Sign master trade financing agreement.
Russia’s VTB Bank has signed a cooperation agreement and master trade financing agreement with Singapore's Oversea-Chinese Banking Corporation Ltd.
Under the cooperation agreement, VTB and OCBC will develop a partnership on the interbank market, specifically in investment, trade financing and settlements in national currencies, and on capital markets.
As part of the master trade financing agreement, the banks have created the infrastructure to finance trade transactions, particularly for their corporate clients.
The signing of these agreements highlights VTB’s intention to boost its business in Asia while helping promote trade and economic relations between Russia and Singapore.
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