Word: banke
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Dates: during 1960-1969
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...Wozchod bank, financing exports from Switzerland, Italy, West Germany and Scandinavia, will thus parallel the activities of Russian banks already established in the West. The biggest of these is the Narodny Bank of London, established in 1911 and now the busy occupant of an eight-story building in London's City. The Narodny bank does 90% of its business in East-West trade transactions, discounts (at a fat commission) bills of sale of Western exporters who have shipped East; by doing so, it saves them a three-to six-month wait for money and makes trade with the East...
Local Touch. Along with the Narodny bank, which also has a highly successful Middle East branch in Beirut, the Russians operate the Banque Commerciale pour 1'Europe du Nord in Paris. Founded in 1921 by expatriate White Russians, the B.C.E.N.-as Parisians call it-was sold to the Communist government in 1925, has since become a major Paris bank and has assets of $624 million. Like the new Wozchod bank in Switzerland, the B.C.E.N. operates with a mainly local board; the president is Guy de Boysson, 45, a French nobleman who once held Communist Party membership...
...Russian banks in the West all rack up tidy annual profits, and they may soon do even better. The Communist bloc, which once operated under a primitive barter system with the West in which each nation accumulated Western currencies on its own, now has a joint International Bank for Economic Cooperation. The bank operates as a kind of Communist central bank, switches currencies among member countries in order to improve trade. The bank's delegates will soon arrive in Zurich to confer with the Wozchod bank with a view to stimulating such trade even more...
...over th-there," answers a female bank teller who looks the way Red Riding Hood looked when Grandma turned out to be the Big Bad Wolf...
...lady replies with an even sweeter smile as she turns away with an alacrity amazing in one obliged to carry, in addition to her years, the staggering great stack of bank notes she has just forced the teller to stand and deliver...