Rus News Journal

promsvjazbank has signed the agreement with Bank of China about financing of the foreign trade operations (news)

AKB « promsvjazbank » (Joint-Stock Company) declared signing of the agreement with Bank of China (The Bank of China) about financing of the foreign trade operations. The initial sum of the demand line of credit – 30 million dollars, it can be increased in process of use. Term of repayment for each chosen tranche – 1 year. Agreement signing expands possibilities « promsvjazbanka » in sphere of trading financing for the clients of bank participating in trade with China.

According to the senior vice-president – directors of department of the international business of Artema Konstandjana, the given agreement is important for the Russian bank sector. « For the first time the Bank of China has entered into the agreement with the Russian bank where except traditional documentary tools postfinancing of letters of credit » is used; – has noted g - n Konstandjan.

« promsvjazbank » considers development of business with the countries Asian - Pacific region, and first of all with China, as one of priorities of the activity. Since 2004 in Beijing the bank representation works. « promsvjazbank » has established the correspondent connexion with all leading Chinese banks. Presence of limits of credit risk from the Chinese banks allows to render the Russian clients such services as trading financing and international faktoring, providing for them more favourable conditions at carrying out of calculations with the Chinese partners.

« promsvjazbank » is one of recognised leaders in the market of the international trading and design financing. In 2006 by bank it is realised the given transactions for the sum 1. 5 bln. dollars, about 30 % make transactions of them between the companies of Russia and China.