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JB's weekly round-up - 3 March 2014
JB's weekly round-up - 3 March 2014
Jonathan Bell
6 March 2014

Spread the word…..tell your team…. Many of you who receive our Weekly News are also registered on the TXF News website. It is a free, regularly updated service. So, do also tell your colleagues about this free access.

EBRD pledges huge financial support for Ukraine
EBRD pledges huge financial support for Ukraine
Hesham Zakai
5 March 2014

The European Bank for Reconstruction and Development (EBRD) has demonstrated its support for crisis-hit Ukraine with a pledge to invest at least €5 billion in the country between now and 2020.

US Ex-Im appoints James Burrows SVP for small businesses
US Ex-Im appoints James Burrows SVP for small businesses
Hesham Zakai
5 March 2014

James Burrows has been appointed senior vice president for the small business group at the Export-Import Bank of the United States.

CGA of France launches new supply chain finance platform
CGA of France launches new supply chain finance platform
Jonathan Bell
5 March 2014

Compagnie Générale d’Affacturage (CGA) of France, a fully-owned Société Générale subsidiary, has launched a new supply chain finance platform to support business growth for small and medium-sized companies (SMEs).

Armenian bank signs debut syndicated loan facility
Armenian bank signs debut syndicated loan facility
Jonathan Bell
5 March 2014

Armenian bank Ardshininvestbank has signed its first syndicated loan facility with international lenders. Moreover, the transaction represents the first syndicated deal for an Armenian financial institution in the bank loan market without multilateral agency support.

ING Frankfurt expands export finance team
ING Frankfurt expands export finance team
Jonathan Bell
3 March 2014

ING Bank has expanded its export finance team with the hiring of Marina Grigoryeva to work in their Frankfurt office.

New head appointed at  Sibur's trading company
New head appointed at Sibur's trading company
Jonathan Bell
3 March 2014

Andrey Frolov has been appointed executive director of SIBUR International, Sibur group’s international trading arm. He will be based in Vienna. Frolov takes over from Ilya Gushchin, who has left the company.

Ukrainian crisis hits Western banks in different way to 2008/9
Ukrainian crisis hits Western banks in different way to 2008/9
Jonathan Bell
27 February 2014

The crisis in Ukraine is one of considerable concern for all banks involved in the market. Potential exposure is considerable. But in a report released today by Raiffeisen Bank International, it highlights just how different that exposure is now for Western European banks to Ukraine compared to the financial crisis that hit in 2008/2009.

FIMBank makes senior team hire
FIMBank makes senior team hire
Jonathan Bell
26 February 2014

Malta-headquartered FIMBank has hired Thomas Degen to its senior management team.

Barclays appoints head of international and trade
Barclays appoints head of international and trade
Jonathan Bell
26 February 2014

Barclays Business has appointed Steve Childs as head of international and trade for business banking. He will be based in London, UK.

JB's weekly round-up - 24 February 2014
JB's weekly round-up - 24 February 2014
Jonathan Bell
26 February 2014

It is your last chance to register your input for the ICC Export Finance Global Survey, conducted by TXF. It is the first time this survey has been attempted by the ICC but with broad participation we will be able to paint an accurate, representative industry picture which we hope will be of use to everyone in the industry.

Crédit du Maroc receives trade finance boost from EBRD
Crédit du Maroc receives trade finance boost from EBRD
Hesham Zakai
24 February 2014

The European Bank for Reconstruction and Development has provided a boost to Morocco’s export and import community in the form of a $40 million trade finance line to commercial bank Crédit du Maroc for the financing of foreign trade.

Ray Zabarte joins RBS as head of trade services
Ray Zabarte joins RBS as head of trade services
Hesham Zakai
24 February 2014

The Royal Bank of Scotland (RBS) has expanded its global transaction services division, appointing Ray Zabarte as its new head of trade services. Zabarte, who was previously head of trade product management at Barclays, will also take up the post of chief administrative officer for trade.

Euler Hermes to supply TCI for HSBC’s Malaysian clients
Euler Hermes to supply TCI for HSBC’s Malaysian clients
Jonathan Bell
21 February 2014

Euler Hermes has signed an agreement with HSBC as the exclusive supplier of trade credit insurance (TCI) products to HSBC commercial banking customers in Malaysia.

IFC announces trade partner awards winners
IFC announces trade partner awards winners
Jonathan Bell
21 February 2014

The IFC has announced 25 financial institutions as its best partners in trade and supply chain finance for 2013. The presentations took place at the inaugural Global Trade Partners Awards Dinner at the conclusion of its 6th Global Trade Partners Meeting, which took place this week in Lisbon.

IFC Lisbon gathering showcases success of programmes
IFC Lisbon gathering showcases success of programmes
Jonathan Bell
21 February 2014

With over 300 attendees at the IFC Global Trade Partners Meeting in Lisbon, Portugal over the past three days, the event demonstrates the success of the IFC’s various trade facilitation programmes.

NBE receives loan from EBRD to boost Egyptian trade
NBE receives loan from EBRD to boost Egyptian trade
Hesham Zakai
20 February 2014

The National Bank of Egypt (NBE) has received the second half of a $100 million loan from the European Bank for Reconstruction and Development aimed at helping businesses in Egypt to carry out more international trade.

Afreximbank signs loan with Nigeria’s Innoson
Afreximbank signs loan with Nigeria’s Innoson
Jonathan Bell
20 February 2014

The African Export-Import Bank (Afreximbank) has signed a credit facility worth $20 million to Nigeria-based industrial company, Innoson Technical and Industrial Company (ITIC), for the purchase of raw materials and inputs for production of plastic goods.

China’s Baoxin sets up RMB sweeping with StanChart
China’s Baoxin sets up RMB sweeping with StanChart
Jonathan Bell
20 February 2014

Chinese auto dealership Baoxin Auto Group has set up a non-quota-based renminbi (RMB) denominated two-way cross border sweeping transaction through Standard Chartered Bank (StanChart).

Crossflow Payments hires business development directors
Crossflow Payments hires business development directors
Hesham Zakai
19 February 2014

Supply chain finance provider Crossflow Payments has strengthened its business development team with the appointment of Alistair Ward and Peter Renshaw as business development directors. Adrian Benjamin also joins the team as an assistant business development manager.

Norton Rose Fulbright opens Brazilian office
Norton Rose Fulbright opens Brazilian office
Jonathan Bell
19 February 2014

Law firm Norton Rose Fulbright is expanding its Latin America coverage with the opening of an office in Brazil. The firm’s Brazilian practice will initially be based in Rio de Janeiro. It will complement the other Latin American offices in Caracas, Venezuela and Bogota, Colombia.

Bpifrance to launch financing mechanism to support SME exports
Bpifrance to launch financing mechanism to support SME exports
Hesham Zakai
18 February 2014

Bpifrance, the French public investment bank, has announced a new funding mechanism aimed primarily at small and medium-sized enterprises (SMEs) to help French businesses export their goods abroad.

JB's weekly round-up - 18 February 2014
JB's weekly round-up - 18 February 2014
Jonathan Bell
18 February 2014

The ICC, in conjunction with TXF, is currently conducting its first ever survey on export finance. The findings will form part of the prestigious ICC Global Trends Survey on Trade Finance, produced later this year.

IFC arranges loan for Myanmar Oriental Bank under GTFP
IFC arranges loan for Myanmar Oriental Bank under GTFP
Jonathan Bell
18 February 2014

The IFC is providing a $5 million trade finance facility to Myanmar Oriental Bank (MOB) that will allow the bank to help local companies increase their imports and exports, generate more foreign exchange, and create employment.

UniCredit and Exiar signed cooperation pact
UniCredit and Exiar signed cooperation pact
Jonathan Bell
17 February 2014

UniCredit has signed a cooperation agreement with the Russian Agency for Export Credit and Investment Insurance (Exiar). As such, UniCredit becomes the first foreign bank operating in Russia to establish a strategic partnership with the Russian export credit agency Exiar.

Lenzing chooses Deutsche for RMB cross-border trade
Lenzing chooses Deutsche for RMB cross-border trade
Jonathan Bell
17 February 2014

Austrian-headquartered Lenzing Group (Lenzing) has selected Deutsche Bank’s global transaction banking division as its cash management bank in the Shanghai free trade zone

Poland’s Bank BPH enhances trade finance operations
Poland’s Bank BPH enhances trade finance operations
Jonathan Bell
17 February 2014

Poland’s Bank BPH has enhanced its back-office trade finance capabilities with the signing of an agreement licensing the use of Surecomp’s latest version high-volume back-office solution IMEX 7.0.

Hopes, fears, challenges and outlook: take the ICC export finance survey
Hopes, fears, challenges and outlook: take the ICC export finance survey
Hesham Zakai
14 February 2014

The ICC, in conjunction with TXF, is currently conducting its first ever survey on export finance. The findings will form part of the prestigious ICC Global Trends Survey on Trade Finance, produced later this year.

Pan-African Alios secures funds through FMO
Pan-African Alios secures funds through FMO
Jonathan Bell
14 February 2014

Pan-African specialised finance group Alios Finance has secured a $12.5 million multi-currency senior loan from the Netherlands development financial institution FMO.

Kenya’s I&M Bank secures loan through Proparco
Kenya’s I&M Bank secures loan through Proparco
Jonathan Bell
13 February 2014

Kenya’s I&M Bank has secured a $40 million loan from development finance institution Proparco. The loan will be used by I&M Bank to onlend to corporate clients, small and medium-sized businesses (SMEs) as working capital and for trade purposes.

IFC provides UniCredit Tiriac Bank with trade credit
IFC provides UniCredit Tiriac Bank with trade credit
Jonathan Bell
13 February 2014

The IFC has extended a $20 million trade credit line to UniCredit Tiriac Bank – part of the UniCredit group) in order to channel additional financing to the bank’s clients working in import and export in Romania and boost economic growth.

Malaket joins ICC banking commission executive
Malaket joins ICC banking commission executive
Jonathan Bell
12 February 2014

The International Chamber of Commerce (ICC) has appointed Alexander Malaket, to its 12-member executive committee. He will advise the ICC Banking Commission on its trade register project and assist with the oversight and development of the project and its three-year strategic plan.

Westpac expands Asian trade teams
Westpac expands Asian trade teams
Jonathan Bell
12 February 2014

Westpac Banking Corporation (Westpac) has expanded its trade teams in Hong Kong and Singapore with some recent appointments.

Afreximbank to assist Zimbabwe trade banks
Afreximbank to assist Zimbabwe trade banks
Jonathan Bell
11 February 2014

The African Export-Import Bank (Afreximbank) has entered into an agreement with Zimbabwe to help tackle the country’s financial sector liquidity challenges through the introduction of a new facility and associated instruments for trade finance banks.

FMO signs credit facility for Bangladeshi IDLC Finance
FMO signs credit facility for Bangladeshi IDLC Finance
Jonathan Bell
11 February 2014

IDLC Finance, the largest multi-product financial institution in Bangladesh, has signed a $20 million credit agreement with the Netherlands development finance institution FMO.

Deutsche appoints new ASEAN head of trade finance and CMC
Deutsche appoints new ASEAN head of trade finance and CMC
Jonathan Bell
10 February 2014

Deutsche Bank’s global transaction banking division has appointed Vikas Arora as head of trade finance and cash management for corporates (TF/CMC) in ASEAN (Association of South-East Asian Nations). The development of this role for the bank in the region is indicative of the importance that Deutsche attaches to this segment of the business.

Financing Trade and International Supply Chains published
Financing Trade and International Supply Chains published
Jonathan Bell
7 February 2014

Perhaps surprisingly there are very few good books about international trade finance, and those that are available are somewhat dated. So it comes with considerable relief that Alexander R Malaket has written Financing Trade and International Supply Chains, which is published this month by Gower Publishing in the UK.

First Gulf Bank appoints global head of transaction services
First Gulf Bank appoints global head of transaction services
Jonathan Bell
7 February 2014

First Gulf Bank has appointed Manoj Menon as its new global head of transaction services and financial institutions (FI). He will be based in Abu Dhabi. His position at First Gulf Bank is part of the wholesale banking group management team.

RBS names new Asia head of STF
RBS names new Asia head of STF
Jonathan Bell
7 February 2014

The Royal Bank of Scotland (RBS) has appointed Sander Hansen as its new Asia head of structured trade finance. Hansen will be responsible for leading the development of RBS's structured trade finance business, including the structuring and execution of global commodity finance (GCF) and export credit agency (ECA) deals

World economy: 10 game changers for 2014
World economy: 10 game changers for 2014
Hesham Zakai
6 February 2014

The new year is set to usher in new political risks, largely focused around upcoming elections in India, Brazil, Turkey, South Africa and Indonesia. Some of the old risks have not abated either, with the Middle East and North Africa still beset by a series of political, social and economic challenges.

Investec expands export finance team with new hires
Investec expands export finance team with new hires
Jonathan Bell
5 February 2014

South African headquartered bank Investec is expanding its export finance team with the hiring of two highly experienced export finance professionals.

Deutsche establishes new global solutions unit
Deutsche establishes new global solutions unit
Hesham Zakai
5 February 2014

Deutsche Bank has established a new global solutions unit in the trade finance/cash management for corporates (TF/CMC) section of its global transaction banking division, focusing on designing and reproducing business solutions for large corporate clients with a view to accelerating growth.

 HSBC appoints Carlos Gonzalez Fillad as LatAm head of payments
HSBC appoints Carlos Gonzalez Fillad as LatAm head of payments
Hesham Zakai
5 February 2014

HSBC has appointed Carlos Gonzalez Fillad, formerly head of multinationals for its global banking business, as its new regional head of payments and cash management (PCM) in Latin America, effective from 1 February 2014.

Vestas appoints lead banks for new trade facility
Vestas appoints lead banks for new trade facility
Jonathan Bell
4 February 2014

Danish wind turbine manufacturer and wind project developer Vestas has appointed lead banks to arrange an €850 million ($1.16 billion) credit facility. Vestas has appointed a bank group comprising Nordea, DNB, HSBC and SEB to act as arrangers. The facility documentation is expected to be completed in the first quarter of 2014.

Fundtech hires Kyle McGaffey as head of Americas sales
Fundtech hires Kyle McGaffey as head of Americas sales
Hesham Zakai
4 February 2014

Fundtech, the global transaction banking solutions company, has hired Kyle McGaffey as its head of sales for the Americas. McGaffey’s role will be to lead Fundtech’s sales strategy in the region, where he will also be responsible for the sales personnel based there.

Banks arrange finance for GranEnergia multi-service vessel
Banks arrange finance for GranEnergia multi-service vessel
Jonathan Bell
3 February 2014

Mizuho Bank and Itaú BBA International have arranged financing for Rio-based oil and gas firm GranEnergia to purchase and take delivery of a multi-service vessel, named Olympia, which is destined for Brazilian offshore oilfields, in particular the Campos Basin.

ICBC poised to acquire Standard Bank’s London arm
ICBC poised to acquire Standard Bank’s London arm
Hesham Zakai
3 February 2014

The Industrial and Commercial Bank of China (ICBC) is to buy a 60% stake in Standard Bank’s London-based Global Markets business for $765 million, making it China’s first lender to establish a significant trading hub in London.

United Arab Bank introduces trade portal for corporates
United Arab Bank introduces trade portal for corporates
Jonathan Bell
3 February 2014

Sharjah-headquartered United Arab Bank (UAB)has launched an online trade portal recently, which is designed to transform the ease and speed with which corporate customers can complete an array of trade finance transactions.

VTB provides guarantees to Finnish-Russian shipping JV
VTB provides guarantees to Finnish-Russian shipping JV
Jonathan Bell
3 February 2014

VTB Bank has signed a general agreement with Arctech Helsinki Shipyard, in which Russia’s United Shipbuilding Corporation (USC) has a major shareholding. The agreement is part of the bank’s programme to develop strategic cooperation with Arctech.

Electronic Shipping Solutions rebrands as essDOCS
Electronic Shipping Solutions rebrands as essDOCS
Jonathan Bell
3 February 2014

Electronic Shipping Solutions (ESS) has today announced its rebrand to essDOCS (pronounced ‘sDocs’), a new identity that balances it’s electronic shipping solutions service with the requirements of a cutting edge and future-proof brand.