OREANDA-NEWS. March 06, 2013. Sberbank is planning on increasing its share of trade financing, within the overall volume of Russia's foreign trade to 15%, as announced by Andrey Ivanov, Head of Trade Finance and FI at Sberbank.

The total volume of Sberbank’s trade finance and documentary services amounted to over RUR1.1 trln in 2012.

Sberbank aims to achieve its trade finance targets by 2015, helping it to reach a leading global position in the market, by expanding the Bank’s global chain and by integrating comprehensive product offering to customers. This will help increase Sberbank’s share in servicing the Russian commodity turnover, the size of which is currently estimated at over USD837 bln. 

The speaker noted the financing of product supply chains, financing guaranteed by EKSAR (Export Credit Agency of Russia), aviation industry financing, including that guaranteed by ECA (Export Credit Agency) amongst the new directions of financing.

“In developing its trade finance framework, Sberbank has two main goals: maximizing its servicing of commodity flows between our countries of operation, and between our main partners”,- Andrey Ivanov commented.

Global Trade Review magazine named Sberbank the best bank in terms of trade finance in Russia and CIS in 2012. The bank’s trade finance portfolio exceeds \\$10.5 bln, having increased by more than 50%, compared to 2011. In 2012 Sberbank conducted over 1300 deals for a total amount exceeding USD 8 bln.

The volume of conducted deals either guaranteed by or with direct financing by ECA as of the end of 2012 exceeded USD 1 bln.

In 2012 Sberbank signed Memorandums of mutual understanding with ECA’s including US Ex-Im Bank (USA), Turk Eximbank (Turkey), Eximbanka SR (Slovak Republic) and EGAP (Czech Republic).

The bank has conducted deals, unprecedented in the market – the attraction of direct credits from EDC export crediting agencies in Canada for a total of \\$275 mln and OeKB in Austria for a total of USD 100 mln.