OREANDA-NEWS. March 14, 2008. Another step in Sviaz-Banks' International Business development was establishing of correspondent relationship with one of the leading American banks - JP Morgan Chase Bank. This evidence high level of banks' transparency and admits Sviaz-Bank as honorable player on the international financial market owing to effective implementation of development strategy, adopted in 2004.

Expanding number of counterparties on the international markets is one of strategic objectives of Sviaz-Banks' International Business Program. In 2007 Sviaz-Bank established correspondent relations with more than 60 foreign financial institutions in the field of trade finance, money market and settlements. At present number of Sviaz-Banks' counterparties on the international market exceeds 130 financial institutions, volume of credit lines opened in favor of Sviaz-Bank exceeds USD 500 mln.