"Kapitalbank" opened a correspondent account in US dollars at BNY
“Kapitalbank” has opened a correspondent account in US dollars with The Bank of New York Mellon (BNY), one of the world's largest financial institutions and one of the oldest banks in the US.
“Kapitalbank” opened a correspondent account in US dollars at BNY
The opening of the account will further strengthen “Kapitalbank’s” correspondent network and expand its capabilities in handling payments in US dollars. Direct cooperation with BNY will serve to increase the efficiency of international payments and diversify the bank's payment infrastructure.
For “Kapitalbank” clients engaged in foreign economic activity, this creates additional opportunities for settlements with foreign counterparties.
“The opening of a correspondent account at BNY is an important milestone in the development of ‘Kapitalbank’s’ international infrastructure. For us, this is not only an expansion of opportunities for settlements in US dollars, but also the result of consistent work carried out to develop compliance processes and adhere to international standards of doing business. We will continue to establish direct relations with leading global financial institutions in order to create wider opportunities for our clients in international operations,” says Sardor Ismailov, First Deputy Chairman of the Management Board of JSCB “Kapitalbank”.
Today, “Kapitalbank” maintains correspondent relations with 17 foreign banks. This ensures settlements in major global and regional currencies, including the US dollar, Euro, British pound sterling, Swiss franc, Chinese yuan, and other currencies.
BNY (The Bank of New York Mellon) is one of the oldest US banks and largest global financial institutions, founded in 1784. The bank provides services in asset management, securities servicing, and corporate banking.