OREANDA-NEWS. Sberbank CIB Announces Trade Finance Operations results for 2013. In 2013, cooperation with foreign export credit agencies (ECA) actively picked up. The volume of new operations in this area amounted to about USD 1.5 bln for the reporting period. As a result, the portfolio of borrowed funds and ECA loans increased more than 2.5 times, exceeding \\$2 bln at the end of the year.

Moreover, in 2013 a series of framework agreements were signed with foreign partners including a general agreement with Japan Bank for International Cooperation (JBIC) in the amount of USD 600 mln, a memorandum of understanding with Export-Import Bank of Korea in the amount of USD 1.5 bln and several others.

Thanks to the successfully implemented strategy for the development of international operations and the introduction of a matrix management system for the trade finance business, the volume of TF&DOs (including guarantees and those secured by ECA) completed by the Sberbank Group’s foreign subsidiary banks in the CIS, Central and Eastern Europe, Turkey and Switzerland reached almost USD 9 bln.

The Sberbank Group offers a complete line of trade finance products and documentary business based on the best international practices. Moreover, the Sberbank Group is actively diversifying its product range and developing new business lines. In 2013, the first finance transactions with EXIAR coverage and in the area of aircraft financing were implemented. Sberbank is the first Russian bank to launch the new product line – Commodity Trade Finance – to finance commodity deliveries based on Sberbank (Switzerland) AG. A significant step in expanding the product line was to provide credit resources to international financial institutions. The first deal was made with the largest bank in the world – Industrial & Commercial Bank of China.