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The Memorandum of Understanding between IBEC and DBM Leasing, a subsidiary of the Mongolian Development Bank, was signed at the Moscow office of the Bank by the IBEC Chairman of the Board Denis Ivanov and the President of DBM Leasing Purevsuren Ganbat. The new partner of the bank specializes in leasing operations in infrastructure areas such as transport, agriculture, mining, the supply of medical equipment, focusing, inter alia, on supporting foreign economic activity. The memorandum determines areas of future cooperation — IBEC intends to provide credit resources and contribute to the successful implementation of investment projects in Mongolia with the support of DBM Leasing. The head of the company, Purevsuren Ganbat, ex...

Today, on October 9th, IBEC’s bond issue series 001P-01 (ISIN code: RU000A100VX2) settled at Moscow Exchange. The bond issue in the amount of RUB 7 bn was fully placed. The Lead-Managers of the deal were Raiffeisenbank, Sberbank CIB, Rosselkhozbank and Sovcombank.

The International Bank for Economic Co-operation has begun the practical implementation of transactions for the development of international factoring. The first deal was closed on September 11th. IBEC provided financing to the National Factoring Company (NFC) Bank for the implementation of export factoring operations under a contract for the supply of Russian metallurgical products to Poland. It is noteworthy that the launch of a new product for the Bank goes in line with the support of foreign trade between the countries participating in the Bank, one of the key components of the IBEC mandate.

International Bank for Economic Co-operation (IBEC) has published interim condensed IFRS financial statements for the first half of 2019. For the second year in a row, the Bank publishes semi-annual reporting, demonstrating its transparency to customers and partners.