade finance bank in Russia by International Finance Magazine (IFM). The annual IFM award recognises organisations for their significant contribution to the development of the financial services industry through outstanding performance and innovative approach.
Despite a decline in global trade in 2016, VTB continued to develop its business, offering active support and cutting-edge solutions in foreign trade operations to its customers. The bank has completed over 400 client transactions in its core markets across Europe and the CIS, as well as in China, India, Brazil, Egypt, Indonesia, Peru, Nepal, Turkey, Bangladesh, Algeria, Ethiopia, Angola and other countries. Many of these projects were implemented in partnership with over 100 international financial institutions around the world.
The trade finance agreements signed with Chinese banks in 2016 allowed VTB to expand trade and export finance products offer for customers working with Asian partners.
Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board, noted: «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. We look forward to further developing this segment.»
In 2015–2017, VTB Bank won awards as the best trade finance bank in Russia and the CIS from Global Finance, Trade & Forfaiting Review and Global Trade Review.