Service Providers

Activities of service providers may be different: the sphere of transport, tourism, consulting, communication services and other industries.

To achieve business targets and ensure development, it is necessary 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

  • Overdraft for the successful development of business

    In spring of 2010 during the volcanic eruption in Iceland our client, the supplier of seafood products, got in trouble. Shortly before the eruption, he ordered a batch of seafood in Spain and made a prepayment
    • Due to the interruption of flights, perishable goods were not delivered on time. Not having received the goods, he could not supply them to his customer and get paid. Suppliers agreed to return the prepayment to our client, but it would take time. He did not have enough money to prepay purchase of other goods.

    • The client informed us about his problem and asked for advice. His private banker, having assessed the situation, gave him an overdraft. Thanks to funds provided, the client was able to order goods on time and within a week, when he got back the prepayment from his partners he could fully repay the overdraft.

    Andrei Trofimov

    Head of Private Banking Department East