Russia’s VTB and the state Export-Import Bank of Ukraine (Ukreximbank) have signed an interbank cooperation agreement to strengthen the existing partnership between the institutions.
The banks have agreed to cooperate in joint transactions in the Russian, Ukrainian and international finance markets, as well as agreeing to work together in settlement transactions, including those in Russian roubles and Ukrainian hryvnia.
“VTB Group is interested in expanding cooperation with Ukrainian banks in rouble settlements, treasury transactions and investment services. This will encourage improvement of [the] investment climate in Ukraine and development of long-term lending,” remarks Andrei Kostin, president and chairman of VTB’s management board, who signed the agreement document.
He adds: “Usage of the rouble for foreign economic contracts strengthens its role as the main settlement currency in the CIS.”
Last Updated May 18, 2010
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