OREANDA-NEWS. January 14, 2015. In 2014, VTB Bank proved to be the one of the leaders in trade and export finance: its respective portfolio increased by 40% to over RUB 230 billion. The volume of letters of credit with postfinancing or discounting of deferred payment increased over three-fold.

In 2014 VTB finalised more than 1,200 transactions, including over 500 where the bank’s risk was taken by international financial institutions. This year the bank focused on credit transactions: such newly originated deals exceeded RUB 70 billion.

Given VTB customers’ reorientation to new markets, particularly the Asia-Pacific Region, the bank has ensured it has the infrastructure in place to offer clients a wide range of products in regional currencies, including letter of credit financing and long-term financing under the Chinese export credit agency Sinosure in RMB. In 2014, the volume of transactions conducted by the bank’s Shanghai branch more than tripled, indicating growing customer demand.

First Deputy Chairman of the Management Board of VTB Bank Yuri Soloviev said: "VTB is one of the leaders in trade and export finance, and we plan to develop this business line in the future to help our clients develop relationships with new foreign trade partners."