Credit Agricole at the top three leaders of trade finance for 5 months 2020

Credit Agricole Bank became one of the three leaders of Ukrainian trade finance market with a portfolio of off-balance sheet transactions amounting to almost UAH 4 billion as at the beginning of June 2020. Its core comprises of guarantees, letters of credit and avalized promissory notes.

Over five months 2020, the portfolio of trade finance increased by UAH 1.6 billion. Despite the lockdown, the dynamics of new transactions has even improved YoY. Almost a half of all transactions is represented by seasonal transactions of promissory notes avalization.  

The dynamic start of the year ensured leading positions in the banking market for Credit Agricole despite the decrease in customer activity in March-April. Thus, the overall volume of trade finance in the Ukrainian banking system increased only by 10% year to date, while normal seasonal increase exceeds 20-25%. Such a gap is a result of slow-down in the global economic activity due to pandemic and confinement measures.

“Trade finance is a type of business that provides for significant document flow and therefore, remote work mode became a true challenge for our team: we had to adapt all processes to keep continuous and aligned operations at the same high level as in the office. As a result, we have plus one successful experience in our achievements!  Front-office and back-office teams organized the transition to new work methods without any losses: we continued negotiating with clients and international counterparties and performed all arrangements and transactions”, Oksana Maksymenko, Head of Trade Finance line of Credit Agricole, comments. 

Credit Agricole is also at the top three leaders of trade finance market thanks to the fact that our customers represent all business segments: multinational, Ukrainian large, medium-size and small enterprises. This is a result of consistent efforts of the bank’s team for these products sale development.  

“Being a part of the international Group, we see our advantages in stability of market positions of the bank, and in our ability to maintain international transactions with many countries. Our trade finance portfolio comprises of customers from various industries: agribusiness, pharmaceutics, vehicle business, retail trade, etc. They know that they can always rely on Credit Agricole”, Vladislav Berezhnyi, Head of Trade and Structured Finance Department of Credit Agricole Bank. 

You can refer to trade finance terms here.

About Credit Agricole: 

JSC “Credit Agricole Bank” is a modern universal bank owned by the leading financial group in Europe – Credit Agricole Group (France). The Group is a major partner of the French economy and one of the largest banking groups in Europe. It is a leading retail bank in Europe, having the largest portfolio of assets under management, being first in the field of ban insurance and third - in project financing in Europe. Credit Agricole has been operating in the financial market of Ukraine since 1993 and renders the entire range of banking services to private individuals, including premium-clients, and business. The bank pays special attention to cooperation with agricultural enterprises. Reliability and business reputation of Credit Agricole in Ukraine is confirmed by the highest possible FITCH ratings, leading positions in bank sustainability, bank deposit reliability and bank profitability rankings, as well as by 280 000 active private and 17 000 corporate customers, including international corporations, large Ukrainian companies and representatives of small and medium business. Credit Agricole Bank is a socially responsible bank that confirms its status by the large number of projects implemented under the Corporate Social Responsibility Program “We Care!”. 

Contacts:

Viktoriia Torianyk, Head of PR and internal communications division of Credit Agricole Bank.

E-mail: Viktoriia.TORIANYK@credit-agricole.ua