OREANDA-NEWS. September 14, 2010. Hi-Tech Bank private closed joint-stock commercial bank and Ipak Yuli open joint-stock innovative commercial bank established correspondent relations.

As a result, Hi-Tech Bank became 17th loro-correspondent of Ipak Yuli bank.

In banking practice "loro" is a term used for correspondent account of the third party, opened at correspondent bank of the given credit institution. The account of correspondent bank in this credit institution is called "nostro".