VTB ups Sino-Russian trade and export business

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VTB Bank has announced growth in its trade and export finance lending with China. In 2015, VTB, in cooperation with Chinese banks, arranged Sino-Russian trade finance transactions totalling RUB160 billion ($2.4 billion-plus) – more than half its RUB250 billion total trade and export finance volume for the year.

Last year the bank also signed a $2 billion agreement with Sinosure to facilitate Sinosure-covered trades and has widened its partnership with Russia’s export credit agency (EXIAR) to cover China-related trade.