In 2019, International Bank for Economic Co-operation continued to implement its updated development strategy, focusing on key business areas (trade and syndicated financing, the SME sector and the green economy support, interbank settlements). By the end of the year, the Bank’s assets exceeded € 650 million, showing growth of more than 61% since the beginning of the year. Read more
IBEC has issued reimbursement obligations under two letters of credit of Belarusbank for a total amount of 15.5 million euros. The commitment period is two years. The performing and confirming bank for letters of credit is German Commerzbank, which participates in joint transactions with IBEC on a regular basis. Read more
International Bank for Economic Cooperation opened the 2020 business season with partners in the Asian region by a deal with Vietnamese Saigon-Hanoi Commercial Joint Stock Bank (SHB), following up its New Year activity in the Asian direction. The business forum held under the auspices of IBEC in November in Hanoi was the starting point for the development of new business contacts, which gradually grow into real projects and deals, as well as the intensification and strengthening of practical cooperation with existing partners of the bank. Read more
International Bank for Economic Co-operation took part in the bonds placement of the Romanian company BT LEASING TRANSILVANIA IFN S.A. The debut issue of BT Leasing securities was implemented through a private placement among institutional investors. The total amount raised is 40 million euros. IBEC acquired 14% (EUR 5.6 million) of the total issue. The organizer was BT Capital Partners, a division of investment banking and capital markets, Banca Transilvania Financial Group. Read more
International Bank for Economic Co-operation expands its partnership network in Belarus, which is an important trading partner for most of the bank’s member states. General Cooperation Agreement was signed with the MTBank, and the first trade finance transaction has already been implemented. Pre-export financing of heavy equipment supply from Belarus to Russia was provided in the amount of 2 million euros and for the period of 11 months. Read more