IMPEXBANK summed up the results of cooperation with the internationalcorporation American Express in 2006 in providing correspondent bankswith a service of collectingAmerican Expresstraveler cheques inUSD and euro by-passing collecting banks.
Counteragents of IMPEXBANK in 2006 were represented by over 15 creditinstitutions of Russia and CIS including Sviaz-Bank (Russia),UNIASTRUMBANK (Russia), InvestCapitalBank (Russia),Novosibirskvneshtorgbank (Russia), Respublika Bank (Azerbaijan),Tojiksodirotbonk (Tajikistan), Asaka Bank (Uzbekistan), Kreschatik Bank(Ukraine) and others.
The total number of cheques received from counteragents for collectionin 2006 exceeded 52,000 totaling over USD 24,500,000.
At presentIMPEXBANKis the only Russian bank working directlywithAmerican ExpressCompany via electronic file exchange. Itallows counteragent banks to considerably reduce the reimbursementperiod and to decrease mail expenses on forwarding blank cheques whichincreases banks’ interest in this service.
American Expressis a multi-profile international companyproviding services in traveling, financing and banking businesses. Thecompany was established in 1850 and at present holds leading positionsin tourism, issuance and servicing of traveler cheques and plastic cardsas well as in the markets of financial planning, investment products,insurance and international banking services. At present AmericanExpress is considered to be one of the most expensive brands in theworld. American Express brand value is estimated at USD 18.56 billion(according to Business Week magazine and Interbrand Company, 2005).Today the corporation numbers 75,000 employees world-wide.
American Expresschequeis a payment document representingfinancial obligation of the issuer (American Express) to pay the amountindicated in the cheque to the holder (occasionally deducting a smallfee collected by the bank) whose signature was placed on the cheque atthe moment of the cheque purchase. The most distinctive characteristicof all American Express cheques is that their face value can bereimbursed usually within 24 hours after their loss*.
For more information on this and other services of partner-banks ofIMPEXBANKplease contact Consignment Sales Department at (495) 248-4378, 101-3178.
IMPEXBANKwas established in 1993 and at present it is auniversal commercial bank which is ranked 28th among the largest banksin Russia in terms of assets based on 2006 results (Interfax-CEA).IMPEXBANK has an extensive sales network including 205 offices, about400 consumer-loan offices.
ZAO Raiffeisenbank Austria and IMPEXBANK are affiliates of RaiffeisenInternazional Bank Holding AG (Raiffeisen Internazional), withsubsidiary banks and leasing companies in 16 CEE markets. The Bankserves 11.7 million customers at more than 2,775 business outlets, andalso has representative offices in Lithuania and Moldova. RaiffeisenInternational is a fully consolidated subsidiary of RaiffeisenZentralbank Osterreich AG (RZB), which owns 70 per cent of the commonstock. The remaining 30 per cent is free float; the shares are traded onthe Vienna Stock Exchange. RZB is a leading corporate and investmentbank in Austria and the central institution of the Austrian RaiffeisenBanking Group, the country''s largest banking organization.
* When buying any American Express cheque a Purchase Agreement isconcluded where reimbursement terms are stipulated.