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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 company accounts.
One of the unique features of IBEC that distinguishes it from other development banks is the provision of services in the field of 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 account
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 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.
Vietnam and Europe - prospects for trade cooperation. The second IBEC business forum was held in Hanoi
Vietnam and Europe - prospects for trade cooperation. The second IBEC business forum was held in Hanoi
28.11.2019
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.
Formal meetings with leaders of the Vietnamese economic bloc
Formal meetings with leaders of the Vietnamese economic bloc
27.11.2019
Prior to the IBEC «Vietnamese» week, which opens on November 27 with the business forum «Enhancing trade cooperation of Vietnam with CEE and Eurasia», the Chairman of the Bank’s Board Denis Ivanov met with the leaders of the economic bloc of the Republic of Vietnam.
Party official hails IBEC’s support for Vietnam
Party official hails IBEC’s support for Vietnam
26.11.2019
Politburo member and head of the Party Central Committee’s Economic Commission Nguyen Van Binh received Chairman of the Board at the International Bank for Economic Cooperation (IBEC) in Hanoi on November 26.
Promising cooperation with the Development Bank of the Republic of Belarus
Promising cooperation with the Development Bank of the Republic of Belarus
25.11.2019
The International Bank for Economic Co-operation and the Development Bank of the Republic of Belarus (DBRB) have implemented the first joint transaction on financing the foreign trade operations. Funds in the amount of €15 million were provided to finance the supply of Belarusian non-resource exports to Poland, one of the IBEC member states.
IBEC expands its resource base: EUR 10 million loan from RBI Group
IBEC expands its resource base: EUR 10 million loan from RBI Group
18.11.2019
International Bank for Economic Co-operation signed a loan agreement with Austrian Raiffeisen Bank International AG (RBI). RBI will provide IBEC with 10 million euros for a period of 2 years. The funds will be used in the key IBEC business profiles in accordance with the Bank’s updated development strategy. First of all, to increase trade finance operations, which is now one of the priorities and successful business lines and almost completely covers the geography of IBEC presence.
International Bank for Economic Cooperation finances Balkan Stream
International Bank for Economic Cooperation finances Balkan Stream
28.10.2019
The International Bank for Economic Co-operation has provided a loan to Bulgartransgaz EAD, which is a combined operator performing licensed activities of natural gas transmission and storage in Bulgaria. The loan agreement was signed at the Bulgarian Embassy in Moscow in the presence of the Ambassador Extraordinary and Plenipotentiary Mr. Atanas Krastin on October 22 — the 56th anniversary of the IBEC foundation.
IBEC begins cooperation with Armenia
IBEC begins cooperation with Armenia
23.10.2019
International Bank for Economic Co-operation for the first time implemented a deal with a bank from Armenia. Ardshinbank, which is a new partner, is one of the three leading national financial institutions. The first step in cooperation between the two banks was taken at the end of September 2019, when the General Financing Agreement was signed. This made it possible to promptly agree on the terms of the first transaction, and already in mid-October IBEC provided Ardshinbank with pre-export financing in the amount of 3.5 million euros for a period of up to six months to credit the export of fruits and vegetables to Russia.
IBEC activates its presence in Mongolia
IBEC activates its presence in Mongolia
11.10.2019
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, expressed confidence that the partnership between the two organizations in the foreseeable future will be brought into practice and will contribute to the development of the Mongolian economy and foreign trade.
International Bank for Economic Co-operation placed debut bond issue
International Bank for Economic Co-operation placed debut bond issue
09.10.2019
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.
Another factoring deal
Another factoring deal
07.10.2019
Cooperation between International Bank for Economic Co-operation and National Factoring Company bank, one of the largest Russian players in this sector of financial services, continues its active development. Another transaction was implemented — to finance factoring payments for a period of 3 months.
New IBEC projects to support foreign trade of the Czech Republic, Poland and Russia
New IBEC projects to support foreign trade of the Czech Republic, Poland and Russia
03.10.2019
The International Bank for Economic Co-operation continues its active policy of supporting economic cooperation in the Eastern European region. At the end of September, two more trade finance transactions with Belagroprombank were implemented. Their total amount is about 1.1 million euros with the comfortable for participating companies period of 1 year.
IBEC Factoring Debut
IBEC Factoring Debut
12.09.2019
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.
IBEC published financial statements for the first half of 2019
IBEC published financial statements for the first half of 2019
27.08.2019
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.
IBEC supports the innovative development of European transport infrastructure
IBEC supports the innovative development of European transport infrastructure
27.08.2019
International Bank for Economic Co-operation has provided funding of € 15.18 million to the Polish company Laude Smart Intermodal to finance the purchase of innovative intermodal freight railway containers and platforms of Russian and Belarusian production. The Chairman of the IBEC Board Denis Ivanov and the General Director of the Polish company Mr. Marcin Witczak signed the loan agreement and the surety agreement on August 27 at the IBEC headquarters. This is the first transaction to finance a Polish company in the new history of the Bank, as well as one of the most long-term projects in the current IBEC portfolio. The Agreement is signed for up to 7 years.
IBEC Supports Advanced Scientific Research
IBEC Supports Advanced Scientific Research
21.08.2019
International Bank for Economic Co-operation participates in implementation of NICA, a unique international scientific project at the Joint Institute for Nuclear Research in Dubna. NICA (Nuclotron based Ion Collider fAcility) is a new accelerator complex designed at the Joint Institute for Nuclear Research (Dubna, Russia) for the purpose of studying properties of dense baryonic matter.
Denis Ivanov, Chairman of the IBEC Board, took part in the live broadcast of the «Business Day» program on RBC TV channel
Denis Ivanov, Chairman of the IBEC Board, took part in the live broadcast of the «Business Day» program on RBC TV channel
01.08.2019
Denis Ivanov, Chairman of the IBEC Board, took part in the live broadcast of the «Business Day» program on RBC TV channel.
IBEC Builds Up Documentary Portfolio for Pharmaceutical Industry Support
IBEC Builds Up Documentary Portfolio for Pharmaceutical Industry Support
04.07.2019
Considering the existing positive and active co-operation IBEC increased documentary business limit for LLC «FC Grand Capital " which would permit to secure the company’s liabilities and increase its business volumes with the largest global pharmaceutical producers.
IBEC Bulgarian potential: new opportunities, new partners
IBEC Bulgarian potential: new opportunities, new partners
27.06.2019
A representative delegation of IBEC headed by the Chairman of the Board Denis Ivanov and a Member of the Board from Bulgaria Boyko Kotzev visited the capital of Bulgaria, Sofia, in mid-June.
Meeting at the Ministry of Finance of the Republic of Bulgaria
Meeting at the Ministry of Finance of the Republic of Bulgaria
19.06.2019
A substantive dialogue with the leaders of the economic bloc of the Bulgarian government continued in the Ministry of Finance of the Republic of Bulgaria. IBEC head, Denis Ivanov, informed the Minister, Mr. Vladislav Goranov, and the head of the Bulgarian delegation in the IBEC Council, Ms. Marinella Petrova, about the Bank’s transformation program and the positive dynamics of business indicators. The results of the May Council Meeting in Moscow, where the Council approved the new course of IBEC development, were also highlighted.
IBEC joined the Memorandum of national promotional banks and institutions and multilateral development banks
IBEC joined the Memorandum of national promotional banks and institutions and multilateral development banks
18.06.2019
The ceremony of International Bank for Economic Cooperation and four national development banks joining the Memorandum of Partnership between the national and international development institutions of the Balkan region, Central and Eastern Europe was held as a part of the International Economic Forum «Roads for Partnership», organized by the Bulgarian Development Bank in the Bulgarian capital Sofia. The head of the BBI, Stoyan Mavrodiev, announced the expansion of partnership between development institutions focused on mutual work in the region. The event was attended by representative delegation of IBEC, headed by the Chairman of the Board Denis Ivanov, who signed the document. The forum was devoted to the perspectives of Southern Europe development and integration of the region into the pan-European context. Among the participants were leaders of the largest European financial institutions, such as European Investment Banks, European Bank for Reconstruction and Development, representatives of the diplomatic corps, business and the expert community.
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