News

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 conducted the first transaction with Belarusbank within the framework of the General Financing Agreement concluded in July 2019.

International Bank for Economic Co-operation continues to finance foreign trade operations of Golomt Bank (Mongolia) customers.

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.