IBEC enhances support for exports of the Bank’s member states
International Bank for Economic Co-operation has provided Expobank LLC with the trade related loan of EUR 4.9 mln for a period of 1 year to finance the costs of the Russian exporter associated with further export of materials for metallurgy industry to the Republic of Belarus.
The trade finance deal has become the first step towards practical implementation of the General Agreement signed by the parties at the beginning of the year 2019.
According to the updated IBEC Strategy target financing to support export and import operations of the Bank's member states, including operations with third countries together with geographical diversification of the portfolio are an essential part of the Bank’s key activities. Both parties plan to expand mutual further cooperation by financing clients’ deals in the markets of IBEC member states.
Expobank LLC is one of the major Russian banks, working in the Russian banking sector since 1994. The Bank has been rated high by leading rating agencies. In March 2018 Analytical Credit Rating Agency (ACRA) assigned to Expobank a credit rating of ВВВ+(RU), Outlook Stable. In September 2018 Fitch Ratings affirmed Expobank’s International Long-Term IDR at “B+” and revised the Outlook from Stable to Positive. Expobank LLC is a member of the Deposit Insurance System of the Russian Federation.