ZAGREB, May 23 (Hina) - The Commercial Bank d.d. has signed a 'confirming bank agreement' with the European Bank for Reconstruction and Development (EBRD) thus becoming the first Croatian bank included in a list of banks which confirm
various instruments in international trade (such as guarantees by foreign banks) or discount bills issued or guaranteed by a foreign bank, in line with EBRD's guarantees. According to a statement from the Commercial Bank, this deal will enable a simpler and more successful cooperation between Croatian exporters and central and east European countries, since the bank will be able to confirm foreign guarantees under more favourable terms, officials at the Commercial Bank stressed. Rights and obligations from the agreement will remain in force after the merging of the Commercial Bank d.d. and the Bjelovarska and Cakovecka Banks into a new bank, which will be bas
ZAGREB, May 23 (Hina) - The Commercial Bank d.d. has signed a
'confirming bank agreement' with the European Bank for
Reconstruction and Development (EBRD) thus becoming the first
Croatian bank included in a list of banks which confirm various
instruments in international trade (such as guarantees by foreign
banks) or discount bills issued or guaranteed by a foreign bank, in
line with EBRD's guarantees.
According to a statement from the Commercial Bank, this deal will
enable a simpler and more successful cooperation between Croatian
exporters and central and east European countries, since the bank
will be able to confirm foreign guarantees under more favourable
terms, officials at the Commercial Bank stressed.
Rights and obligations from the agreement will remain in force
after the merging of the Commercial Bank d.d. and the Bjelovarska
and Cakovecka Banks into a new bank, which will be based in Zagreb.
The merger should take place at the end of this year.
(hina) rml