OREANDA-NEWS. June 07, 2010. Sberbank and Citibank have announced the closure of the deal on providing USD 150 million trade finance to Sberbank for 1 year. The loan was extended within a previously signed agreement and will be directed to streamline trade finance operations for Sberbank’s clients, reported the press-centre of Citibank.

Andrey Donskikh, Deputy Chairman of the Board at Sberbank, said: "This deal is an important step towards deepening relations between Sberbank and Citibank in terms of trade finance. The provided credit line will add to further development of Sberbank’s product line for larger and the largest corporates doing external-economic activity".

Zdenek Turek, President of ZAO Citibank, said: "Sberbank is one of the largest Russian banks in terms of trade finance business. We are glad that Citibank acts as a partner in this deal. Cooperation between these two sound brands provides additional opportunities in trade finance and will help strengthen Sberbank’s international business ties with world financial institutions".