OREANDA-NEWS. Sberbank CIB Announces Documentary Operations Results for 2013. The volume of documentary business exceeded the equivalent of USD 33 bln, at the same time documentary transactions within Russia demonstrated the strongest growth.

The volume of domestic LCs in 2013 reached a record RUB 100 bln, 2.5 times the corresponding figure for 2012. Stable growth of documentary operations confirms demand for the documentary business’s products and shows that Russian trade is moving towards civilized forms of payment.

Over the course of the year more than 1500 trade finance deals were implemented amounting to more than \\$10.5 bln, as a result the total value of the debt portfolio rose more than 30%, totaling USD 14 bln at the end of the year.

The largest share of the portfolio is made up of foreign trade operations financing for Sberbank’s clients. Notable deals include a USD 600 mln club deal provided by the largest banks in the Middle East, USD 500 mln raised as part of a partnership agreement with OCBC bank as well as a series of deals with leading Chinese financial institutions. The combined investments attracted over the course of the year amounted to USD 5.9 bln.

The positive dynamics seen in recent years continued with growing demand for classic trade finance products with documentary instruments for corporate clients. The number of clients embracing the advantages of post-import financing has steadily increased – clients include major, as well as large and small and medium sized businesses. Since 2009, the volume of import LCs with financing has increased more than 4 times, and amounts to 77% of the total volume of issued letters of credit.

The number of unsecured LCs within risk limits issued by Sberbank shows strong growth. Over the last two years the debt portfolio has increased more than three-fold, exceeding USD 1.3 bln at the end of 2013.

Moreover, cooperation in the area of trade finance services for financial institutions continued to expand.