OREANDA-NEWS. July 03, 2014. Sberbank won two awards at the annual Trade & Forfaiting Review1 (TFR) Excellence Awards in two categories: ‘Best Trade Bank in Russia and the CIS’ and ‘Best Local Trade Bank in Country.’

Winners of the TFR Awards 2014 were determined with the help of voting by global industry representatives, including leading economic analysts, directors of organizations and financial institutions and trade finance experts.

“These awards are an evaluation of Sberbank’s rapidly growing trade finance business and another confirmation of our excellent reputation in trade finance,” said Andrey Ivanov, Head of Trade Finance and Correspondence Relations Division at Sberbank CIB2. “Today, we not only occupy the leading position in trade finance in Russia and the CIS, but we are steadily growing operations at the Sberbank Group’s foreign subsidiaries in Central and Eastern Europe, Turkey, Switzerland and India. Considering the growth prospects for Sberbank Group’s internal base with a presence in 22 countries, we are actively building a global trade finance platform, which already allows us to provide clients the broadest and most integrated solutions for servicing the flow of goods.”

As of April 1, 2014 the portfolio of current trade finance deals exceeds USD15 bln. In March of this year, Sberbank’s Board approved the trade finance and documentary business five year development strategy within the Sberbank Group. The bank set the ambitious goal to be the largest servicer of Russian foreign trade turnover among Russian banks by the end of 2018.

In 2014, Sberbank was also recognized as the best trade finance bank in Russia and the CIS by two international finance magazines – Global Trade Review and Global Finance.