NewsRSS

CREDIT BANK OF MOSCOW opened correspondent account with one of the world’s largest banks - Citibank N.A.

14.09.2010

CREDIT BANK OF MOSCOW opened correspondent account with Citibank N.A. in New York. This account opening is the evidence of high level of confidence in CBM on the part of its partners, its reliability, transparency of its business and the Bank’s excellent reputation in the international market.

Citibank N.A. is one of the largest financial institutions with extensive network of correspondent bank relations worldwide. Citibank N.A. processes over 225mln transactions and over USD 1.7 trillion daily on average that constitutes a considerable share of the total volume of operations in US dollars.

Establishment of correspondent relationship with Citibank N.A. will allow CBM to streamline the offered settlement services. The Bank will also be able to provide services to its clients within the shortest time frame and with the minimum costs.

CBM extensively widens the network of the partner banks all over the world in order to offer its customers favourable conditions when serving their international contracts. As at 03 September 2010 CBM had direct correspondent relations with 21 foreign financial institutions in 12 countries all over the globe.