OREANDA-NEWS  On 12 December Raiffeisen Bank Aval announced that it successfully executed its first transaction as a Confirming Bank under the IFC Global Trade Finance Program (GTFP). The GTFP supports trade with emerging markets worldwide and promotes the flow of goods and services to and from developing countries.

Raiffeisen Bank Aval also participates as an Issuing Bank with GTFP, under which a USD 30 million limit has been established. In total, the Bank currently has approximately USDUSD 100 million in limits as an Issuing Bank in trade facilitation programs of various multilateral organizations including the IFC.

"Raiffeisen Bank Aval is actively planning to co-operate with international financial institutions in this sphere," according to Vitaliy Kyslenko, Director of Public Sector and Trade Finance at Raiffeisen Bank Aval. "We are very proud of our work with the IFC GTFP and look forward to expanding this relationship in the future".

Raiffeisen Bank Aval, founded in March 1992 (before 25 September 2006 — JSPPB Aval), is one of the largest Ukrainian banks and takes leading positions at Ukraine’s banking market in terms of a number of core financial results. As of October 1, 2008, the Bank’s net assets were UAH 52.56 billion, the loan portfolio amounted to UAH 42.66 billion (all figures are according to the local accountant standards).

Raiffeisen Bank Aval is a subsidiary of Raiffeisen International Bank-Holding AG, that operates one of the largest banking networks in CEE. 17 markets of Europe's growth region are covered by subsidiary banks, finance leasing companies and a number of other financial service providers of Raiffeisen Group. Over 14 million customers are served in over 3,100 Raiffeisen business outlets.