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Bills and Promissory Notes

Gazprombank is an active participant in the Russian bill market and an issuer of promissory notes (under which the Bank is a payer) denominated both in rubles and foreign currency.

During circulation of bills Gazprombank conducts the following transactions:

  • Register entry check. Gazprombank applies a technology, unique both nationwide and worldwide, for protecting security forms against forgery. When combined with on-line maintenance of the register of issued bills, it allows quick authentification of a bill at any of the Bank's branches.
  • Acceptance for safekeeping. In this case Gazprombank is responsible for safety of securities at their par value throughout the safekeeping period.
  • Securities safekeeping. Gazprombank’s depositary network is the largest in Russia and allows bill transactions to be executed in 60 regions of the country. The Bank’s specialists have designed a special mechanism for immobilizing bills and their exchange between settlement parties by transfer of the bill amount through custody accounts. This enables the Bank to more efficiently untie the knot of non-payments, control bill movement, and facilitate settlements between companies in different regions.
  • Early bill discount. Prior to giving a bill on early discount, it is necessary to have the ability to transact and the bill price approved by Gazprombank.
  • Payment agains bills. A bill may be presented for payment at any of Gazprombank’s branches, regardless of the payment place indicated in the bill. Bill funds are transferred on the following workday. In case a bill is presented for payment at a place other than that indicated therein, the following note should be made in the application: “We accept payment within 3 banking days.”

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