Transcapitalbank Awarded as Best Issuing Bank in Europe
OREANDA-NEWS. May 20, 2010. Transcapitalbank is awarded as the best issuing bank in Europe and
During the 3rd Annual GTFP Bank Partners Meeting, which was held during the period of 27 -29 April, 2010, Transcapitalbank was awarded as "Best GTFP Issuing Bank for Risk Sharing Partnerships in Europe & Central Asia" by the results of the fiscal year 2009. The awarding ceremony was held in the Hotel Ceylan Intercontinental Istanbul, Turkey.
TCB has been recognized and highly professionally praised by IFC for the successful following of the "risk sharing" strategy (sharing risks between the foreign banks and IFC under trade finance transactions) during the crisis.
Transcapitalbank has joined IFC Global Trade Finance Program in May 2009 and within the first year of participation in GTFP the volume of IFC’s payment guarantees utilized by TCB while structuring foreign trade deals for its customers reached approximately USD 30 million. However, despite the fact that during that period, access to international financial markets for most of Russian private banks was actually closed, financial institutions – TCB’s counterparties in trade finance area continued to take TCB’s exposure both on an uncovered basis and with partial coverage (risk sharing). This is an evidence of the high reputation of the Bank on the international markets.
The participation of TCB in GTFP allows the Bank to expand the range of counterparties in the international financial markets, enhance competitiveness in trade finance and to attract new customers, carrying out foreign trade activities.
The IFC Global Trade Finance Program, launched in 2005, supports trade with emerging markets worldwide and promotes the flow of goods and services between the developing countries. IFC provides partial or full guarantees for individual trade transactions and covers the payment risk of the issuing banks in 72 countries. Currently, over 360 banks participate in GTFP.
Комментарии