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Special Report: CEE/CIS Trade Finance
March 31, 2017 www.intellinews.com I Page 22
finance in and around the country, it is creating more opportunities, even with sanctions still in place and a continuing need to reform economies.
“We see a slow pick-up of trade finance Ta- ble of winners by category in some countries such as Russia and Central Asia, however, this will depend very much on whether these coun- tries can introduce economic reforms,” Kau- tzky tells bne in a more recent interview, while exercising caution. “But even if those reforms are introduced, it will be a slow development; and for Russia we expect a flat development.” While Russia is still the biggest market in the German bank’s trade financing, “Central Asia also plays a very central role now,” he adds.
But despite the complex political and economic situation, Russia is certainly not twiddling its thumbs in the trade finance arena until things ease: In 2016, Sberbank Group, our 2017 Eurasia award winner, completed more than $31bn worth of trade finance and documentary business deals, an increase of 11% year-on-year.
Overall, growth in the volume of world trade in goods and services was very weak in the five years to 2016, with growth rates averaging at around
3% – less than half the rate during the preceding three decades. Growth in world trade barely kept pace with global GDP growth, and hit a post-crisis low of 2.7% in 2015.
Several factors appeared to be causing the poor volumes, according to the International Chamber of Commerce (ICC): low investment; rebalancing in China; a reversal in the development of global value chains; and changes in the balance between trade in goods and services. Lack of progress on the opening of global markets to trade – together with increased protectionist pressures – added to the unprecedented trade slowdown.
(To read more of this survey, go to www.bne.eu)
Table of winners by category
Best Overall
Central Europe
Eastern Europe
Eurasia
Southeast Europe
Export Finance Arranger Commodity Finance Bank Supply-chain Finance Bank Trade/Export Finance Law Firm Commodity Finance Law Firm Insurer
Insurance Broker
Export Credit Agency
Development Finance Institution Trade Finance Technology Solutions
Albania Armenia Azerbaijan Belarus Bulgaria Croatia Czechia Estonia Georgia Hungary
Iran Kazakhstan Kosovo Kyrgyzstan Latvia Lithuania Macedonia Moldova Mongolia Montenegro Poland Romania Russia
Serbia Slovakia Slovenia Tajikistan Turkey Turkmenistan Ukraine Uzbekistan
Commerzbank
Societe Generale RBI
Sberbank UniCredit Citigroup Societe Generale Citigroup
Baker & McKenzie Dentons
Euler Hermes
Willis Towers Watson SACE
Black Sea Trade Development Bank Misys
Tirana Bank AraratBank
PASHA Bank Belagroprombank Raiffeisen Bank Privredna Banka Zagreb Komercni Banka
SEB Pank
Bank of Georgia
OTP Bank
Bank Saderat
Kazkommertsbank
Raiffeisen Bank Bosna i Hercegovina Demir Kyrgyz International Bank Swedbank
Swedbank
Komercijalna Banka
Mobiasbanca
Khan Bank
Societe Generale Bank Montenegro mBank
BRD
Sberbank
Raiffeisen Bank
Tatra Banka
NLB ie Nova Ljubljanska Banka Bank Eskhata
Yapi Kredi
Rysgal Bank
Raiffeisen Bank Aval
Asaka Bank