VÚB Bank and EGAP signed a memorandum

VÚB Bank, in cooperation with International Banks Division (IBD)  of its parent company, Intesa Sanpaolo, has taken a significant step toward supporting Czech foreign trade. By signing a memorandum of cooperation with the Export Guarantee and Insurance Corporation (EGAP), it confirms its ambition to become a key partner for Czech companies as they expand into global markets.

VÚB Bank, operating in the Czech Republic through its branch in Prague, in coordination with IBD Corporate, SME & Small Business Department of Intesa Sanpaolo, and EGAP, a state-owned credit insurance company focused on covering political and commercial risks, have agreed to closer cooperation.

Following thorough discussions started in July 2025, VÚB Bank and International Banks Division have identified a short-term pre-export financing solution within the Trade Finance area, representing an opportunity for Intesa Sanpaolo Group to broaden the product offering and strengthen client loyalty. This partnership provides Czech exporters, regardless of their size—from small and medium-sized enterprises (SMEs) to large corporations—with better access to VÚB Bank financing, a higher level of risk coverage, and a strong foundation for entering challenging markets.

The signing of the agreement has been successfully accomplished thanks to a business concept developed by International Banks Division Commercial Products Team, following an in-depth business analysis and a tailor-made product selection. Such solution will aim at guaranteeing the expansion of the product portfolio providing support to VÚB Bank Prague branch clients within their value chain.

For VÚB Bank in Prague, this memorandum is a natural outcome of its long-term strategy. The bank focuses on providing comprehensive corporate services in the Czech Republic, leveraging the global know-how of the Intesa Sanpaolo Group.

Giuseppe Ferraro, Executive Director for Corporate Banking, SME, and Small Business within the Intesa Sanpaolo Group’s International Banking Division (IBD), commented on the signing:

“The signing of this memorandum is an important milestone that significantly strengthens our ambitions in the Czech market. By combining our international network and expertise with EGAP’s insurance instruments, we can offer Czech companies the stability and certainty they need to grow in a globally competitive environment. This is a clear signal that the Intesa Sanpaolo Group fully supports local exports and believes in the potential of Czech entrepreneurs. I trust that this initiative can be successfully and consistently replicated across other geographies where our Division operates, thanks to the collaboration with public sector bodies supporting export financing facilities”

The cooperation with EGAP will enable VÚB Bank’s clients to make more effective use of products such as export credit insurance, financing for export production, and performance bonds. As a leader in political risk insurance, EGAP fills gaps in the market and helps companies overcome the uncertainties associated with exporting to countries outside the EU.

Marek Dlouhý, a member of EGAP’s Board of Directors, comments on the partnership:

“The signing of the memorandum reflects the willingness of both institutions to further expand their mutual cooperation in financing and insuring Czech exports. These services are key to maintaining the competitiveness of exporters and investors in foreign markets and to their further development and growth.”

The Prague branch of VÚB Bank has long positioned itself as a bridge between the Czech market and international capital. Its priority is to understand the specific needs of the SME and mid-market segments, which form the backbone of the Czech economy.

Andrea Fiori, Director of the VÚB Bank Prague branch, highlights the local benefits of the agreement:

“For our Prague branch, this memorandum marks a new phase in providing tailor-made solutions for Czech exporters. Our goal is not merely to be a lender, but a strategic advisor that opens doors to new opportunities for companies. Thanks to our partnership with EGAP, we are enhancing our clients’ competitiveness and helping them minimize risks when entering new, dynamically developing markets.”

The signing of the memorandum is a clear signal to the market that VÚB Bank is actively investing in relationships with key national institutions in the Czech Republic to support the stability and sustainable growth of the domestic export sector.