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Cash management services

Background
Implementing one of the key objectives of the Bank's mission, IBEC provides a full range of services for the settlement and management of funds in the accounts of companies.
One of the unique features of IBEC that distinguishes it from other development banks is settlement and cash services and management of funds on accounts. Maintenance of settlements in various currencies, currency control services, conversion operations, placement of free funds in deposits and other services that ensure a high level of the company's activities.
Products
Opening and maintenance of accounts
IBEC provides a full range of services for opening and maintaining settlement accounts for companies in rubles and other currencies, as well as special pledge accounts. Making settlements with counterparties using non-cash money transfers.
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E-banking system
E-banking system based on web technologies.
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Currency control
Set of currency control services.
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Fixed-term deposits
A simple and profitable tool for increasing your company's free funds.
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Foreign exchange
Conversion operations for various currency pairs.
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Other products
Trade finance
Trade finance
Direct and syndicated financing
Direct and syndicated financing
Treasury operations
Treasury operations

News

IBEC loan and documentary portfolio grew by 20% in six months
IBEC loan and documentary portfolio grew by 20% in six months
12.07.2021
The International Bank for Economic Co-operation has summed up the preliminary results of its work in the first half of 2021. This is the first reporting period when the Bank operated in the paradigm of the new medium-term development strategy. The document, approved by the IBEC Council at the end of 2020, is based on the principle of "growth for stability", and already now the Bank's results indicate the correct approaches to its implementation. An important event was the upgrade of IBEC rating by Fitch to BBB (with a stable outlook) in March 2021 . Against the background of strengthening financial stability, the Bank's loan and documentary portfolio has grown by 20%, and for the first time has exceeded the figure of EUR 500 million, reaching EUR 519 million.
New Development Bank and International Bank for Economic Co-operation establish framework for cooperation
New Development Bank and International Bank for Economic Co-operation establish framework for cooperation
08.07.2021
On June 28, 2021, the New Development Bank (NDB) and the International Bank for Economic Co-operation (IBEC) signed a Memorandum of Understanding to establish a framework for strategic, technical and operational cooperation in areas of mutual interest and promote the development of long-term relations between the two institutions. The Memorandum was signed by Mr. Marcos Troyjo, NDB President, Mr. Denis Ivanov, Chairman of the IBEC Board, and Ms. Thinh Thi Hong, Member of the IBEC Board.
IBEC supports lending to small business in Mongolia
IBEC supports lending to small business in Mongolia
28.06.2021
The International Bank for Economic Co-operation continues to support trade operations of the SME sector in its member countries. The bank has supported a loan deal between the Mongolian Golomt Bank and the Russian Moscow Credit Bank (MKB). Golomt Bank, one of the leaders in the Mongolian banking sector and a traditional partner of IBEC, raised funds from MKB to finance the trade operations of its clients including small and medium-sized enterprises.
IBEC Supports Eastern European Issuers
IBEC Supports Eastern European Issuers
23.06.2021
The International Bank for Economic Co-operation has replenished its treasury portfolio with securities from Central and Eastern Europe. The total volume of purchases amounted to EUR 30 million, of which 23 million are securities for IBEC's own portfolio. Investments have replenished the loan and investment portfolio and the “development portfolio” of IBEC.
IFTD – debut at SPIEF
IFTD – debut at SPIEF
17.06.2021
The International Fund for Technological Development, established by IBEC together with the Government of the Russian Federation, took part in the work of the St. Petersburg International Economic Forum. The main goal of the Fund is to facilitate the transfer – that is, the creation, development, promotion and replication – of advanced technologies, as well as the localization of industries created on their basis for the long-term sustainable development of the economy of the Russian Federation and the economies of the IBEC member countries.
IBEC develops cooperation with the Joint Institute for Nuclear Research
IBEC develops cooperation with the Joint Institute for Nuclear Research
08.06.2021
The International Bank for Economic Co-operation and the Joint Institute for Nuclear Research (JINR) have signed a Cooperation Agreement. Two international organizations, financial and scientific, have 8 common members – all the IBEC member countries are also members of JINR. Therefore, the development of a partnership naturally fits into the logic of serving the interests of participants. It is symbolic that the signing of the document took place within the framework of the 136th Council meeting of the International Bank for Economic Co-operation. Due to pandemic restrictions, the IBEC Council is once again held online, so JINR representative, the director of the Institute, Academician of the Russian Academy of Sciences Grigory Trubnikov, also signed the agreement via remote access.
Roundtable at the SPIEF: Development Banks in the Post-COVID Period
Roundtable at the SPIEF: Development Banks in the Post-COVID Period
07.06.2021
The roundtable "Multilateral Development Banks in the Post- COVID Period: Old Challenges and New Opportunities" was held within the framework of the St. Petersburg International Economic Forum. The event was held under the patronage of the Ministry of Finance of the Russian Federation, it was attended by representatives of international financial organizations, where Russia is a member state – the World Bank, the Eurasian Development Bank, the Black Sea Trade and Development Bank, the Asian Infrastructure Investment Bank, the largest national development institute VEB.RF, and the largest Russian banks. The International Bank for Economic Co-operation was represented by its Chairman of the Management Board, Denis Ivanov, who acted as one of the key speakers.
IBEC and Europlan will help small businesses with mobility
IBEC and Europlan will help small businesses with mobility
03.06.2021
Denis Ivanov, Chairman of the IBEC Board, and Alexander Mikhailov, General Director of Europlan Leasing Company, signed a Credit Agreement at the St. Petersburg International Economic Forum. In accordance with the document, the Bank will provide Europlan with 2 billion rubles for a period of up to 3 years. The funds will be used to lease vehicles to Russian small and medium-sized businesses.
IBEС participates in the development of the Elga coal deposit
IBEС participates in the development of the Elga coal deposit
03.06.2021
On the sidelines of the SPIEF, a new promising project was drawn up – IBEC and Metpromstroy signed an Agreement of Intent on the provision of a guarantee. The document was signed by the Chairman of the IBEC Board Denis Ivanov and the President of Metpromstroy LLC Andrey Deineko.
IBEC successfully placed debut bond issue in Bulgaria
IBEC successfully placed debut bond issue in Bulgaria
03.06.2021
The International Bank for Economic Co-operation opened its credit history on the European market. IBEC has successfully completed its debut BGN-denominated bond issuance on the Bulgarian capital market, raising a 3-year unsecured funding for BGN 68 million (approx. EUR 35 million). The issue has a coupon of 1.15% per annum and is due 2024; it is rated BBB by Fitch. The transaction, facilitated by the Joint Lead Managers and Bookrunners Raiffeisenbank (Bulgaria) EAD and UniCredit Bulbank AD, attracted interest from diverse institutional investors in Bulgaria - credit institutions, pension funds, and asset managers.
IBEC signs an agreement with the Russian Export Center at the St. Petersburg Economic Forum
IBEC signs an agreement with the Russian Export Center at the St. Petersburg Economic Forum
03.06.2021
A delegation of the International Bank for Economic Co-operation, headed by the Chairman of the Bank's Board, Denis Ivanov, takes part in the work of the St. Petersburg International Economic Forum. SPIEF has long become a key Russian dialogue platform for politicians and businessmen, a place for discussing the most pressing issues of international development. This year, a significant part of the forum agenda is devoted to the issues of sustainable development, green investments, digital technologies, support for small and medium-sized businesses - topics that are relevant in the activities of IBEC and playing the important role in the new Development Strategy of the Bank.
IBEC becomes a member of the Green Loan Program for SMEs in Mongolia
IBEC becomes a member of the Green Loan Program for SMEs in Mongolia
03.06.2021
The International Bank for Economic Co-operation has supported the Green Loan Program of the Trade and Development Bank of Mongolia (TDBM) for small and medium-sized enterprises in Mongolia. IBEC has provided loan in the amount of USD 10 million for a period of up to 3 years. The total green financing volume under the GLP program is USD 50 million and is formed both from TDBM funds and with the support of a number of other banks, including international development institutions. The full implementation period of the Program is 5 years.
IBEC becomes a member of the Green Loan Program for SMEs in Mongolia
IBEC becomes a member of the Green Loan Program for SMEs in Mongolia
20.05.2021
The International Bank for Economic Co-operation has supported the Green Loan Program of the Trade and Development Bank of Mongolia (TDBM) for small and medium-sized enterprises in Mongolia. IBEC has provided loan in the amount of USD 10 million for a period of up to 3 years. The total green financing volume under the GLP program is USD 50 million and is formed both from TDBM funds and with the support of a number of other banks, including international development institutions. The full implementation period of the Program is 5 years.
IBEC signed the Code of Conduct in the Russian financial market
IBEC signed the Code of Conduct in the Russian financial market
18.05.2021
The International Bank for Economic Co-operation has joined the Code of Conduct for stock market participants. The declaration of accession was signed by the Chairman of the Board Denis Ivanov and the member of the Board Thinh Thi Hong.
Supporting SMEs trade in Poland and Uzbekistan
Supporting SMEs trade in Poland and Uzbekistan
17.05.2021
The International Bank for Economic Co-operation financed trade operations between Poland and Uzbekistan for the first time. IBEC issued a targeted trade loan to Qishloq Qurilish Bank. Among the shareholders of this bank are the Ministry of Finance of Uzbekistan and the Fund for Reconstruction and Development of the Republic of Uzbekistan. The key areas of activity of Qishloq Qurilish Bank correspond to the profile of a development institution – among its tasks are support for small and medium-sized businesses and assistance in the development of social infrastructure.
Presentation of the IFTD at the Financial and Business Association of Euro-Asian Cooperation
Presentation of the IFTD at the Financial and Business Association of Euro-Asian Cooperation
29.04.2021
The International Fund for Technological Development (IFTD), acting under the auspices of the IBEC, made a presentation within the framework of an enlarged meeting of the Board of the Financial and Business Association of Euro-Asian Cooperation (FBA EAC). The members of the Supervisory and Business Councils of the Association also attended the meeting.
ACRA confirms the highest rating for IBEC
ACRA confirms the highest rating for IBEC
27.04.2021
The Analytical Credit Rating Agency (ACRA) has affirmed the credit rating of the International Bank for Economic Co-operation on the international scale – A- and on the national scale for the Russian Federation – AAA (RU). The outlook on the affirmed ratings is Stable.
International Fund for Technological Development for the largest scientific cluster of the Moscow Region
International Fund for Technological Development for the largest scientific cluster of the Moscow Region
26.04.2021
The delegation of the International Fund for Technological Development (a joint project of IBEC and the Government of the Russian Federation) took part in the Business Reception on the 15th anniversary of the largest Russian Special Economic Zone (SEZ) "Dubna". Dubna is one of the leading Russian science cities, and its geographical location predetermined the science-intensive and high-tech profile of the SEZ. IBES is actively developing cooperation with the Joint Institute for Nuclear Research (JINR), the city-forming scientific association of Dubna, the director of which, Academician of the Russian Academy of Sciences Grigory Trubnikov, made a welcoming speech at the opening of the event. The IFTD will become another tool for the commercialization of advanced scientific developments and the introduction of new technologies, which, in particular, was the subject of recent negotiations between the leaders of JINR and IBEC.
New banking solutions for international trade
New banking solutions for international trade
26.04.2021
The International Bank for Economic Co-operation presented a project of a blockchain platform for trade finance at the 41st Online Banking Conference of the Banking Association for Central and Eastern Europe (BACEE) "Lessons from the pandemic – how the banking sector prepares for the post-COVID period".
IBEC acted as an investor in the bond markets of Central and Eastern Europe
IBEC acted as an investor in the bond markets of Central and Eastern Europe
23.04.2021
The International Bank for Economic Co-operation has taken part in a series of primary market bond deals in Central and Eastern Europe. All bonds meet the criteria of the IBEC development portfolio. The total amount of investments exceeded EUR 37 million.
IBEC and the Joint Institute for Nuclear Research - horizons for cooperation
IBEC and the Joint Institute for Nuclear Research - horizons for cooperation
13.04.2021
A delegation of the International Bank for Economic Co-operation headed by the Chairman of the Board Denis Ivanov visited the Joint Institute for Nuclear Research (JINR) in the city of Dubna. During the visit, a meeting with JINR Director Grigory Trubnikov and leading employees of the Institute took place, after which the Bank's representatives were shown the progress of work on the implementation of the flagship project – the NICA complex.
Representatives of International Bank for Economic Co-operation visited JINR
Representatives of International Bank for Economic Co-operation visited JINR
12.04.2021
On 9 April, a delegation of the International Bank for Economic Cooperation (IBEC) headed by Chairman of the IBEC Board Denis Ivanov visited JINR. The IBEC delegation also included a Member of the Board from the Slovak Republic Peter Osvald, Director of the Customer Relations Department Alexandra Matveeva, CRD Director Evgeny Podzharov, and Director of the International Fund of Technological Development (IFTD) at IBEC Vadim Kulikov. During the visit, the IBEC representatives had a meeting with JINR leaders, as well as visited VBLHEP where they were acquainted with the implementation of the JINR flagship project “NICA Complex”.
First trade finance deal with HDBank
First trade finance deal with HDBank
09.04.2021
International Bank for Economic Co-operation has started cooperation in the field of trade finance with HOCHIMINH CITY DEVELOPMENT JOINT STOCK COMMERCIAL BANK (HDBank), Vietnam. This is a forfaiting operation to repurchase a letter of credit debt in the amount of USD 4.8 million for a term of 16 months. IBEC financing ensures the procurement of equipment for the construction of solar power plants in Vietnam.
IBEC has added Eastern European bonds to its
IBEC has added Eastern European bonds to its "Development portfolio"
05.04.2021
International Bank for Economic Co-operation has replenished its treasury portfolio with securities from Central European issuers. The bank took part in bond issues of the Slovak Všeobecná úverová banka (VÚB) and the Czech gas distribution company Czech Gas Networks Investments. Both issuers meet the criteria allowing their securities to be included in the “Development portfolio” of IBEC – their activities contribute to maintaining a stable social and economic infrastructure in the member countries of the Bank.
Day of Slovakia at IBEC
Day of Slovakia at IBEC
23.03.2021
Chairman of the IBEC Board Denis Ivanov met with Ambassador Extraordinary and Plenipotentiary of Slovakia to the Russian Federation Lubomir Regak. The head of IBEC informed the Ambassador about the results of the two-year period of updating the Bank’s business model, the results of activities in 2020, the positive dynamics of international ratings, the first steps to implement the Development Strategy for 2021–2025.
Fitch upgraded IBEC’s rating to ‘BBB’
Fitch upgraded IBEC’s rating to ‘BBB’
10.03.2021
Fitch Ratings-London has revised the ratings of International Bank for Economic Co-operation (IBEC). Long-Term Issuer Default Rating (IDR) was upgraded to ‘BBB’, with Stable outlook. IBEC Short-Term rating has been upgraded to ‘F2’. In the context of the global socio-economic crisis caused by the COVID-19 pandemic, ratings upgrades are extremely rare and atypical for the international financial organizations (IFO). IBEC is only the second IFO to be upgraded by Fitch rating agency since the beginning of 2020.
IBEC acted as a co-organizer of Rosagroleasing bond issue
IBEC acted as a co-organizer of Rosagroleasing bond issue
03.03.2021
International Bank for Economic Co-operation acted as a co-organizer of the bond issue of JSC Rosagroleasing, a Russian state-owned leasing company specializing in the development and modernization of the agro-industrial complex. The bonds are placed today, March 3rd, at the Moscow Exchange. The organizers of the placement were Russian Agricultural Bank, Sovcombank, FC Otkritie Bank, International Investment Bank.
IBEC summs up the financial results of 2020
IBEC summs up the financial results of 2020
24.02.2021
International Bank for Economic Co-operation has disclosed its 2020 financial results in accordance with the International Financial Reporting Standards and Ernst&Young auditor’s report.
IBEC develops cooperation with Bashkortostan
IBEC develops cooperation with Bashkortostan
08.02.2021
Denis Ivanov, Chairman of the Board of the International Bank for Economic Co-operation, took part in the opening ceremony of the Ufa International Airport new terminal and in the meeting dedicated to the development of air transportation in the Volga Federal District of the Russian Federation. As a result of the implementation of the project worth 3 billion rubles, the total area and capacity of the air terminal complex of domestic air lines has doubled, the engineering and logistics infrastructure has been updated.
The Chairman of the IBEC Board was awarded the medal of the Russian Federation
The Chairman of the IBEC Board was awarded the medal of the Russian Federation
03.02.2021
Denis Ivanov, Chairman of the Board of the International Bank for Economic Co-operation, was awarded a state award of the Russian Federation — a Medal of the Order «For Merit to the Fatherland», II degree.
IBEC supports the export of Russian wheat
IBEC supports the export of Russian wheat
26.01.2021
International Bank for Economic Co-operation takes part in the financing of Russian wheat export. IBEC has issued a reimbursement undertaking in the amount of EUR 7.2 million for a period of more than a year as security for a letter of credit from the Trade and Development Bank of Mongolia.
IBEC bought
IBEC bought "social" bonds of Sovcombank
25.01.2021
International Bank for Economic Co-operation has acquired a package of four-year bonds of Sovcombank. The placement of the USD 300 million issue took place with the participation of HSBC, J. P. Morgan, ING, SberCIB, VTB Capital, Gazprombank, Unicredit Emirated NDB Capital, Renaissance Capital, Sova Capital.
IBEC takes on the role of investor in the bonds of the Council of Europe Development Bank
IBEC takes on the role of investor in the bonds of the Council of Europe Development Bank
19.01.2021
International Bank for Economic Co-operation took part in the IPO of the 10-year bonds of the Council of  Europe Development Bank.
IBEC finances Sovcombank
IBEC finances Sovcombank
15.01.2021
International Bank for Economic Co-operation takes part in arranging a syndicated loan for the Russian Sovcombank. Signing and issuance took place at the very end of 2020. Due to the high interest of investors, the initial amount was increased from USD 200 to USD 350 million. The syndicate members include leading international and Russian banks — UniCredit, Commerzbank, HSBC, ING Eurazia Credit Suisse Intesa, RRDB, Zenit, Rosbank.
IBEC financed the development of Russian aviation
IBEC financed the development of Russian aviation
14.01.2021
International Bank for Economic Co-operation provided a long-term loan to the Russian State Transport Leasing Company (GTLK) in the amount of 480 million rubles. At the expense of the IBEC financial resources, three localized aircrafts of the Czech brand L-410 were purchased and subsequently transferred into operation. This light aircraft is manufactured at the Ural Civil Aviation Plant in Russia.
Start of partnership with PJSB Trustbank
Start of partnership with PJSB Trustbank
29.12.2020
International Bank for Economic Co-operation continues to expand its partner network in the Asian region. The first deal with PJSB Trustbank from Uzbekistan was completed — IBEC issued a reimbursement undertaking under a letter of credit issued by Trustbank in the amount of USD 1 million.
Capitron Bank – new IBEC partner in Mongolia
Capitron Bank – new IBEC partner in Mongolia
21.12.2020
International Bank for Economic Co-operation has completed the first trade finance deal with Mongolian Capitron Bank.
IBEC – growth for stability. Bank’s Council approved a new development strategy for 2021-2025
IBEC – growth for stability. Bank’s Council approved a new development strategy for 2021-2025
15.12.2020
The 135th Meeting of the Council of the International Bank for Economic Co-operation was held on December 8. For the first time in the Bank’s history, the meeting was held in a unique videoconference format on the basis of a specialized platform for the meetings of collegial bodies. The only way to conduct it in a pandemic allows us to say that the Council was held simultaneously in all capitals of the IBEC member countries. The new format of the Council, to some extent, contributed to a more lively and intense dialogue, making it possible to connect to the event for many of the extremely busy heads of delegations, who are the leaders of the financial institutions of the member countries, and allowed them not to be distracted by organizational issues. Moreover, the agenda contained both traditional issues of annual performance results and a number of key topics on the further development of the Bank.
Denis Ivanov, Chairman of the Board of the International Bank for Economic Co-operation, gave an interview to the
Denis Ivanov, Chairman of the Board of the International Bank for Economic Co-operation, gave an interview to the "Eurasian Financial and Economic Herald"
12.12.2020
Denis Ivanov, Chairman of the Board of the International Bank for Economic Co-operation, gave an interview to the «Eurasian Financial and Economic Herald», in which he highlighted the peculiarities of IBEC’s activities during the pandemic and gave his assessment of the current trends in the world economy.
Trade finance deal with Trade and Development Bank of Mongolia
Trade finance deal with Trade and Development Bank of Mongolia
09.12.2020
International Bank for Economic Co-operation has implemented the first documentary trade finance transaction (irrevocable reimbursement obligation issuance) with the Trade and Development Bank of Mongolia (TDBM). The reimbursement obligation was issued in favor of one of the leading European banks within the framework of the implementation of a foreign trade contract for the supply of specialized construction and loading equipment to Mongolia — mobile cranes.
A unique scientific complex is launched with the support from IBEC
A unique scientific complex is launched with the support from IBEC
07.12.2020
The Joint Institute for Nuclear Research in Dubna has commissioned the first stage of the NICA complex. This is a superconducting accelerator that has no analogues in the world, which allows one to obtain a unique state of matter — quark-gluon plasma.
The CCI of Russia and the Bulgarian Chamber of Commerce demonstrated the investment potential of Bulgaria
The CCI of Russia and the Bulgarian Chamber of Commerce demonstrated the investment potential of Bulgaria
01.12.2020
On November 18, the presentation of the investment potential of Bulgaria, organized by the CCI of Russia and the Bulgarian CCI took place online.
The VII Moscow International Financial and Economic Forum was held on 27 November, 2020
The VII Moscow International Financial and Economic Forum was held on 27 November, 2020
01.12.2020
The Financial and Business Association of Euro-Asian Cooperation held the 7th annual forum «Greater Eurasia in Search of New Forms and Directions of Cooperation».The event was held with the support of the Russian Union of Industrialists and Entrepreneurs and the Eurasian Economic Commission.
IBEC opened a portfolio of forfaiting transactions
IBEC opened a portfolio of forfaiting transactions
27.11.2020
International Bank for Economic Co-operation is expanding its range of trade finance instruments. The first forfaiting deal is implemented — IBEC bought out the obligations of the Vietnamese SHB Bank in the secondary market from an international financial institution. The transaction amount is USD 2.5 million, for a period of 4 months.
IBEC takes part in the presentation of the Bulgaria investment potential
IBEC takes part in the presentation of the Bulgaria investment potential
20.11.2020
On November 18, the Russian and Bulgarian chambers of commerce and industry held a conference dedicated to the investment prospects of the Bulgarian economy, opportunities for cooperation between Russian and Bulgarian business circles.
Syndicated loan for the Uzbek Xalq Bank
Syndicated loan for the Uzbek Xalq Bank
19.11.2020
International Bank for Economic Co-operation took part in a syndicated loan for Xalq Bank (State Commercial People’s Bank). The subscription, organized by Deutsche Bank AG, raised USD 102.5 million for a period of 13 months. Together with IBEC, Russian and European financial institutions also took part in the transaction. IBEC financing is aimed at supporting the export of goods, works and services from the IBEC member countries – Russia, the Czech Republic and Poland – to Uzbekistan.
ACRA confirms the highest rating of IBEC on the national scale
ACRA confirms the highest rating of IBEC on the national scale
10.11.2020
The Analytical Credit Rating Agency (ACRA) has affirmed to the International Bank for Economic Co-operation its credit rating A- under the international scale and AAA (RU) under the national scale for the Russian Federation. The outlook for the affirmed ratings is Stable.
IBEC opens a credit line for leasing Russian aircraft
IBEC opens a credit line for leasing Russian aircraft
19.10.2020
International Bank for Economic Co-operation will provide financing to the Russian State Transport Leasing Company (STLC) in the amount of 1.5 billion rubles. This agreement was signed by Mikhail Poluboyarinov, CEO of GTLK, and Denis Ivanov, Chairman of the IBEC Management Board.
New deals with Golomt Bank of Mongolia
New deals with Golomt Bank of Mongolia
12.10.2020
In August and September International Bank for Economic Co-operation in partnership with Golomt Bank of Mongolia implemented a series of transactions for financial and non-financial support of Mongolia’s foreign trade.
IBEC invests in green bonds of Russian Railways
IBEC invests in green bonds of Russian Railways
01.10.2020
International Bank for Economic Co-operation takes part in a subscription to new "green" bonds of the Russian Railways. The yield on securities at the time of the placement is 7.25% per annum, which corresponds to a 1.65% premium to the yield on Russian federal loan bonds (OFZs). This is the largest environmental bond placement on the Russian market. Great interest from investors allowed the issuer to increase the volume five times - from 20 to 100 billion rubles. The issue was recognized by the Expert RA rating agency as complying with the Green Bond Principles of the International Capital Market Association (ICMA) and the Russian national methodology developed under the supervision of VEB.RF. The funds raised will be used to finance environmental projects of Russian Railways. “The environmental agenda is one of the important priorities in the new IBEC strategy, and therefore new Russian Railways bonds with the high quality of the issuer and the green focus of investments, have taken their place in the “development portfolio” of our Bank,” said Chairman of the IBEC Board Denis Ivanov.
IBEC guarantees promote Russian-Uzbek trade
IBEC guarantees promote Russian-Uzbek trade
29.09.2020
International Bank for Economic Co-operation has supported the export of Russian industrial products to Uzbekistan. The guarantee in the amount of USD 5 million was issued in favor of CREDIT BANK OF MOSCOW (RF) on behalf of Agrobank (Uzbekistan) as a security for a loan provided to finance foreign trade contracts.
Business Discussions with the Deputy Prime Minister of Bulgaria
Business Discussions with the Deputy Prime Minister of Bulgaria
11.09.2020
IBEC delegation held a meeting with Ms. Mariyana Nikolova, Deputy Prime Minister of Bulgaria in charge of Economic and Demographic Policy and Minister of Tourism. Boyko Kotsev, member of the IBEC Board and former Ambassador of Bulgaria to Russia, provided information on the Bank’s financial support for Bulgarian oil and gas, pharmaceutical, telecommunications and insurance sectors, as well as financing of Bulgarian exports.
IBEC supports export of Russian metallurgy to Uzbekistan
IBEC supports export of Russian metallurgy to Uzbekistan
02.09.2020
International Bank for Economic Co-operation takes part in the implementation of foreign trade contracts of the largest Russian exporter, Chelyabinsk Pipe Rolling Plant PJSC, providing for the supply of pipes of various nomenclatures from Russia to Uzbekistan. IBEC confirmed several letters of credit from Uzpromstroybank for a total amount of almost USD 2 million for up to 5 months.
IBEC green investments
IBEC green investments
31.08.2020
International Bank for Economic Co-operation continues to implement its plans to support green economy and social and environmental infrastructure projects. The Bank took part in the placement of a green bond issue by the Romanian group Globalworth. Against the background of the high interest from investors — the total volume of applications exceeded the 400 million issue by 2.5 times — IBEC purchased securities in the total amount of EUR 7 million. Bonds maturing in 2026 were placed with a yield of 3.4% per annum.
IBEC financial statements for the 1st half of 2020
IBEC financial statements for the 1st half of 2020
27.08.2020
International Bank for Economic Co-operation has disclosed interim financial results for the 1st half of 2020 in accordance with the international reporting standards with an auditor’s conclusion based on the results of the review.
IBEC finances trade relations between Russia and Armenia
IBEC finances trade relations between Russia and Armenia
25.08.2020
International Bank for Economic Co-operation continues to provide financial support to the development of foreign trade operations with the CIS states. Together with «Ardshinbank» CJSC (Armenia), IBEC finances two contracts for the supply of agricultural products from Armenia to Russia. Trade loans totaling EUR 4.5 million were issued for a period of up to 1 year and once again confirm the demand and effectiveness of trade finance products offered by IBEC.
IBEC supports the development of the insurance business in the markets of its member states
IBEC supports the development of the insurance business in the markets of its member states
12.08.2020
International Bank for Economic Co-operation has signed a loan agreement with the largest Bulgarian private holding company Eurohold, whose interests are focused on insurance, leasing, and financial services. A credit line with a total limit of EUR 20 million is provided for up to 2 years for the development of insurance business in the member countries of the Bank.
IBEC documentary instruments for Mongolia's foreign trade
IBEC documentary instruments for Mongolia's foreign trade
03.08.2020
International Bank for Economic Co-operation has completed trade finance deals with one of its committed partners — Golomt Bank (Mongolia). IBEC issued reimbursement obligations totaling USD 3.5 million.
IBEC and SHB – sustainable and mutually beneficial partnership
IBEC and SHB – sustainable and mutually beneficial partnership
28.07.2020
International Bank for Economic Co-operation continues active expansion of its trade finance portfolio. Vietnam is one of the important markets where such operations are especially in demand this year.
IBEC supports export of the Czech Republic
IBEC supports export of the Czech Republic
14.07.2020
Международный банк экономического сотрудничества предоставил средства для финансирования сделки по поставке энергетического оборудования из Чехии в Республику Беларусь. В частности были выданы целевые торговые кредиты на общую сумму порядка 1 млн евро сроком до 6 месяцев банку покупателя — одному из крупнейших и стабильных партнеров МБЭС среди финансовых институтов Республики Беларусь.
International and national development institutes join efforts to support the economies of Russia and Mongolia: IBEC has funded the development of Mongolia's railway infrastructure by attracting tied funding from Roseximbank JSC
International and national development institutes join efforts to support the economies of Russia and Mongolia: IBEC has funded the development of Mongolia's railway infrastructure by attracting tied funding from Roseximbank JSC
06.07.2020
International Bank for Economic Co-operation has provided a targeted loan to the Ulaanbataar Railway (UBTZ) for the purchase of locomotives produced by the Russian Transmashholding JSC. Tied financing for a period of 11 years from Roseximbank JSC with the insurance coverage by EXIAR, successfully attracted in June 2020, allowed the Bank to implement the transaction with the maximum efficiency.
Fitch Ratings confirms Positive Outlook on International Bank for Economic Co-operation
Fitch Ratings confirms Positive Outlook on International Bank for Economic Co-operation
22.06.2020
International rating agency Fitch Ratings has confirmed positive outlook on the rating of the International Bank for Economic Co-operation in the context of the ongoing global crisis caused by the COVID-19 pandemic. On March 11, 2020 Fitch Ratings has revised the Outlook on IBEC, namely: Long-Term Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at «BBB-». IBEC’s Short-Term IDR has been affirmed at «F3».
International Bank for Economic Cooperation places second ruble bond issue
International Bank for Economic Cooperation places second ruble bond issue
17.06.2020
On June 15, 2020, IBEC successfully placed second bond issue on the Moscow Exchange (series 001R-02). Investors reacted positively — the issue with a total nominal value of 5 billion rubles was fully subscribed.
IBEC supports the medical industry in Bulgaria
IBEC supports the medical industry in Bulgaria
15.06.2020
International Bank for Economic Co-operation has opened a credit line to the Bulgarian Doverie United Holding, which is part of the Sopharma AD group. The amount of financing is EUR 5 million, the funds will be allocated for the implementation of ongoing projects of the holding enterprises.
Wide geography of IBEC trade financing
Wide geography of IBEC trade financing
10.06.2020
International Bank for Economic Cooperation has funded two more letters of credit for foreign trade contracts for the supply of polypropylene from Vietnam. The total amount is USD 3.5 million. Transactions are carried out in cooperation with the IBEC’s permanent and largest partner in the Vietnamese market — Saigon-Hanoi Commercial Joint Stock Bank (SHB).
IBEC is developing business in Hungary
IBEC is developing business in Hungary
10.06.2020
International Bank for Economic Co-operation has carried out settlements for the supply of an indirect cooling system for a combined heat and power generation plant from Hungary to Russia. The cooling equipment is designed and manufactured by the leading European manufacturer Enexio Hungary Zrt. and contributes as a key component to the construction of a strategic infrastructure facility in the Russian Federation.
New deals with Golomt Bank
New deals with Golomt Bank
09.06.2020
International Bank for Economic Co-operation continues to develop active interbank cooperation with Golomt Bank, one of the leading financial institutions in Mongolia. Banks have implemented three trade finance transactions totaling USD 2,2 million.
IBEC invests in stability
IBEC invests in stability
05.06.2020
International Bank for Economic Co-operation is consistently implementing the mission to support the economic development of its member states. In the context of the global socio-economic turbulence caused by the coronavirus pandemic, such issues as government support for the population and business, monetary stimulus of economic activity, demand recovery, and financial markets support step forward.
Memorandum of Cooperation between IBEC and EDB
Memorandum of Cooperation between IBEC and EDB
04.06.2020
The International Bank for Economic Co-operation and the Eurasian Development Bank have concluded a Memorandum of Cooperation. The agreement was signed by Andrei Belyaninov, Chairman of the EDB Board, Denis Ivanov, Chairman of the IBEC Board, and Ms. Thinh Thi Hong, Member of the IBEC Board.
IBEC receives European credit rating
IBEC receives European credit rating
01.06.2020
On May 29, 2020, rating agency ACRA Europe a.s announced the assignment of a long-term foreign currency rating at «BBB» with a stable outlook to International Bank for Economic Co-operation.
IBEC Supports Vietnam's Foreign Trade
IBEC Supports Vietnam's Foreign Trade
31.05.2020
New trade finance deals were implemented in the Asian direction — in partnership with the Saigon-Hanoi Commercial Joint Stock Bank (SHB). IBEC provided financing under letters of credit opened for the export of polypropylene.
IBEC raises EUR 10 million loan from RBI
IBEC raises EUR 10 million loan from RBI
29.05.2020
This is the second time International Bank for Economic Co-operation signs a credit facility agreement with Raiffeisen Bank International AG (RBI) for EUR 10 million with a maturity of two years. The first loan agreement was signed by the parties in November 2019. The funds will be used to support continued growth of IBEC’s trade finance portfolio and business of corporate clients in accordance with the Bank’s development strategy.
IBEC and Uzpromstroybank - the beginning of mutually beneficial cooperation
IBEC and Uzpromstroybank - the beginning of mutually beneficial cooperation
25.05.2020
International Bank for Economic Co-operation continues to form a partnership network in Uzbekistan, implementing a new deal to support non-oil exports of its member states. IBEC issued a reimbursement obligation under a letter of credit opened for the purchase of the Russian metallurgical sector products.
IBEC provides financing to the leader of world metallurgy
IBEC provides financing to the leader of world metallurgy
19.05.2020
International Bank for Economic Co-operation has provided a long-term credit line to Metalloinvest company in the amount of up to 40 million euro. The agreement signed by IBEC and Metalloinvest ensures the provision of loans for 3 years, repayment within 7 years. The funds will be used to finance the cost of importing new high-tech equipment. In the context of macroeconomic and socio-political uncertainty, such a long-term transaction demonstrates the confidence of partners in mutual plans and sustainability of business processes.
IBEC receives the highest credit rating by ACRA on a national scale
IBEC receives the highest credit rating by ACRA on a national scale
19.05.2020
On May 18, 2020, the Analytical Credit Rating Agency (ACRA) announced that the International Bank for Economic Co-operation was assigned a credit rating on the international scale — A- with a stable outlook and AAA (RU) on the national scale for the Russian Federation, with a stable outlook. In accordance with the national ACRA rating scale, AAA (RU) is the highest rating for the Russian Federation.
Trade finance with Uzbekistan
Trade finance with Uzbekistan
14.05.2020
The International Bank for Economic Co-operation is expanding the geography of trade finance operations to support the foreign trade of its member states.
New IBEC trade deals
New IBEC trade deals
20.04.2020
International Bank for Economic Co-operation has implemented another deal to support Russian non-oil exports. A contract for the supply of Russian chemical products worth 0.8 million euro with a loan term of 6 months to Belarus was financed in partnership with Belagroprombank OJSC, one of the key East European partners of IBEC.
IBEC finances supply of fire equipment to Mongolia
IBEC finances supply of fire equipment to Mongolia
13.04.2020
International Bank for Economic Co-operation in partnership with the Development Bank of the Republic of Belarus (BRRB) has implemented a new project to support foreign trade operations. The transaction in the form of a trade credit in the amount of 4 million euro ensured the supply of Belarusian special vehicles, produced to extinguish fires and conduct rescue operations, to Mongolia. Engines are delivered complete with fire-fighting and rescue equipment. The social value of the contract meets the statutory objectives of IBEC in the development of both public infrastructure in member states and foreign trade in the territory of the Bank’s presence.
IBEC supports international trade in the midst of pandemic
IBEC supports international trade in the midst of pandemic
06.04.2020
International Bank for Economic Co-operation implements its mandate to support international trade despite the pandemic crisis, which has spread not only throughout the territory of the Bank’s member states but has grown into a global planetary threat. In conditions of a forced reduction in business activity, the breakdown of supply chains and production and trade relations, maintenance and financial support for existing contracts are crucial. Now the priority statutory tasks of IBEC as a multilateral development institution focused on the development of international trade have become especially relevant for the economies of all member states of the Bank, for all our partners and customers, including partners from third countries. Active promotion of a range of trade finance products over the past year and a half allows IBEC to offer the market effective and optimum solutions.
IBEC supports international trade in the midst of pandemic
IBEC supports international trade in the midst of pandemic
06.04.2020
International Bank for Economic Co-operation implements its mandate to support international trade despite the pandemic crisis, which has spread not only throughout the territory of the Bank's member states but has grown into a global planetary threat. In conditions of a forced reduction in business activity, the breakdown of supply chains and production and trade relations, maintenance and financial support for existing contracts are crucial. Now the priority statutory tasks of IBEC as a multilateral development institution focused on the development of international trade have become especially relevant for the economies of all member states of the Bank, for all our partners and customers, including partners from third countries. Active promotion of a range of trade finance products over the past year and a half allows IBEC to offer the market effective and optimum solutions.
Dear colleagues, clients and partners!
Dear colleagues, clients and partners!
03.04.2020
Today, the whole world, all human civilization has faced a global threat that has jeopardized the usual way of life, prevailing business practices, our personal plans and social prospects. The joint efforts of political leaders, governments, business community, and international organizations are aimed at countering the pandemic, minimizing economic, social, humanitarian losses and the following early recovery of the normal functioning of our common home — planet Earth.
Dear colleagues, clients and partners!
Dear colleagues, clients and partners!
03.04.2020
International Bank for Economic Co-operation actively uses a diversified line of trade finance products, putting together instruments of financial and non-financial export support in member states and CIS.
IBEC develops cooperation with the Russian Export Center
IBEC develops cooperation with the Russian Export Center
02.04.2020
International Bank for Economic Co-operation actively uses a diversified line of trade finance products, putting together instruments of financial and non-financial export support in member states and CIS.
New IBEC loans for European trade
New IBEC loans for European trade
25.03.2020
In March International Bank for Economic Co-operation has implemented a series of trade finance deals with the Belarusky Narodny Bank (BNB-Bank). New loans in the Belarusian direction ensure geographical diversification of business and growth of foreign trade activity in the area of IBEC presence.
Fitch revises outlook of IBEC’s investment grade rating to Positive
Fitch revises outlook of IBEC’s investment grade rating to Positive
12.03.2020
On March 11, 2020 Fitch Ratings-London has revised the Outlook on International Bank for Economic Co-operation (IBEC), namely: Long-Term Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at «BBB-». IBEC’s Short-Term IDR has been affirmed at «F3».
IBEC develops complex trade finance products
IBEC develops complex trade finance products
04.03.2020
International Bank for Economic Co-operation actively uses a diversified line of trade finance products, putting together instruments of financial and non-financial export support in member states and CIS.
IBEC opens Uzbekistan
IBEC opens Uzbekistan
03.03.2020
International Bank for Economic Co-operation performed as one of the leading organizers of a syndicated loan for the Uzbek bank Asaka. Credit resources in the amount of 100 million euro were provided for a year and a half to finance foreign trade contracts of IBEC member states. IBEC acts as an organizer of syndication in partnership with Alfabank and AK Bars Bank and provides 12 million euro.
Targeted support of IBEC export-import operations in cooperation with Belagroprombank OJSC
Targeted support of IBEC export-import operations in cooperation with Belagroprombank OJSC
26.02.2020
In 2020, International Bank for Economic Co-operation continues to expand in the sector of trade finance, relying on the already existing financial partnerships. Over the past period, from the beginning of the year, two significant transactions were concluded with a longtime partner of IBEC — OJSC Belagroprombank, which was provided with financing in the amount of more than 4 million euro.
2019 IBEC financial statements
2019 IBEC financial statements
25.02.2020
International Bank for Economic Co-operation has disclosed its financial results in accordance with the International Financial Reporting Standards with an auditor’s report for the past year.
The first guarantee transaction with the Republic of Belarus
The first guarantee transaction with the Republic of Belarus
21.02.2020
International Bank for Economic Co-operation is expanding the range of trade finance instruments with partners from the Republic of Belarus, using efficient and customer-friendly transaction schemes. The Bank issued a payment guarantee under 100% coverage by the counter-guarantee of the Belarusky Narodny Bank. Guarantee period — one year, transaction amount — 0.4 million euro.
IBEC Green Agenda
IBEC Green Agenda
20.02.2020
The International Bank for Economic Co-operation and Golomt bank (Mongolia) have signed a Memorandum of Understanding. It is aimed at developing a «green economy» and denotes joint plans of financial institutions to finance environmental projects in Mongolia, IBEC member states and regions of Bank’s presence.
IBEC supports export of Polish pharmaceuticals
IBEC supports export of Polish pharmaceuticals
11.02.2020
International Bank for Economic Co-operation acted as a partner in the export program for the export of Polish pharmaceutical products. IBEC confirmed the standby letter of credit issued by Alfa-Bank CJSC, Belarus. The beneficiary of the transaction is the largest Polish company operating in the pharmaceutical field.
IBEC received the second investment grade rating
IBEC received the second investment grade rating
31.01.2020
International rating agency Moody’s Investors Service Ltd. (Moody’s) has assigned a first-time «Baa3» foreign currency long-term issuer rating to the International Bank for Economic Co-operation (IBEC) with the stable outlook. This is the second investment level rating obtained by the bank after the start of the implementation of the updated development strategy and new business profile. In March 2017, Fitch Ratings assigned a long-term rating of BBB-, with a stable outlook, and a short-term rating of F3.
Preliminary Results of IBEC Activities in 2019
Preliminary Results of IBEC Activities in 2019
23.01.2020
In 2019, International Bank for Economic Co-operation continued to implement its updated development strategy, focusing on key business areas (trade and syndicated financing, the SME sector and the green economy support, interbank settlements). By the end of the year, the Bank’s assets exceeded € 650 million, showing growth of more than 61% since the beginning of the year.
Record Turnover in Trade Finance Transactions
Record Turnover in Trade Finance Transactions
20.01.2020
IBEC has issued reimbursement obligations under two letters of credit of Belarusbank for a total amount of 15.5 million euros. The commitment period is two years. The performing and confirming bank for letters of credit is German Commerzbank, which participates in joint transactions with IBEC on a regular basis.
IBEC invests in BT LEASING TRANSILVANIA bonds to support SME and sustainable-energy sectors
IBEC invests in BT LEASING TRANSILVANIA bonds to support SME and sustainable-energy sectors
27.12.2019
Международный банк экономического сотрудничества принял участие в размещении облигаций румынской компании BT LEASING TRANSILVANIA IFN S. A. Дебютный выпуск ценных бумаг BT Leasing был проведен через частное размещение среди институциональных инвесторов. Общая привлеченная сумма составляет 40 млн евро. МБЭС приобрел 14% (5,6 млн евро) от общего объема эмиссии. Организатором выступил BT Capital Partners, подразделение инвестиционного банкинга и рынков капитала Banca Transilvania Financial Group.
IBEC develops relations with Armenia
IBEC develops relations with Armenia
20.12.2019
International Bank for Economic Co-operation and Ardshinbank (Armenia) have provided financing under a foreign trade contract for the supply of consumer goods from Russia to Armenia. Funds in the amount of 0.6 million euros were allocated for six months.
IBEC Council summed up the development of the bank in 2019 and outlined new prospects
IBEC Council summed up the development of the bank in 2019 and outlined new prospects
05.12.2019
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.
134th IBEC’s Council Meeting
134th IBEC’s Council Meeting
03.12.2019
On November 29, 2019, the State Bank of Vietnam (SBV) in collaboration with the International Bank for Economic Co-operation (IBEC) organized the 134th IBEC’s Council Meeting in the city of Ha Long, Vietnam. This was the periodical meeting of the IBEC’s Council with the attendance of Ministerial-level representatives of the IBEC member countries. SBV Deputy Governor Nguyen Thi Hong attended and made an opening speech at the Meeting.
IBEC: Enhancing trade cooperation of Vietnam with CEE and Eurasia
IBEC: Enhancing trade cooperation of Vietnam with CEE and Eurasia
03.12.2019
On November 27, 2019 in Hanoi, the State Bank of Vietnam (SBV) in collaboration with the International Bank for Economic Co-operation (IBEC) organized a Business Forum with the theme of «Enhancing trade cooperation of Vietnam with Central-Eastern Europe (CEE) and Eurasia» on the occasion of the 134th meeting of the IBEC Council in Vietnam. SBV Deputy Governor Nguyen Thi Hong chaired the Forum.
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