Trade Finance

International trade is a dynamic sector requiring from its participants not only prompt and yet deliberate decision-making but also free funds allowing you to benefit from good opportunities.

Expecting payments for delivered goods or purchasing a new consignment may lead to working capital deficiency, which slows down sales processes and prevents your business from expanding or developing.

Our private bankers and commodity trade finance specialists are always ready to explore your specific requirements and provide customized short-term credit solutions to finance your international trading activity.

Our main commodity trade finance team is based in Riga with a special advisor available in Geneva and a network of representative offices located in CIS countries and Hong Kong.

  • Financing of Documentary Operations

    You deserve consistent development of your business. We propose you to finance documentary operations for increasing your working capital.

    Advantages

    • no need to freeze company’s assets for performing a transaction,
    • quick review of application and time-saving procedure of receiving financing,
    • mitigation of risk of non-complying goods’ delivery,
    • use of settlement advantages associated with letters of credit,
    • increasing company’s competitiveness.

    Our offer

    • import letter of credit financing,
    • export letter of credit financing,
    • back-to-back letter of credit,
    • financing of deferred payments under export letter of credit.
  • Documentary Operations

  • Additional Information for Customers

    Use your Internetbank ID and password to access customer information.

  • Investigating incoming payment

    Our client sent us a credit note for the incoming payment – as a guarantee for taking an overdraft to pay for purchased goods. However, in the first half of the day the money stated in the document didn’t come to the bank. So the client got concerned about the situation.
    • According to a credit note the funds passed through the chain of correspondent banks. We could able see that funds only on our correspondent account, and we didn’t find them there. We immediately began to investigate the situation: our Payment Investigation Department made a request for investigation of the payment to the correspondent bank of the sender, and got explanation that the amount had came with incorrect details.

    • Due to the effective work of all participants of the process, the amount under investigation entered our correspondent account in the same business day, the client was immediately granted an overdraft, and its outgoing payments posted on time.

      The client was pleasantly surprised by our efficiency, because, as he said, the similar process with another bank would have taken few days. 

    Mark Mizgayev

    Head of Private Banking Department Center I

  • 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