IBEC supported BACEE conference as a «silver» sponsor

On 15-16 October 2018 D. Ivanov, IBEC Chairman of the Board, participated in the events of the 37th conference of the Banking Association of Central and Eastern Europe (BACEE) that took place in Budapest, Hungary. IBEC supported this annual financial event as a «silver» sponsor.

The main theme of this year’s BACEE conference was the evaluation of risk measurements and analysis of opportunities related to the development of the financial sector of Central and Eastern Europe (CEE) and Commonwealth of Independent States (CIS).

Over 120 leaders and experts of the CEE financial organizations took part in the conference, as well as specialists from Austria, Albania, Belarus, Germany, Italy, Romania, Russia, etc. Within the course of the conference participants discussed cooperation among banking institutions of CEE and CIS, mainstreaming export-import operations, possible expansion of SME support in the region, risk management and compliance issues, implications of digital innovations for the financial sector, etc.

D. Ivanov presented IBEC, specially emphasizing the fact that most of its shareholders are CEE countries, and shared with the audience basic provisions of the Further Development Concept, aimed at an active development of IBEC’s business and product line extension.

Special attention was paid to the need of international cooperation for achieving stated goals and meeting the needs of companies in project finance and development. Active international collaboration, in the opinion of D. Ivanov, is the essential condition for improving cross-border trade support.

IBEC Chairman also outlined current product line and briefly highlighted general results and perspectives of IBEC business in CEE region. D. Ivanov presented the idea of establishment of a banking group with the International Investment Bank (IIB). The shareholders of both banks are now considering such possibility providing that both banks will operate as independent institutions with own business profiles. As it seems the implementation of the concept of integration of IIB and IBEC into the group will significantly increase the return of two banks for countries, improve product and geographical diversification of operations and will provide greater financial effect.

Furthermore, in the course of the visit to Hungary, IBEC delegation held a meeting with the representatives of OTP Bank, where the parties signed the Strategic Cooperation Agreement. The Agreement is aimed at giving the existing cooperation a more practical angle and defined the following areas of possible cooperation: trade finance operations, supporting the export activity of goods and services towards IBEC member states, organizing and participating in syndicated loans, supporting SMEs, participation in PPP projects, etc.

The parties discussed current collaboration in trade finance and debt financing. Taking into account experience of OTP Bank, as well as new course of IBEC development, parties expressed confidence in successful cooperation perspectives and readiness to move forward along with negotiated arrangements.