CBM considers Asia as strategically important region for expansion of its operations
In May 2019 the Bank's CEO Vladimir Chubar was appointed Deputy Chairman of the Russian-Chinese Financial Council (RCFC), one of the largest cross-border associations encouraging the development of business contacts between Russian and Chinese financial institutions. Now it unites 72 financial institutions: 34 in China and 38 in Russia.
Credit Bank of Moscow (CBM) has been a member of the RCFC since October 2017. As such, the Bank managed to set up ongoing interaction with leading financial institutions of China. The Bank intends to continue developing cooperation with Chinese financial institutions in various areas, including trade finance, syndicated lending, money market and stock market operations, and ECA-covered financing.
«We consider Asia as a key strategic region for business expansion, and China as a strategic partner for the entire Russian economy. Being a systemically important bank, CBM seeks to strengthen business relationships and ties between Russian and Chinese financial institutions, share information and develop joint business initiatives. We also plan to expand our operations with regional banks in China,» noted Vladimir Chubar.
CBM already has successful experience of working with Chinese financial institutions in correspondent banking, trade finance and syndicated lending. Chinese banks have participated in the Bank's syndicated loans for a number of years, increasing their investments. In April 2019 the Bank raised a USD 500 mln syndicated loan involving two Chinese banks: Bank ICBC (JSC) acted as mandated lead arranger and bookrunner and Harbin Bank as lead arranger. This speaks of the progress CBM has achieved in its relationships with both largest state-owned and regional banks in China.
The Bank is going to continue developing actively business in China and is intensifying its business activity in the Asian region in general. For instance, CBM's representatives have held a number of investor meetings in Hong Kong and Singapore this year, seeking to expand and diversify its investor base. CBM also plans to participate in two major business forums in Singapore and China.