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
International Bank for Economic Co-operation will provide financing to the Russian State Transport Leasing Company (STLC) in the amount of 1.5 billion rubles. This agreement was signed by Mikhail Poluboyarinov, CEO of GTLK, and Denis Ivanov, Chairman of the IBEC Management Board. Read more
In August and September International Bank for Economic Co-operation in partnership with Golomt Bank of Mongolia implemented a series of transactions for financial and non-financial support of Mongolia's foreign trade. A wide range of products offered by IBEC for the successful and efficient foreign trade operations is in demand by the Bank’s clients. The operations include documentary transactions and import financing. In particular, for the first time the Bank issued a counter-guarantee for Golomt Bank. The total amount of transactions for this period amounted to almost EUR 9 million with terms from 6 to 12 months. Read more