Rosbank trade finance portfolio increased by 47% in 2014
At the end of 2014, Rosbank documentary business (trade finance) portfolio made 73 bn roubles, showing 47% growth over 2013. Last year, the bank successfully performed over 3600 new deals and added 50 new names to its trade finance client base that reached some 250 corporate clients at the beginning of 2015.
In the middle of 2014, Rosbank started to promote trade finance services in the regions that resulted in 50% growth of the relevant network portfolio. By now, seven regional TF teams are established in the key branches, employing 14 professionals for sale and support of documentary products. The involvement of product managers into client sales with particular focus on the requirements of different customer groups provides for meeting the set targets.
"Rosbank continues to be one of the leaders of domestic market for documentary business and trade finance services among private Russian banks in terms of portfolio size. For the previous year the volume of documentary deals significantly grew, contributed by both large corporate clients, including multinationals, and mid-cap companies. We expect 25% year-on-year portfolio growth at the end of 2015. In line with Rosbank Strategic initiative for corporate banking, adopted in June 2014, we pay special attention to expansion of cross border business to fully employ Rosbank advantages as a part of Societe Generale Group, as well as trade finance business development in the regions. Those directions we consider a priority", says Marianna Kuzanova, GTB Deputy Director, Head of Trade finance.