Services for Banks

FX Operations for Banks

NORVIK BANKA carries out a full range of FOREX transactions with all major currencies. The transactions are carried out at intrabank exchange rate at the moment of closing a deal. NORVIK BANKA’s partners in the transactions above are major European, American, Latvian and Russian banks.

Conversion of RUB to USD, EUR and Other Currencies

On the date of roubles passing to an account of a Correspondent Bank a conversion deal is closed with NORVIK BANKA on selling roubles for USD, EUR or another currency. The conversion rate is based on the current intrabank trading rate at the moment of closing a deal. US dollars are placed on an account of a Correspondent Bank on the same banking day.

Additional Transactions

Apart from conversion of RUR to USD and EUR, NORVIK BANKA offers:

  • conversion operations with any currency on the following delivery terms: TODAY, TOMORROW, SPOT
  • SWAP-type operations with any currency and various delivery terms
  • NETTING – clearing operation

Trade Finance Transactions

One of the fields of NORVIK BANKA’s activity is transactions that are related to application of documentary letters of credit and documentary collection in international settlements. Application of documentary settlement forms and combination thereof allows making payment terms of foreign trade agreements more flexible, secure and to the utmost convenient for trade partners. NORVIK BANKA offers a full range of services to carry out foreign trade transactions and carries out all the generally accepted types of documentary transactions.

Payment settlements are regulated by the uniform regulations for documentary letters of credit issued by the International Chamber of Commerce UCP600, rev. 2007.

When required, NORVIK BANKA carries out post-financing of an issuing bank.

REPO Transactions

When carrying out REPO transactions with correspondent banks upon security of liquid financial instruments, NORVIK BANKA offers a loan for up to 95% of the market value. The maximum loan amount is established in each case by agreement. Interest rate when carrying out a REPO transaction is also established by agreement, indicative rate – depending on an asset: LIBOR + (2% - 4%). Specialists of the Investment Department of NORVIK BANKA are always ready to discuss with contractors the terms of carrying out certain REPO transactions.

Benefits of Working with NORVIK BANKA

NORVIK BANKA is acting actively on the bond market both in its own name and by order of customers. Spotless reputation and professionalism allowed NORVIK BANKA to establish relationship with the leading market operators in Moscow, London and New York. NORVIK BANKA’s correspondent banks, in their turn, have a possibility to conclude deals at the best prices on the market without having to open credit lines. NORVIK BANKA’s flexible tariffs system and availability of direct accounts in major depositories allow a convenient and profitable way to store bonds.

Cooperation Offer

NORVIK BANKA offers correspondent banks operations with a full range of futures contracts (on currencies, interest rates, stock indexes, raw materials, etc.). A standard commission fee is 15 US dollars for an operation with a contract. For partners with stable turnover the commission fee may be reduced. Additionally, NORVIK BANKA offers its partners operation on the Russian internal market. When working with the leading market makers in Russia, the Bank ensures that the transactions are carried out at the best market prices, while optimizing tax expenses to the maximum extent possible. NORVIK BANKA offers also operations with US issuers’ stock, including on NYSE and AMEX, as well as NASDAQ.

NORVIK BANKA’s commission fee is established by agreement, if a partner carries out transactions:

  • with bonds with the nominal amount exceeding 1,000,000 USD
  • with more than 100 000 US shares a month
  • with Russian shares for the amount exceeding 1,000,000 USD a month
  • with more than 100 futures contracts a month

Contact information

Financial Institution department (+371) 6704 1185

Dealing department (+371) 6704 1178