On April 11th, 2019, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Nguyen Thi Hong had a meeting with Mr. Igor G. Souvorov – President of Interstate Bank.
At the meeting, Mr. Igor G. Souvorov shared that Interstate Bank, which is an international financial institution and an international payment bank, was established on December 22nd, 1993 and owned by former member states of the Soviet Union (in which the Russian Federation holds 50% of shares and relatively dominant operations of the bank). Interstate Bank’s main business activity is providing financial services to the Commonwealth of Independent States (CIS), providing financial services and conducting trade financing for businesses and organizations within the CIS and the Eurasian Economic Union (EAEU).
SBV Deputy Governor Nguyen Thi Hong and Mr. Igor G. Souvorov - President of Interstate Bank (in the middle)
The mandate of Interstate Bank is to promote the process of connecting and developing the member states’ economies through cooperation mechanisms such as: Cross-border payment in the local currencies, providing trade financing services in the local currencies, financing and implementing cross-border projects. Interstate Bank is currently a member and has direct connections to the payment systems of 6 out of 9 member states. At the same time, Interstate Bank acts as an international payment bank to the members which are the Central Banks, credit institutions and financial institutions from the member states.
Mr. Igor G. Souvorov expressed and exchanged Interstate Bank’s orientations for cooperation with Vietnamese credit institutions to promote and support the economic cooperation between Vietnam and Interstate Bank member countries, including the expansion of agency relations with Vietnamese credit institutions.
Deputy Governor Nguyen Thi Hong welcomed Mr. Igor G. Souvorov and the delegation of Interstate Bank to visit and work with the SBV. The SBV Deputy Governor also thanked the President of Interstate Bank for his interest in developing the relations between Vietnam and Interstate Bank member countries in the banking sector.
Deputy Governor Nguyen Thi Hong said, the close relationship between Vietnam and CIS member states is a good ground for strengthening the economic, trade and investment cooperation ties between Vietnam and the member countries in the EAEU, promising new opportunities and prospects.
According to the Deputy Governor, the SBV always supports and creates favorable conditions, provide timely and appropriate support for the expansion of cooperation with international monetary and financial institutions in general. The SBV also encourages Vietnamese credit institutions to strengthen cooperation and expand relations with international partners with diversified fields of operations and large customer networks such as Interstate Bank, thereby promoting trade and economic cooperation between Vietnam and the CIS member states, which are also members of Interstate Bank.
VA