Current issue of the "Banking" magazine contains an interview with Igor Suvorov, President of the Interstate Bank
The representatives of the Interstate Bank took part in the XVII International banking forum "Russian Banks - XXI century" which was conducted by the Association "Russia" in Sochi.
On September 12, 2019 the 41st meeting of the Eurasian Council of the Central (National) Banks took place in the Kyrgyz Republic.
The meeting was attended by representatives of the central (national) banks of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and the Interstate Bank.
Fitch Upgrades Interstate Bank to 'BB+'; Outlook Stable
On September 3rd, 2019 Fitch Ratings has upgraded Interstate Bank's Long-Term Issuer Default Rating (IDR) to 'BB+' from 'BB'. The Outlook is Stable.
Fitch rates the Interstate Bank as a supranational administrative body, given its unique business model as a multilateral settlement institution operating in the Commonwealth of Independent States (CIS) and Eurasian Economic Union (EAEU).
Fitch notes that in the 1st half of 2019, the Bank's Council approved a strategy for the bank through 2023, which envisages greater participation in integration projects and collaboration with central banks. The Bank's usage and promotion of national currencies is increasingly relevant in the context of US sanctions against some Russian financial institutions and de-dollarisation efforts by States Parties.
During the business visit to the Republic of Kazakhstan, the Interstate Bank delegation held meetings with representatives of commercial banks.
I.Souvorov, the President of the Interstate Bank, met with Mr. E. Dossaev, the Governor of the National Bank of Kazakhstan.
Mr. Souvorov and Mr. E. Dossaev discussed the issues of cooperation between the Interstate Bank and the National Bank of Kazakhstan.
I.Souvorov, the President of the Interstate Bank, met with Mr. A. Javadyan, the Governor of the Central Bank of the Republic of Armenia and the Chairman of the Council of the Interstate Bank.
PHOTO: In the Central Bank of the Republic of Armenia
Mr. Souvorov and Mr. Javadyan discussed the issues of cooperation between the Interstate Bank and the Central Bank of Armenia.
The Interstate Bank welcomes the idea of developing the system of bank guarantees for state (municipal) procurement within the EAEU. The involvement of international organizations will promote the development of the state procurement system in the EAEU countries. It will stimulate the overall mutual trade and settlements in national currencies.
The Interstate Bank positively evaluates the possibility of its involvement in the providing of relevant bank guarantees. The procedure for issuing bank guarantees will be discussed substantively with companies from the EAEU countries that are interested in obtaining such guarantees.
The Eurasian Economic Commission and the Interstate Bank jointly published the book “The System of Integration Indicators as tool for analyzing the functioning of Regional Unions”.
I.Souvorov, the President of the Interstate Bank, met with Mr. J. Nurmahmadzoda, the Chairman of the National Bank of Tajikistan.
One of the key matters discussed by meeting had deepening of cooperation between the Interstate Bank and the National Bank of Tajikistan.
On August 13-15, 2019, during a business visit to the Republic of Tajikistan, the Interstate Bank delegation held meetings with the heads of the leading financial institutions of this country.
I. Souvorov, the President of the Interstate Bank, met with Mr. S.S. Ikromi, Chairman of the Board of the State Savings Bank of the Republic of Tajikistan «Amonatbonk».
Also held meetings with Mr. H.I. Atavulloev, Member of the Supervisory Board of «Orienbank» and Mr. N. Samandarzoda, t.a.Chairman of the Management Board of Spitamen Bank.
The Interstate Bank, as a member of the payment system of the National Bank of Tajikistan, updated its payment system software according to the specification of the National Bank of Tajikistan
The Interstate Bank publishes on its website interim condensed financial statements for the six months of 2019 prepared in accordance with the International Financial Reporting Standards (IFRS), with the independent auditor’s report on review of these statements.
On August 2nd, 2019 the fifth meeting of Expert Council on national currencies took place in the Bank of Russia.
Interstate Bank’s 2018 annual report participates in the 22nd Annual Contest of Annual Reports. It is organized by Moscow Exchange and RCB Media Group and is the main platform for the presentation of annual reports and one of Russia’s most important IR events of the year. The jury consists of representatives of large investment funds, leading financial analysts, corporate management and communications specialists, journalists, delegates of professional organizations.
The results will be summarized in November 2019.
To the Interstate Bank business partners: the office phone of the Representative office of the Interstate Bank in the Kyrgyz Republic has changed to +996 (312) 97-50-61 & +996 (312) 97-50-71
I. Souvorov, the President of the Interstate Bank, met with Mr. T. Abdygulov, the Chairman of the National Bank of the Kyrgyz Republic.
One of the key matters discussed by meeting had deepening of cooperation between the Interstate Bank and the National Bank of the Kyrgyz Republic.
More details on the website of the National Bank of the Kyrgyz Republic
On June 18-19, 2019 Interstate Bank’s representatives took part in a seminar on the topic «Financial Technology Overview and Digital Financial Infrastructure» on the professional training of employees of the central (national) EAEU banks that was held at the Tula-based Interregional Training Center of the Bank of Russia.
The representatives of the Interstate Bank took part in the Russian-Mongolian round table on the development of interbank and bilateral cooperation, organized by the Bank of Russia
May 29, 2019 marks the fifth anniversary of the signing of the Treaty on the EAEU. The presidents of Russia, Belarus and Kazakhstan signed the Treaty on establishing the Eurasian Economic Union on May 29, 2014.
The main results are posted on the website of the Euroasian Economic Commission.
The Interstate Bank delegation took part in the 11th meeting of the Russian-Turkmen Intergovernmental Commission for Economic Cooperation, which was held in Ashgabat (Turkmenistan) on May 7 in 2019.
At the meeting, joint projects and prospects for cooperation in production sector, building activity, transport, oil and gas, gas chemical, electric power industries and culture were considered. The topic of cooperation between the relevant ministries and departments of the two countries and the process of implementing trade operations were also touched upon.
The delegation of Interstate Bank also took part in the Interbank consultations with representatives of the Central Bank of Turkmenistan and the State Bank For Foreign Economic Affairs of Turkmenistan with the aim of developing long-term partnerships.
For reference. Turkmenistan is one of the member states of Interstate Bank.
Analytics on the results of the meetings of the Eurasian Council of the Central (National) Banks are posted on the Information web-site of the Interstate Bank
The Annual report of the Interstate Bank for 2018 was published on the official web site of the Bank.
On April, 22, 2019, the representatives of the Interstate Bank participated in the expert and coordinator meeting of the Interbank Association of the Shanghai Cooperation Organization in Bishkek.
On April 17, 2019 the 40th meeting of the Eurasian Council of the Central (National) Banks took place in the Republic of Belarus.
The meeting was attended by representatives of the central (national) banks of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and the Interstate Bank.
During the meeting the parties discussed steps being taken for the purpose of de-dollarization of economy and promotion of payments in national currencies, familiarized themselves with the results of work and banking sector development outlook, as well as with the current situation and development trends in the currency markets of the above-mentioned states.
The Interstate Bank performs functions of the Council’s Secretariat.
On April 8-11, 2019, during a business trip to Singapore and Vietnam, the Interstate Bank delegation held meetings with the heads of the leading financial institutions of these countries.
I. Souvorov, the President of the Interstate Bank, met with Mr. Peter Seah Lim Huat, the Chairman of the Board of Directors from the largest state bank in Singapore – DBS Bank.
The meeting was also attended by Mr. Liang Eng Hwa, the Managing Director&Head of Institutional Investors Treasury&Markets, and Mrs. Sarah Chompaisal, the Executive Director Institutional Investors Financial Institutions of DBS Bank. The meeting was devoted to the development of cooperation regarding trade settlements with the use of national currencies within the establishing free trade zone between the EAEU and the Republic of Singapore.
In Hanoi, Vietnam, I. Souvorov, the President of the Interstate Bank held a meeting with Mrs. Nguyen Thi Hong, the Deputy Governor of the State Bank of Vietnam. They discussed, in particular, the prospects of trade growth and the opportunities of using national currencies in the trade settlements with regard to the accession of the Socialist Republic of Vietnam into the free trade zone with the EAEU.
During the visit to the South-East region the delegation also held significant meetings with:
- Mr. Edward Wong, the Managing Director of OCBC Bank in Singapore which is one of the oldest banks in Singapore and the second largest financial group in South-East Asia;
- Mr. Chow Mei Yin, the Vice President of the Singapore representative office of Bank of China. The Singapore Branch of Bank of Chine was founded in 1936; it has a full banking license and provides customers with a full range of banking services;
- Mr. Yap Tat Ming, the Regional Banking Vice President in the Singapore branch of Taipei Fubon Bank;
- Mr. Nquyen Ngoc Quang, the Deputy Director of the financial institutions group of Vietcombank, one of the largest banks in Vietnam in terms of market capitalization;
- Mr. S. Chumakovskiy, the Chairman of Board of Members of Vietnam-Russia Joint Venture Bank, Mr. L. Trifonov, the First Deputy General Director, and Mr. S. Ivanov, the Deputy General Director;
- Mrs. Nquyen Thi Huong, the Head of Financial Institutions&Transaction Banking Center of Sai Gon-Ha Noi Commercial Joint Stock Bank, one of Vietnam’s leading commercial banks, and Mrs. Nhuyen Thi Huong Giang, the Head of Foreign Financial Institutions Department;
- Mrs. Do Diem Hong, the Executive Vice President of Techcombank which is one of the largest banks in Vietnam in terms of total assets, loans, deposits and net profit.
The main tracks of negotiations were the discussion on the facilitation of bilateral trade and economic relations between the countries, the simplification of international settlements between them, the assistance in the implementation of joint projects with the participation of Russian capital, as well as the promotion of expansion of business and banking relations and raising awareness of the countries’ business community on available banking services and products.
On April 5, a meeting of the Council of the Interstate Bank was held in Moscow
On April 3rd, 2019 the Interstate Bank became a member of the currency market of the Armenia Securities Exchange (AMX). The Interstate Bank has been assigned a trade code ISBNK.
The Interstate Bank expresses its gratitude to the management of the Armenia Securities Exchange and hopes for development of mutually beneficial cooperation.
Reference: The Interstate Bank is also a member of the FX sections of the Belarusian Currency and Stock Exchange, the Kazakhstan Stock Exchange and the Moscow Exchange.
Interstate Bank reports changes in the Standard Settlement Instructions (SSI).
Changes take effect from April 1, 2019.
At the CIS international financial and banking forum in Tashkent, the President of Interstate Bank I. Souvorov told about the history and activities of Interstate Bank. It celebrated 26 years in 2019.
I. Souvorov noted that Interstate Bank has passed a long way from a clearing platform for multilateral settlements of the CIS countries to a modern integration Institute. He reminded that the principles of functioning of the European payment Union were taken into account in the preparation of the constituent instruments of Interstate Bank. Interstate Bank consistently pursues a policy of promoting services in national currencies.
More information available at
Source of photo: CIS executive committee
On March 15, 2019 The President of the Interstate Bank I. Souvorov, took part in the International Economic Forum “CIS: Digital Economics – Integration Platfom”. Also I.Souvorov participated in the session of the CIS Economic Council.
In his speech presented on the plenary meeting of the Forum I.Souvorov reviewed the current state and potential of settlements in CIS national currencies.
On March 13, 2019 The president of Interstate bank, I. Souvorov, took a part in the session “Eurasian Economic Union – a modern paradigm of common market development”, Russian Business Week. He reported about the ways of the EAEU payment sphere enhancement
On March 12, 2019, the representatives of the Interstate Bank took part in the meeting of the Subcommission on Interbank Cooperation between the Russian Federation and the Republic of Uzbekistan.
During the meeting in the Bank of Russia the President of the Interstate Bank I. Souvorov noted the importance of cooperation between the Interstate Bank and the Republic of Uzbekistan.
Sources: Bank of Russia
The card of Interstate Bank is created on the Disclosure of Corporate information Center “Interfax” website. The procedure of publishing the annual reports, quarterly reports and other documentation has started.
For more details visit
To the Interstate Bank business partners: the address of the Representative office of the Interstate Bank in the Kyrgyz Republic has changed to 125/1, Toktogula Str., 3rd floor, Avangard Business Center, Bishkek, 720001
Financial University celebrated 100th anniversary!
The solemn ceremony of the 100th anniversary of the Financial University under the Government of the Russian Federation was held at The State Kremlin Palace on March 1, 2019. Graduates of the University, graduate students and teachers, well-known statesman and public figures, politicians, as well as influential financiers of Russia attended the ceremony.
Russian President Vladimir Putin and Prime Minister Dmitry Medvedev congratulated the Financial University on its anniversary. First Deputy Prime Minister Anton Siluanov and Deputy Prime Minister Tatyana Golikova, who were present at the event, read the solemn congratulations of the first persons of the State.
Leaders of the Interstate bank were honored guests of the Financial University on this solemn day.
The President of Interstate Bank I. Souvorov will take part in the annual meeting with the representatives of banking and financial service organizations of the UK and other countries of the world. The meeting will be held on 27th February 2019 in London (Great Britain).
The purpose of these annual meetings among like-minded professionals from all facets of the international financial services community is the discussion of problems and initiatives having a positive effect on the banking profession and the provision of financial services.
The meeting is organized by the Worshipful Company of International Bankers (WCIB), which has been having the status of Livery Company since 2004. In addition, the Company successfully petitioned for Royal Charter which was granted in 2007. The company currently has over 500 members, drawn from over 250 companies or institutions and with 43 nationalities represented. Many are senior bankers but membership includes a number of finance students.
The meeting will be held in the presence of Lord Mayor, Lady Mayoress, Sheriffs of the City of London and other honored guests.
The guest speaker will be Bob Wigley, Chairman of UK Finance, which unites about 300 UK companies providing credit, banking, market and payment services.
The Interstate Bank congratulates Mr. I. Souvorov the President of the Interstate Bank on his birthday!
The delegation of Interstate Bank visited the Republic of Belarus on a working visit. The representatives of Interstate Bank have negotiated with the representatives of Belarusian banks on opening accounts and settlements in national currencies in order to expand the correspondent network
The international scientific-practical seminar organized by the Center for Advanced Financial Planning, Macroeconomic Analysis and Finance Statistics was held at Financial Research Institute of the Ministry of Finance of the Russian Federation (FRI) on February 8, 2019. The seminar addressed the problems associated with the use of the dollar and the euro in the calculations as well as with the practice of the European Payment Union and the use of national currencies on the territory of the EAEU.
The moderator of the round table was K. Shvandar, the Head of the Center for Advanced Financial Planning, Macroeconomic Analysis and Finance Statistics at FRI.
More details on www.nifi.ru
President of Interstate Bank I. Souvorov noted the high urgency of the topics discussed at the meeting of credit institutions with the administration of the Bank of Russia: developing the financial market infrastructure, expanding the availability of financial services, including a single biometric system and fast transfer system.
Interstate Bank, as a member of the Association of Banks of Russia, following the meeting of representatives of credit institutions with the administration of the Bank of Russia, noted the interest of financiers in direct dialogue with the regulator on the development of the stability of the banking system, provision of economic and legal guarantees for banks, the formation of a legislative framework.
Interstate Bank has a direct access to the payment systems of the Central (National) Banks of the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, the Republic of Tajikistan
The president of Interstate bank I. Souvorov will take part in the annual meeting with Russian banks’ high-ranking executives and with management of the Central Bank of the Russian Federation, which will be held on January 31 - February 1, 2019.
The meeting is organized by the Association “Russia”.
The President of Interstate Bank I. Souvorov was invited to join the work of the Session 1 "Eurasian Economic Union – the common market: modern paradigm of development" within the framework of the Russian Business Week (RBW). The Session is scheduled for March 13, 2019.
The RBW is organized by the Russian Union of Industrialists and Entrepreneurs.
International Economic Forum «CIS: digital economy as a platform for integration». Interstate Bank is a partner of the Forum. More information available at www.bc-cis.ru/forum
The Eurasian Economic Commission and the Interstate Bank jointly published the book “The Republic of Armenia in the Eurasian Economic Union. First results”.
Today the Interstate Bank celebrates the 26th anniversary since its establishment. It is on that day when the heads of the CIS member-states signed the Agreement on Foundation of the Interstate Bank.
Those years that have passed since then were intensive and productive for the Interstate Bank. The Bank demonstrates stability of its key indicators and continues strengthening long-term partnership relations with the founder states and counterparties. A recent confirmation by the international rating agency Fitch Ratings of the Bank’s credit rating of BB with a positive outlook became another evidence of the Interstate Bank’s successful performance.
Promotion of settlements in national currencies of the CIS member-states remains a short- and middle-term priority goal for the Interstate Bank.
We say thank you to all our partners for the long-term cooperation!
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International rating agency Fitch Ratings has affirmed Interstate Bank's (IB) Long-Term Issuer Default Rating (IDR) at 'BB' with a Positive Outlook.