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

05 Nov 2019
New IBEC reimbursement deal

New IBEC reimbursement deal

The International Bank for Economic Co-operation continues to actively develop instruments to support foreign trade operations of its clients. IBEC acted as a reimbursing bank under a letter of credit issued by Golomt Bank(Mongolia), providing financing for the supply of food products to Mongolia from Poland. This operation ensured the implementation of the contract between the two member countries of the Bank, demonstrating the effectiveness of the financial infrastructure which is being created by IBEC for its clients.   Read more

28 Oct 2019
International Bank for Economic Cooperation finances Balkan Stream

International Bank for Economic Cooperation finances Balkan Stream

The International Bank for Economic Co-operation has provided a loan to Bulgartransgaz EAD, which is a combined operator performing licensed activities of natural gas transmission and storage in Bulgaria. The loan agreement was signed at the Bulgarian Embassy in Moscow in the presence of the Ambassador Extraordinary and Plenipotentiary Mr. Atanas Krastin on October 22 - the 56th anniversary of the IBEC foundation.   Read more

23 Oct 2019
IBEC begins cooperation with Armenia

IBEC begins cooperation with Armenia

International Bank for Economic Co-operation for the first time implemented a deal with a bank from Armenia. Ardshinbank, which is a new partner, is one of the three leading national financial institutions. The first step in cooperation between the two banks was taken at the end of September 2019, when the General Financing Agreement was signed. This made it possible to promptly agree on the terms of the first transaction, and already in mid-October IBEC provided Ardshinbank with pre-export financing in the amount of 3.5 million euros for a period of up to six months to credit the export of fruits and vegetables to Russia.   Read more