Conglomerate

A conglomerate may include various forms of businesses — from investment companies to a variety of special-purpose companies.

Regardless complexity of your business, it is essential to:

Contact your private banker to receive a solution
tailored exactly to your needs!

  • Overdraft instead of conversion

    Our commercial client pays to his suppliers in euros and sells goods for U.S. dollars.
    • Once, when it was time to pay to the supplier and our client had dollars on his account, he saw that the dollar against the euro was growing, so he decided that it was not profitable to buy euros at the moment, and it would be better to do it later.

      The client called us for advice. His private banker offered him to take an overdraft in euro secured by dollars the client had on his current account.

    • Thus the client would be able to pay in euro for the delivery immediately, and to convert later when paying off the overdraft.

      The client was correct in his forecast of currency rate change, and ultimately the cost of the overdraft was significantly lower than the rates difference that provided the client with an extra profit from the transaction.

    Sergei Deinekin

    Head of Private Banking Department West

  • The beginning of a good credit history

    Our client, working in the sphere of industrial and marine equipment wholesale, experienced an urgent need for funds to pay for delivery to his partners. The balance of his current account didn’t allow him to make a payment in the required amount, so the client turned to us for help.
    • At that time, the client opened an EXTRA savings account with the funds he didn’t plan to withdraw urgently. We offered him an overdraft secured with the money on his saving account, the client agreed and managed to make a payment to his partners.

    • Then the client paid off the overdraft ahead of the schedule, and as it turned out it was the first loan in his life. Thus, with our help, the client retained the image of a stable and reliable partner in the eyes of his partners and, in addition, earned a good credit history.

    Andrei Trofimov

    Head of Private Banking Department East