Belarusbank establishes correspondent relations with more than 900 banks from 84 countries

The correspondent network of JSSB Belarusbank is one of the most multi-branch networks among Belarusian banks enabling the bank to promptly and effectively carry out customer foreign economic contract settlements.

As of the beginning of this year Belarusbank had correspondent relations with more than 900 banks from 84 countries, maintained 56 nostro accounts and 89 loro accounts.

The international settlements volume grew in 2006 by 50% compared to 2005 and constituted USD 8.5 bn.

Foreign trade contracts implementation employed primarily trade finance settlements. The volume of funds attracted in terms of trade financing on documentary letters of credit made up USD 311.2 mln. (equivalent of USD 108 mln. as of 01.01.2006).

The volumes of credit lines for trade finance on unsecured basis provided by foreign banks grew three times and constituted almost USD 500 mln. In 2005 Belarusbank cooperated with 33 foreign banks whereas today 58 banks are among the partners of the bank.

In 2006 trade finance volumes exceeded USD 1 bn., that is twice as many as in 2005.

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