OREANDA-NEWS.  July 23, 2012. Sberbank’s trade finance portfolio exceeded USD 8.2 billion with the volume of new transactions closed in the first half of 2012 amounting to USD 3.2 billion (44% and 49% growth respectively in comparison to Q2 2011 figures), reported the press-centre of Sberbank. 

It’s worth to mention the signing of trade finance framework agreements with HSBC Bank Plc. (for the amount of USD 2 billion) and Bank of America Merrill Lynch as well as the conclusion of the Memorandums of Understanding with Boeing Company and with the Export-Import Bank of the United States to finance trade-flows of goods from the US for the amount up to USD 1 billion. All these agreements were signed during St. Petersburg International Economic Forum.

Granting of  USD 275 million by Canada’s  export credit agency (EDC) and USD 100 million by Austrian export credit agency (OeKB) to finance trade transactions of Sberbank’s clients with exporters from these countries became unique for the Russian market.

First joint transactions were realized with VBI and Sberbank (Switzerland) AG  following Sberbank’s intention to  develop trade finance operations with participation of the foreign subsidiary banks of Sberbank group.

Export-support instruments is the perspective area that is being developed actively. Following the best international practices new products such as Supply Chain Finance and financing under the cover of the Export Insurance Agency of Russia (EXIAR) have been launched recently to support Russian exporters.