News

International Bank for Economic Co-operation is increasing the volumes of documentary business. Another transaction with Belagroprombank has been carried out, the letter of credit in the amount of around USD 1.1 million was confirmed by IBEC. The funds were used to ensure the supply of agricultural products from Russia.

The International Bank for Economic Co-operation funded Saigon-Hanoi Commercial Joint Stock Bank (SHB) import letter of credit in the amount of USD 6.9 million. Funds are targeted to purchase agricultural products.

At the end of November, the 134th meeting of the Council, the highest governing body of IBEC, was held in Vietnam. Ms. Nguyen Thi Hong, Vice-governor of the State Bank of Vietnam opened the Council meeting with welcome speech. During the meeting, key issues of the bank’s development were considered. First of all, the implementation of the updated strategy of the bank was analyzed and approved, preliminary results of the 2019 were summed up. According to the results of 10 months, the Bank’s loan and documentary portfolio for the first time exceeded 300 million euros, and the bank’s assets exceeded the mark of 500 million euros.

In Hanoi, the capital of the Republic of Vietnam, the business forum «Enhancing Trade Cooperation of Vietnam with CEE and Eurasia» was held by the International Bank for Economic Co-operation co-organized by the State Bank of Vietnam.