Expanding cooperation with foreign partners to create favorable conditions for small, medium-sized and private businesses is one of the priority areas of Trustbank Private Joint-Stock Bank. The bank is actively developing international relations, focusing on boosting investment activity, attracting credit lines, trade finance, and selecting partners with the highest international reliability ratings.
A meeting with representatives of The Bank of New York Mellon, one of the largest financial institutions in the United States, was held at the head office of Trustbank Private Joint Stock Bank. The talks were a logical continuation of a long-standing bilateral dialogue that has been actively developing since 2018. Within this long-term partnership, the American delegation’s latest visit has taken cooperation between the banks to a new, deeper strategic level.
The main topic of the meeting was a discussion of the prospects for opening direct correspondent accounts in US dollars. This would allow Trustbank to carry out cross-border clearing operations directly, without intermediary banks, which in turn would significantly increase the speed of international settlements for clients and reduce commission fees. Following the meeting, the parties agreed to continue joint work on exploring the possibilities of establishing correspondent relations. Taking into account the growing need of the real sector of the economy for prompt money transfers, the parties officially announced their readiness for long-term strategic cooperation.
Background:
- BNY (The Bank of New York Mellon) is a US bank with a distinguished history, founded in 1784, and one of the largest global financial institutions in the world. The bank specializes in asset management, securities-related custody services and corporate and investment banking. Assets under custody and/or administration (AUC/A) total $62.6 trillion, and assets under direct investment management (AUM) total $2.2 trillion. The bank’s own balance sheet comprises total assets of $472.3 billion, with shareholders’ equity of $44.8 billion and a Tier 1 capital ratio of about 11%. BNY holds high investment-grade credit ratings from international rating agencies: “AA–” on Fitch’s scale, “Aa3” per Moody’s, and “A” affirmed by S&P with a stable outlook.
