With international participation in Russian financial markets continuing to increase, Promsvyazbank has set itself the ambitious target of developing its trade finance business to even higher levels by the end of 2004, preserving its leading position in the market. Promsvyazbank already has a well-established International Trade Finance Business and has established a range of credit facilities and agreements. A senior executive at Promsvyazbank said: "Given that previous years have seen an average of three-fold increases in our portfolio, $850m is a very realistic target." Promsvyazbank currently has credit lines in place with a number of international banks totalling $300m. Perhaps more importantly, the facilities are regularly utilised and the active portfolio is approximately $250m.
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