Citibank Europe plc has established a trade finance limit for Belarusbank. The funds will be used to finance foreign trade contracts of the bank’s corporate clients (Belarusian importers). The limit was established after a due diligence procedure, as well as a number of other positive developments that the bank has seen since the beginning of 2018.
Those include the upgrading of the bank’s credit ratings (Fitch: “B”, Standard and Poor’s: “B”) and the transfer of the Republic of Belarus to the 6th risk group within the OECD classification. Belarusbank’s stable financial performance and flawless payment discipline also contributed to the establishment of the limit by the foreign counterpart.
For reference: Citibank Europe plc is a subsidiary of Citigroup Inc, one of the leading international banks that is present in over 160 countries and jurisdictions and maintains around 200 million client accounts. Citi provides a wide range of services to retail and corporate customers, governments and institutions, including retail services and lending, corporate and investment banking, brokerage services, transaction services and capital management.
Belarusbank Communications Division