Trade Finance Programme of Rietumu Bank is Continuing
05-Sep-2018, 12:43 / Products & Services Rietumu Bank continues its international trade finance programme within the framework of an updated business strategy.
Customers of the bank may borrow funds for export and import operations with agricultural products, including grains, as well as metals, coal, oil and petroleum products and other traditional goods.
“Rietumu Bank has accumulated rich experience in this specific area, which requires serious expertise, well-established contacts and profound knowledge of different commodity markets. With regard to such operations, we have been and remain one of the leading banks in the region,” said the Head of Trading Finance Sergej Zaharov, also noting that the bank gladly accepts new projects for consideration, offering flexible conditions and considerable volumes of transactions, which are customer-tailored.
Rietumu Bank offers financing of trade operations in ports of the Baltic Sea, the Black Sea and the Azov Sea, including the financing of accumulation of commodities, financing of goods in transit, providing funds against shipping documents and other types of short-term crediting of trade transactions.
“In contrast to some other countries, where banks are confined to the crediting of local businesses only, we have historically built our service as an international and cross-European one,” emphasised Sergej Zaharov.
This spring Rietumu Bank corrected its business model in accordance with the latest requirements of the legislation and set the Euro as the base currency of operations. Now funds for trade finance are also provided by the bank in Euro.
The updated trade finance programme of Rietumu Bank will be presented at the Global Grain Geneva conference in Switzerland this November.
Apart from trade finance, Rietumu Bank also provides to its customers factoring services – financing of the goods supply transactions with a deferred payment.
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