Since the beginning of March Russian Agricultural Bank added to its foreign trade portfolio more than a hundred new contracts

25 March 2022

Russian Agricultural Bank (RusAg, the Bank) is expanding its portfolio in the sector of foreign economic activity (FEA) – only in March number of contracts increased by 100. The most popular areas of interaction for Russian clients are the Middle East countries (Egypt, UAE), Central and Southeast Asia (China, Kazakhstan, Uzbekistan, etc.).

RusAg works with clients from various sectors of the economy: agriculture, metallurgy, chemistry, wholesale trade and others.

It is possible to transfer a foreign trade service contract to RusAg quickly and free of charge. At the same time, the Bank provides comprehensive support to clients: from consultations to ensuring the continuity of payments and building an individual route for transferring funds. One can open settlement accounts in the Bank, use the currency control service and individual currency conversion. Thanks to a well-built correspondent network, clients can make payments in rubles and all major foreign currencies (Chinese Yuan, US dollars and Euros), and service their existing and new international contracts. At the same time, all FEA banking operations are available in the mobile application and the Internet Bank of RusAg.

“We quickly respond to changes, and are now actively developing the infrastructure for settlements in national currencies of the Middle East countries, Central and Southeast Asia. Our FEA team provides high quality and prompt service, helps to find out the payment status, and, if necessary, can even expedite its execution. Our task is to make the process of working with foreign trade contracts more comfortable and less labor intensive for the client,” said Dmitry Mushkov, First Deputy Director of the Financial Market Operations Support Department at RusAg.

Since the end of February, specialists on the FEA hotline of the Bank (8-800-200-78-70, VED@rshb.ru) have provided more than 1,000 consultations. Most often, clients addressed issues of international payments, changes in currency legislation, and specifics of currency exchange transactions. A large amount of consultations were on the possibilities of reducing commercial and financial risks in trade contracts and options for applying state export support. For this purpose, RusAg, among other things, offers the possibility of using letters of credit forms of settlements and guarantees.