Russia-based VTB Bank has implemented a
Centralised Treasury Management System for RosTek, Russia’s
government service which focuses on
the implementation customs policies.
The implementation means that RosTek will be
able to receive information on the state of its accounts instantly,
along with the accounts of its subsidiaries, and remotely manage
these accounts via electronic channels offered by VTB.
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The system is designed to establish the
efficient cash and account balance management for client and its
diversified branch network, allowing RosTek to control its external
and internal cash flows and achieve a decent level of return on
cash balances.
Gurinder Nihal, head of global transaction
banking at VTB, said:
“At the moment VTB and RosTek are
expanding cooperation to liquidity management products adding
value to the implemented Treasury Solution for the client. VTB
strives to continue providing innovative solutions for clients
aimed at improving the efficiency of their working
capital.”
VTB and RosTek have a long work relationship –
growing since July 2008, initiatives include basic cash management
services to more dynamic solutions.
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By GlobalDataRosTek was established by the Russia’s
Federal Customs Service in 1992.
