OREANDA-NEWS. On 02 February 2009 was announced, that the European Bank for Reconstruction and Development named Raiffeisen Bank Aval the most active issuing Ukrainian bank within the 2008 international trade facilitation program.

As reported by the department of the state sector and trade financing of Raiffeisen Bank Aval, despite economic development slowdown in H2 2008, the year was generally successful for the bank's documentary business. Growth of average annual volume of the portfolio of performed documentary operations totaled 30%.

"In conditions of financial instability, one of the top priorities in the bank’s corporate business performance was an active development and promotion at the market of products-substitutes of traditional banking financing, comments Viktor Gorbachev, deputy chairman of the bank’s board. — The main advantages of Raiffeisen Bank Aval in the sphere of trade financing and documentary operations are flexible terms of cooperation and an individual approach to price formation on each transaction. The growth of the portfolio of performed documentary operations is a good confirmation of this fact".

An active performance of Raiffeisen Bank Aval in this sphere has been also confirmed by the European Bank for Reconstruction and Development, which awarded the bank with the title of "Ukraine’s Most Active Issuing Bank Within the EBRD Program of Trade Financing Development 2008".

Apart from this, the bank has become the first Ukrainian confirming financial institution within the Global Trade Facilitation Program (GTFP) of the International Finance Corporation.

"At that, the volume of limits established by international financial organizations for Raiffeisen Bank Aval made about USD 350 million, added Viktor Gorbachev. — It allows us and our clients to be proud of our successes and cooperation with international partners, as well as to be sure of our future".

Open Joint Stock Company Raiffeisen Bank Aval, founded in March 1992, is one of the largest Ukrainian banks in terms of a number of core parameters. For example, the bank’s total assets amounted to almost UAH 52.6 billion as at 1 October 2008, up 18 percent on the full year 2007, making it the number two on the local market.

Raiffeisen Bank Aval is a subsidiary bank of Raiffeisen International Bank-Holding AG. Raiffeisen International operates one of the largest banking networks in Central and Eastern Europe. 17 markets in Europe's growth region are covered by subsidiary banks, leasing companies and a range of other financial service providers. Over 14 million customers are serviced in more than 3,100 business outlets. RZB is the central institution of the Raiffeisen Banking Group and the majority shareholder of Raiffeisen International owning more that two thirds of the stock listed company.