IIB expands product line

August 16, 2019

International Investment Bank (IIB) continues to expand trade finance product line and for the first time since the launch of IIB Trade Finance Support Program (TFSP) in 2014 added its confirmation to the documentary letter of credit in August 2019. During the five years (2014-2019) of the TFSP development, IIB acted mainly as an intermediary bank, covering credit risks of issuing banks-partners of the Program by issuing guarantees, standby letters of credit and irrevocable reimbursement… Read more

IIB develops trade finance operations with non-member states

August 8, 2019

International Investment Bank (IIB) continues to develop trade finance operations between the Bank’s member states and other countries. In early August, with the participation of the Belorussian Bank JSC “Bank Dabrabyt” and the Russian PJSC “Credit Bank of Moscow”, IIB implemented a pilot transaction in support of deliveries of perfumes and cosmetics from the Russian Federation to the Republic of Belarus. Bank Dabrabyt joined the IIB Trade Finance Support Program (TFSP) as an issuing bank,… Read more

IIB publishes financial results for the first half of 2019

August 2, 2019

International Investment Bank (IIB) published financial statements in accordance with IFRS for the first half of 2019. Data shows positive dynamics of all key indicators of activity, including assets, loan portfolio and capital. Reports were reviewed by auditors – EY Hungary. Financial Result The Bank concluded the reporting period with a profit of 2,87 mln euros as a result of net interest and fee income increase, improved quality of the loan portfolio with a sufficient level of reserves… Read more

IIB Chairperson attends the riverbed overlap ceremony during construction of Bely Porog hydro power plants

July 31, 2019

International Investment Bank’s Chairperson of the Management Board Nikolay Kosov took part in the ceremony of overlap of Kem riverbed related to the construction of Bely Porog hydro power plants. Riverbed overlap is considered a procedure that gives start to new power plants, which will begin its full-scale operations in the first quarter of 2020 already. A long-term loan in the aggregate amount of 8,15 billion rubles (over 155 mln euros) for the implementation of this strategic renewable… Read more

Organization for Economic Cooperation and Development (OECD) has included IIB in the list of international institutions eligible for acceptance of the Official Development Assistance (ODA)

July 26, 2019

Following the joint application submitted to OECD by Hungary and the Slovak Republic, the Development Assistance Committee (DAC) decided to include International Investment Bank in the Official Development Assistance (ODA) program. The Development Assistance Committee is a unique international platform of the largest providers of economic aid promoting inclusive and sustainable growth in developing countries. IIB has been included in the list of international organizations, through which such… Read more

News