OREANDA-NEWS. May 24, 2010. EBRD announced LOCKO-Bank “Most active Issuing Bank in Russia in Short-term trade finance in 2009.” The award was granted during the TFP Award Ceremony that was held in Zagreb, Croatia as part of the EBRD Annual Meeting. This honorary award emphasizes LOCKO’s success in the development of its Trade Finance business despite the complicated market environment, reported the press-centre of LOCKO-Bank.

The TFP Issuing Bank Agreement was signed between LOCKO-Bank and the EBRD in September 2005. Since then the facility has been increased several times up to USD50 million to support the constantly growing trade finance business of the Bank.

According to Mr. Dmitry V. Kryukov, Chairman of the Executive Board, “LOCKO-Bank is truly honored to receive the award. The Bank’s management highly values EBRD’s continuous support and confidence in successful realization of the Bank’s strategy.”