CREDIT BANK OF MOSCOW wins award as the “Most Active Issuing Bank in Europe and Central Asia” in IFC’s Global Trade Finance Program

29.04.2010

<p>Istanbul, April 29, 2010—CREDIT BANK OF MOSCOW was recognized by the International Finance Corporation (IFC) as the “Most Active Issuing Bank in Europe and Central Asia” in IFC’s Global Trade Finance Program in 2009. CREDIT BANK OF MOSCOW was awarded the recognition at IFC’s annual GTFP Bank Partners Meeting, held this year in Istanbul, with more than 100 institutions attending the trade finance conference. The bank participated in nearly 60 GTFP-supported transactions for more than USD 90 million in value. This was the second year in a row that IFC has recognized CREDIT BANK OF MOSCOW for its outstanding activity in the GTFP program. </p> <p>Launched in 2005, IFC’s Global Trade Finance Program helps to facilitate trade into and between emerging markets by providing risk mitigation on trade-related transactions with partner issuing banks such as CREDIT BANK OF MOSCOW. The program has supported the continued flow of trade credit to banks and enterprises in the emerging markets through the recent financial crisis, helping to ensure the movement of critical imports and helping countries generate much-needed foreign exchange through supporting export activity. IFC provides partial or full guarantees for individual trade transactions throughout its network of more than 180 issuing banks in more than 80 countries. In its first four years of operation close to 6,000 GTFP guarantees have been issued supporting over USD 7 billion in trade finance transactions. </p> <p>CREDIT BANK OF MOSCOW was the first issuing bank in Russia to join the IFC GTFP program in 2006. CREDIT BANK OF MOSCOW started the GTFP program with a USD 10 million uncommitted trade finance guarantee facility, which has grown year by year as the bank has scaled up its trade finance and other international business activity, and which is now USD 100 million.</p> <p><i>About CREDIT BANK OF MOSCOW</i></p> <p>CREDIT BANK OF MOSCOW is a universal privately owned commercial bank set up in 1992. CBM’s business is focused in Moscow and Moscow Region as the most perspective regions for its future business development. It reaches its clients through 55 outlets, more than 300 ATMs and 1000 payment terminals. The bank reported total assets of RUB 87 billion and equity of RUB 11 billion as at YE 2009. Rapid growth rates and high effectiveness for the recent years allowed CBM to be recognized among Top-50 largest banks in 2009 and to reach 41st place by assets as at YE 2009. CREDIT BANK OF MOSCOW is rated B by Fitch and B1 by Moody’s. </p> <p><i>About IFC</i></p> <p>IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. It fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise and providing advisory and risk mitigation services to businesses and governments. IFC’s new investments totaled USD 14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit www.ifc.org. </p> <div align="center"><img src="/file/6ef085fe-5306-48a5-9e19-78aa02045258" /></div>