CBM develops cooperation with the banks of Mongolia
Credit Bank of Moscow together with International Investment Bank supported the purchase of food supply from Russia. CBM provided credit to the Golomt Bank for financing a trade contract with Russia for the purchase of food supply guaranteed by the International Investment Bank.
“CBM is interested in the developing of business negotiations with Mongolian banks and in the support of Russian exporters in the region”, comments Natalia Bakhova, the Head of Trade Finance Department, CBM, “We are developing cooperation with the international Institutions within a pool of products and also providing financing under our clients’ export contracts. Russian manufacturers are widening their sales regions and export of agro-industrial complex’s products is showing good dynamics. Russian companies are selling wheat, rapeseed, chocolate, flour products, sunflower oil to Mongolia.”
International Investment Bank is a multilateral development bank, established with the aim of supporting economic development and collaboration of shareholder countries.
Golomt Bank is one of the largest privately owned banks in Mongolia with main specialization of providing services to major corporate clients in the country while keeping its’ balanced business portfolio of corporate, SME and retail. The Bank maintains credit ratings from the leading international Rating Agencies: S&P (B/stable)/Moody’s (B3/ Negative). In terms of foreign transaction and trade finance facilities, they serve as the leading bank in Mongolia according to the latest Swift watch report.