On May 9th, 2013 EBRD announced LOCKO-Bank “Most Active Issuing Bank in Russian Federation in 2012.” The award was granted during the TFP Award Ceremony that was held in Istanbul, Turkey as part of the EBRD Annual Meeting and Business Forum 2013. This honorary award emphasizes LOCKO’s success in the development of its Trade Finance business despite the complicated market environment.
The TFP Issuing Bank Agreement was signed between LOCKO-Bank and the EBRD in September 2005. Since then the facility has been increased several times up to USD 105 million to support the constantly growing trade finance business of the Bank.
The EBRD is an international financial institution that supports projects in 29 countries from central Europe to central Asia and southern and eastern Mediterranean. Investing primarily in private sector clients whose needs cannot be fully met by the market, the Bank fosters transition towards open and democratic market economies.