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 Sep 2019
IBEC Factoring Debut

IBEC Factoring Debut

The International Bank for Economic Co-operation has begun the practical implementation of transactions for the development of international factoring. The first deal was closed on September 11th. IBEC provided financing to the National Factoring Company (NFC) Bank for the implementation of export factoring operations under a contract for the supply of Russian metallurgical products to Poland. It is noteworthy that the launch of a new product for the Bank goes in line with the support of foreign trade between the countries participating in the Bank, one of the key components of the IBEC mandate.   Read more

12 Sep 2019
Sustainable vector of cooperation with Belagroprombank to support export-import operations

Sustainable vector of cooperation with Belagroprombank to support export-import operations

IBEC has implemented another set of trade finance deals with Belagroprombank, one of its largest partners in the banking sector of the Republic of Belarus. IBEC provided financing in the amount of 3 million euros to pay for deliveries of Russian petrochemical products to Belarus. Pre-export financing transaction in the amount of EUR 0.7 million was also implemented to ensure the production of components and spare parts for the Russian automobile industry by the Belarusian enterprise for a period of up to 6 months.   Read more

03 Sep 2019
Agreement with Belarusbank in action

Agreement with Belarusbank in action

International Bank for Economic Co-operation conducted the first transaction with Belarusbank within the framework of the General Financing Agreement concluded in July 2019. IBEC confirmed the letter of credit opened by the Belarusian bank, with the subsequent provision of post-financing for a period of 360 days from the date of opening of the letter of credit. The deal is aimed at supporting the purchase of industrial equipment from Poland (a machine for weighing and labeling products for use in the food industry) by the Belarusian buyer.   Read more