IBA’s Moscow branch gets $15m syndicated loan
IBA-Moscow, a subsidiary of the International Bank of Azerbaijan
(IBA), has drawn a $15 million syndicated loan from the world’s
leading financial institutions to finance trade transactions.
The allocation was arranged by Rosemount Global Trade Finance Fund, VTB Bank AG, Vienna and France-based VTB Bank SA, according to IBA-Moscow.
Co-signing a respective agreement were Banque de Commerce et de Placements, Commercial Bank of India LL, Moscow, UK-based FBN Bank, and Credit Europe Bank N.V.
Remarkably, IBA-Moscow managed to receive the loan amidst instability in the world financial markets, which indicates that the bank is properly meeting its commitments on syndicated loans in the most challenging conditions and proves a high level of confidence on the part of Western lenders.
Thoughout seven years of its operation in Russia, IBA-Moscow has received a slew of hefty loans from foreign banks. The amount attracted by the bank in overseas markets since 2005 has exceeded $130 million.
The previous syndicated loan attracted in 2008, worth $55 million, was successfully repaid this year.
IBA was established in 1992 as a successor of the Azerbaijan branch of the Foreign Economy Bank. IBA has a well-developed branch network and provides banking services to large corporate clients and, to a lesser extent, to individuals.*
The allocation was arranged by Rosemount Global Trade Finance Fund, VTB Bank AG, Vienna and France-based VTB Bank SA, according to IBA-Moscow.
Co-signing a respective agreement were Banque de Commerce et de Placements, Commercial Bank of India LL, Moscow, UK-based FBN Bank, and Credit Europe Bank N.V.
Remarkably, IBA-Moscow managed to receive the loan amidst instability in the world financial markets, which indicates that the bank is properly meeting its commitments on syndicated loans in the most challenging conditions and proves a high level of confidence on the part of Western lenders.
Thoughout seven years of its operation in Russia, IBA-Moscow has received a slew of hefty loans from foreign banks. The amount attracted by the bank in overseas markets since 2005 has exceeded $130 million.
The previous syndicated loan attracted in 2008, worth $55 million, was successfully repaid this year.
IBA was established in 1992 as a successor of the Azerbaijan branch of the Foreign Economy Bank. IBA has a well-developed branch network and provides banking services to large corporate clients and, to a lesser extent, to individuals.*
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