OREANDA-NEWS. April 26, 2011. ARARATBANK was honored with German Commerzbank AG Relationship Award 2010 for ensuring high-quality SWIFT transfers and with Trade Finance Award 2010 for volume and quality of international trade finance, reported the press-centre of ARARATBANK.     
 
Prestigious Relationship Award certifies that SWIFT transfers being executed by ARARATBANK comply with international STP (Straight Through Processing) standards. The Bank offers its customers competitive conditions for transfers through SWIFT system. Possessing wide network of correspondent banks ARARATBANK applies policy of flexible rates. Transfer indicator of 2010 has exceeded the indicator of the previous year by 16.2%.

?Trade Finance Award 2010 certifies that during 2010 ARARATBANK has taken serious steps to expand the volumes of international trade finance through letters of credit and guarantees. In particular, the volume has increased by 250% as compared to the one of the previous year. Evaluating activity of the Bank and attaching great importance to cooperation Commerzbank AG extended a credit line to ARARATBANK for international trade finance.

ARARATBANK has been engaged in the international trade finance since 2007 and in 2010 it has registered unprecedented increase in volumes. Implementing Trade Facilitation Program (TFP) jointly with the European Bank for Reconstruction and Development documentary operations of ARARATBANK have exceeded the indicator of the previous year 5 times as much. In the framework of TFP ARARATBANK has introduced a new instrument – Revolving credit agreement (RCA), which is directed towards financing of import transactions. The project has been successfully implemented and exceed of EBRD project -envisaged limit by 1.5 times as much is the best proof of it.