Converse Bank included in the list of Confirming banks of the EBRD  TFP

ArmInfo. The European Bank for Reconstruction and Development (EBRD) included Converse Bank in the  list of confirming banks under the Trade Finance Program (TFP). As noted in the message of Converse Bank, the respective agreement was signed on November 14, 2024.

According to the Chief Financial Officer, Deputy CEO of Converse Bank  Hrant Hakobyan, the status of Confirming Bank is highly significant  in terms of stimulating trade financing in Armenia and the entire  region. "As a confirming bank for the EBRD TFP, Converse Bank will  leverage its expertise in trade finance and its extensive network of  international partners  to provide comprehensive financial solutions  to businesses engaged in cross- border trade. This partnership not  only highlights Converse Bank's commitment to supporting the growth  of businesses but also underscores its dedication to promoting  economic prosperity of the market," he noted.  Hakobyan added that  Converse Bank offers its customers comprehensive solutions in   international trade finance operations, ensuring maximum efficiency  of transaction structuring and financing alongside with covering  non-payment risks. Moreover, the Bank provides assistance and  guidance to its customers throughout the entire trade finance  transaction cycle, providing consultancy at the trade contract  negotiation's stage and deal structuring up to financing of the  project.

Let us recall that the first Armenian banks to be assigned the status  of Confirming Bank within the TFP program by the EBRD were Ameriabank  (May) and Araratbank (June) in 2013.