CREDIT BANK OF MOSCOW receives award from IFC under Global Trade Finance Program for the fourth year in a row
On 4 October 2012 at annual bank partners meeting in Dubai CREDIT BANK OF MOSCOW was awarded by IFC (International Finance Corporation) as one of the best issuing banks in Eastern Europe in 2011 under Global Trade Finance Program (GTFP).
During 2011 the Bank participated in about 50 GTFP-supported transactions for $140 mln in value.
This was the fourth year in a row that IFC has recognized CREDIT BANK OF MOSCOW for its outstanding activity in the GTFP program. Based on performance in 2010 the Bank was awarded the similar prize – “Most active issuing bank in Eastern Europe”, in 2008 and 2009 it was recognized as the “Most active issuing bank in Europe and Central Asia”.
Cooperation with IFC under its Global Trade Finance Program lasts more than 6 years. CREDIT BANK OF MOSCOW was the first bank in Russia to join the GTFP program. Participation in Global Trade Finance Program allows the Bank to provide its clients with the most favorable terms of trade transactions financing all over the world.
Launched in 2005, IFC's Global Trade Finance Program helps to facilitate trade into and between emerging markets by providing guarantees that mitigate risks of trade-related transactions throughout its network of more than 250 issuing banks, such as CREDIT BANK OF MOSCOW, in over 90 countries. In 2012 financial year ended 30 June 2012 IFC provided guarantees for the total amount of $ 5.9 bln. Through the GTFP bank network uniting more than 400 banks, local banks can establish working partnerships with a vast number of major international and regional banks. By tapping the risk mitigation provided by the GTFP, international trade finance providers can enhance their global reach confidently, gain familiarity in new markets, and build relationships with quality counterparty banks in growth markets around the world.