IBEC’s role in the dynamically developing system of international economic relations — foreign trade service center for the Bank’s member states. Pursuant to its mandate, IBEC provides financing for trade operations of the member states, including support for foreign economic activity of small and medium-sized enterprises.

Alongside with dynamic development of its business and active build up of a high-quality portfolio, IBEC has started a quantitative assessment of the implementation of its mandate as a development bank and contribution to the economic development of its member states: the Bank now takes into account development portfolio, which includes various forms of support to counterparties from the member states, aimed at facilitating social and economic development, growth in prosperity and economic cooperation between the member states.

IBEC has long-term BBB- and short-term F3 investment-grade ratings confirmed by Fitch Ratings in 2018. The outlook is stable. The Bank has a wide network of correspondent banks in the IBEC member states and other countries. The operations of the Bank are not subject to sanctions established by EU Council Regulation No. 833/2014 dated July 31, 2014. The intergovernmental status of the Bank provides additional benefits to customers. The authorized IBEC capital is EUR 400 mln, including the paid-in portion of EUR 200 mln. In accordance with the decree of the Government of the Russian Federation, IBEC securities have been authorized for public offering and circulation in the territory of the Russian Federation.

The Bank is actively implementing plans to expand operations and enhance the customer base. This is clearly shown by the financial performance: in 2018, for the first time in IBEC history, assets exceeded EUR 400 mln. The growth is fueled by a dynamic build up of a new high-quality loan portfolio, which increased to EUR 134 mln, largely driven by the development of trade finance operations. Geographical diversification of the portfolio has improved due to customers from Bulgaria, Vietnam and the Czech Republic. The Bank is currently developing operations in all the member states in line with the priorities described in country strategies

News

12 Aug 2020
IBEC supports the development of the insurance business in the markets of its member states

IBEC supports the development of the insurance business in the markets of its member states

International Bank for Economic Co-operation has signed a loan agreement with the largest Bulgarian private holding company Eurohold, whose interests are focused on insurance, leasing, and financial services. A credit line with a total limit of EUR 20 million is provided for up to 2 years for the development of insurance business in the member countries of the Bank. The first tranche of EUR 11.5 million has already been disbursed. It aims at expanding Eurohold's existing insurance business in Poland, Bulgaria and Romania. The development program of the insurance group involves opening of new offices and points of sale, and expansion of the agent network.   Read more

03 Aug 2020
IBEC documentary instruments for Mongolia's foreign trade

IBEC documentary instruments for Mongolia's foreign trade

International Bank for Economic Co-operation has completed trade finance deals with one of its committed partners – Golomt Bank (Mongolia). IBEC issued reimbursement obligations totaling USD 3.5 million. They provide supplies of railway equipment from Germany and petrochemical products from Singapore to Mongolia. Stable business ties between the two financial institutions make it possible to promptly meet the needs of Mongolian importers, providing them with efficient and comfortable contract execution schemes.   Read more

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