Alfa-Bank was first raised $10 million loan Isibasi-Bank subsidiaries of China’s ICBC

KHABAROVSK, December 10. /Corr. Sergey Mingazov/. Alfa-Bank first attracted the target credit in US dollars from Isibasi Bank, the Russian subsidiary Bank of the largest Chinese Bank Industrial & Commercial Bank of China (ICBC Ltd.) for the purpose of trade Finance import operations of the client company. On Thursday said the regional Director of public relations of Alfa-Bank Margaret Markov.

“The agreement between the partners about the General terms of transactions of trade financing was signed in June, and now passed the first credit transaction Isibasi-Bank financed a Russian company client of Alfa-Bank in the amount of $10 million,” Markov told the correspondent of TASS.

Previously, the two collaborated only Bank under the letter of credit calculations.

“We are developing relationships with Chinese banks for two years, the Chinese colleagues with the name and business of Alfa-Bank. This work opens wide perspectives for our clients, focused on Chinese market”, – quoted the press service quoted the managing Director of trade Finance at Alfa-Bank Dmitry Minaev.

According to customs statistics, in January-September of 2015, China’s share in trade with Russia grew from 11.1% to 11.8%. In absolute terms turnover amounted to $46.8 billion, including imports of $25.5 billion and exports of $21.3 billion Despite the decline in the volume of transactions compared with the previous year, China remains the main trading partner of Russia.

Alfa-Bank develops a relationship with a Chinese Bank to support foreign trade activities of Russian companies-clients of the Bank. Service FEA is one of the priority directions of development of transactional business of the Bank. In 2015, the Bank offered its clients a new range of services for foreign trade.