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Sberbank Opened a Commodity Trading Company
23.07.2017 15:34
Sberbank Opened a Commodity Trading Company
(Source: http://eeenergy.com.ng)

Sberbank announces that it has created a subsidiary company named SB Commodity Trading LLC, and completed its first physical commodity purchase and sale transaction on the domestic market involving the provision of financing for oil companies and refineries.

      The new subsidiary has been created to carry out pre- and post-payment of deliveries of oil, gas, and petroleum products to producers, oil refineries, and commodity traders against future deliveries of oil and oil refinery products to end customers.

      This new product enables working capital to be generated prior to the beginning of production. Prepayment through purchase and sales contracts provides commodity producers and refiners with an additional source of liquidity, but does not possess the parameters of a debt instrument. Deals can be entered into at floating or fixed prices.

       


      
 

      
 

Sources: http://www.sberbank.ru 

Author: Anna Dorozhkina

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