BTA Bank to partner with KEIC

Russia's BTA Bank has become the first financial institution in the CIS to sign a co-operation agreement with the state-owned Korea Export Insurance Corporation (KEIC).

The agreement is perceived as a significant development in economic relations between the two countries, and will enhance links between BTA and South Korean banks through co-operation in export-import operations and infrastructure construction.

"The cooperation agreement will facilitate an increase in trade flows, transactions and limits of South Korean banks for BTA and also an efficient implementation of projects of BTA clients with KEIC coverage. Clients will have competitive financing terms to service trade flows of businesses with Korean companies," comments CEO of BTA Bank Roman Solodchenko