OREANDA-NEWS. April 23, 2010. Within the framework of trade finance EBRD recognized Inecobank as the “Most active Issuing Bank in Armenia in 2009”. The Awards ceremony will take place at the Annual General Meeting of the Shareholders of EBRD in Croatia on May 15, 2010, reported the press-centre of Inecobank.

Inecobank provides trade finance since 2005 and offers its clients the following trade finance tools: letters of credit, guarantees, purchase order finance and trade finance loans. Guarantees and letters of credit are inexpensive and very convenient tools for international trade finance. They are designed to finance export/import of goods, to cover the advance payment and realize the agreement.

It is worth to mention that in 2007 EBRD recognized Inecobank as “The best trade finance bank in Armenia”.

“I think Inecobank’s success is associated with its flexible policy, particularly when it provides trade finance tools and tries to utmost satisfy customer needs while realizing so called “Structure Finance”, - states Inecobank’s deputy head of credit department Vaghinak Khachatryan.

During 2009 Inecobank provided 4 mln USD for trade finance, where 1.5 mln USD have been approved by EBRD. Within the framework of trade finance Inecobank cooperates with a number of other international organizations such as the OPEC Fund for International Development, Commerzbank and Atlantic Forfaitierungs AG.