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FIMBank makes inroads into the Greek and Spanish markets
FIMBank makes inroads into the Greek and Spanish markets
Jonathan Bell
10 October 2014

Malta-headquartered FIMBank, has announced that it is entering the Greek market and will be providing a comprehensive range of trade finance and banking solutions, targeting corporate clients, focusing on International as well as domestic trade.

Interview with Aldermore’s Andrew Dixon
Interview with Aldermore’s Andrew Dixon
Dalia Gebrial
10 October 2014

Aldermore Bank (Aldermore), having just launched a new trade finance product – the second product launched by their new specialist finance team – is looking to fill a gap in the market when it comes to financing for small and medium enterprises (SMEs).

US Ex-Im generates substantial funds for US Treasury in fiscal 2014
US Ex-Im generates substantial funds for US Treasury in fiscal 2014
Jonathan Bell
9 October 2014

The Export-Import Bank of the United States (US Ex-Im) has announced today that it has transferred $675 million - that it has earned - to the US Treasury's General Fund for fiscal year 2014.

PEFCO appoints new CEO and treasurer
PEFCO appoints new CEO and treasurer
Hesham Zakai
8 October 2014

New York headquartered Private Export Funding Corporation (PEFCO) has appointed Timothy Dunne as its president and chief executive, effective October 1.

BTMU appoints new group head of commodity and STF
BTMU appoints new group head of commodity and STF
Jonathan Bell
8 October 2014

The Bank of Tokyo-Mitsubishi UFJ (BTMU) has appointed Jean-Marie Le Fouest joined as managing director in its investment banking division for Europe, Middle East & Africa (EMEA).

Brazil’s BBM gets IFC funding for agri-sector lending
Brazil’s BBM gets IFC funding for agri-sector lending
Jonathan Bell
7 October 2014

Brazil’s Banco BBM (BBM) has received loans and guarantees from the International Finance Corporation, which it will use to expand access to finance for medium-sized corporations in Brazil’s agribusiness sector. In total, BBM will receive $125 million from IFC.

JB's weekly round up - 07 October 2014
JB's weekly round up - 07 October 2014
Jonathan Bell
7 October 2014

Sibos 2014, held at the mega spaceship which is the Boston Conference and Exhibition Center, apparently had somewhere in the region of 7,000 people attending over the course of the four days.

International Factors Group appoints two new board members
International Factors Group appoints two new board members
Jonathan Bell
6 October 2014

International Factors Group (IFG) has elected two members to its board of directors.

New offices and senior appointments at Zurich credit and political risk
New offices and senior appointments at Zurich credit and political risk
Dalia Gebrial
3 October 2014

Zurich Insurance (Zurich), has expanded its credit and political risk business with several key appointments and two new offices, opened in Houston and Toronto.

Bulgarian telco receives EBRD loan
Bulgarian telco receives EBRD loan
Dalia Gebrial
3 October 2014

The European Bank of Reconstruction and Development (EBRD) has signed a €20 million loan ($25 million) to Bulsatcom, a Bulgarian satellite television, internet and mobile operator.

Transnet signs local currency deal with BHP Billiton
Transnet signs local currency deal with BHP Billiton
Dalia Gebrial
2 October 2014

Transnet has signed a 10-year contract for the export of coal via rail with the South African coal unit of the mining company, BHP Billiton (BHP).

Abengoa refinances corporate bank debt
Abengoa refinances corporate bank debt
Jonathan Bell
1 October 2014

Spanish renewable energy company, Abengoa, has signed an agreement to refinance its long-term debt by taking out a new syndicated loan amounting to approximately €1.4 billion.

Qatar’s Ahli Bank closes debut syndicated loan
Qatar’s Ahli Bank closes debut syndicated loan
Jonathan Bell
1 October 2014

Qatar-based Ahli Bank has successfully closed a $200 million syndicated term loan facility. The loan is the bank’s debut approach into the syndicated loan market

Ukraine to be largest EBRD trade beneficiary by end of 2014
Ukraine to be largest EBRD trade beneficiary by end of 2014
Dalia Gebrial
1 October 2014

The European Bank for Reconstruction and Development (EBRD) has announced it will increase its efforts in Ukraine.

Misys and FicroSoft team up to aid compliance
Misys and FicroSoft team up to aid compliance
Dalia Gebrial
1 October 2014

Misys, the financial software provider, has teamed up with the global provider of watch list filtering solutions, FicroSoft to help banks comply with intensified trade finance regulations.

IFC local currency loan for Tajikistani bank
IFC local currency loan for Tajikistani bank
Dalia Gebrial
1 October 2014

The International Finance Corporation (IFC), a member of the World Bank Group, is providing a $10 million subordinated loan and $5 million senior loan denominated in Tajik somoni (TJS) to Eskhata Bank.

Barclays appoints new head of financial institutions, Asia-Pacific
Barclays appoints new head of financial institutions, Asia-Pacific
Dalia Gebrial
1 October 2014

Barclays Bank has appointed Louise Taylor as head of financial institutions group (FIG), corporate banking for the Asia-Pacific region.

UK’s Aldermore launches new trade finance product
UK’s Aldermore launches new trade finance product
Dalia Gebrial
1 October 2014

The UK-based Aldermore Bank has launched a new funding facility aimed at importers and wholesalers.

Sri Lanka’s NDB gets agency funds for renewables
Sri Lanka’s NDB gets agency funds for renewables
Jonathan Bell
30 September 2014

Development finance institution Proparco and the Netherlands Development Finance Company – FMO, are providing a $75 million credit line to the National Development Bank of Sri Lanka (NDB). The loan is to support the financing of projects in the renewable energies, agro-industry and water supply sectors.

Lloyds Bank expands GTB team
Lloyds Bank expands GTB team
Dalia Gebrial
30 September 2014

Lloyds Bank has made three new additions to its global transaction banking (GTB) team. The three appointments are Keith Softly, Stephen Everett and Francesca Corscadden, who will all be based in London.

Bolero formally supports SWIFT’s MT798
Bolero formally supports SWIFT’s MT798
Hesham Zakai
30 September 2014

Bolero International (Bolero) announced today at the Sibos 2014 conference its decision to collaborate with banks on SWIFT’s trade for corporates, the MT798 corporate-to-bank message set.

CMB to adopt Deutsche Bank’s Asia Accelerator solution
CMB to adopt Deutsche Bank’s Asia Accelerator solution
Dalia Gebrial
30 September 2014

China Merchants Bank (CMB) today announced the signing of a Memorandum of Understanding (MoU) with Deutsche Bank, signaling its intention to use the German headquartered bank’s Asia Accelerator solution when processing US dollar and euro intra-Asia payments.

JB's weekly round up - 30 September 2014
JB's weekly round up - 30 September 2014
Jonathan Bell
30 September 2014

This week TXF is camped out at Sibos 2014, the SWIFT-organised financial services mega-event this year in Boston. It is an incredibly hectic week, so apologies that this weekly update is a bit later than normal.

Deutsche Bank announces new transparency and payments initiatives
Deutsche Bank announces new transparency and payments initiatives
Dalia Gebrial
29 September 2014

Deutsche Bank announced new milestones for its payments product offering for financial institutions (FIs).

NIB appoints new CFO
NIB appoints new CFO
Dalia Gebrial
29 September 2014

Nordic Investment Bank (NIB) has appointed Björn Ordell as its new chief financial officer, vice president and head of risk and finance.

Misys launches integrated corporate banking platform
Misys launches integrated corporate banking platform
Dalia Gebrial
29 September 2014

Misys, the financial software provider, has just launched Misys FusionBanking Corporate FrontOffice, a unified corporate client front end, which is integrated with enterprise pricing and credit lifecycle management.

EDC and K-sure sign reciprocal reinsurance agreement
EDC and K-sure sign reciprocal reinsurance agreement
Dalia Gebrial
26 September 2014

The export credit agencies (ECA), Export Development Canada (EDC) and Korea Trade Insurance Corporation (K-sure), have agreed to collaborate on transactions involving Canadian and South Korean companies. The move comes shortly after Canada and South Korea signed a landmark free trade deal, considerably increasing trade ties between the two countries.

SWIFT report shows rapid growth in RMB transactions
SWIFT report shows rapid growth in RMB transactions
Dalia Gebrial
26 September 2014

SWIFT’s RMB Tracker, which provides a monthly report on the international use of the renminbi (RMB), has found that global RMB payments have nearly tripled in value over the past two years, with one third of financial institutions now actively using RMB for payments to China and Hong Kong. This signals a 35% growth in the number of institutions doing so.

Finnvera extends export credit guarantees to domestic companies investing in Finland
Finnvera extends export credit guarantees to domestic companies investing in Finland
Hesham Zakai
25 September 2014

Finnish export credit agency (ECA) Finnvera has extended its export credit guarantees programme to industrial companies making export related investments in Finland, following a change in the country’s Export Guarantee Act.

OPIC Issues first ‘green’ guarantees supporting investments
OPIC Issues first ‘green’ guarantees supporting investments
Jonathan Bell
25 September 2014

The Overseas Private Investment Corporation (OPIC) has issued its first-ever ‘green’ guarantees to eligible US investors in domestic debt capital markets. These US government-guaranteed obligations adhere to the Green Bond Principles of 2014, developed in collaboration with leading capital markets issuers, investors, underwriters and environmental groups.

EBRD annual TFP forum focuses on overcoming regional challenges
EBRD annual TFP forum focuses on overcoming regional challenges
Dalia Gebrial
24 September 2014

The European Bank for Reconstruction and Development (EBRD) held its annual trade facilitation programme (TFP) trade finance forum in London on the 22nd and 23rd of September. The conference included a range of panels and presentations, on topics varying from local currency and capital markets development, to factoring in EBRD countries of operations.

ICC appoints new vice-chair ICC for customs and trade facilitation
ICC appoints new vice-chair ICC for customs and trade facilitation
Jonathan Bell
24 September 2014

The International Chamber of Commerce (ICC) has appointed Luis Fernando Barbosa Sahagun as the new vice-chair of the Commission on Customs and Trade Facilitation.

Trade insurer Markel appoints head of Dubai office
Trade insurer Markel appoints head of Dubai office
Jonathan Bell
24 September 2014

Markel International, the specialist trade insurer, has appointed Leroy Almeida to head up its office in Dubai. The appointment follows Markel’s application to the Dubai Financial Services Authority (DFSA) to establish a company to operate within the Dubai International Financial Centre (DIFC).

Sace fund provides additional support for Italian SMEs
Sace fund provides additional support for Italian SMEs
Jonathan Bell
23 September 2014

Sace, Italy’s export credit agency (ECA), has strengthened its commitment to supporting the internationalisation of Italian SMEs with a new debt fund that will subscribe to bonds issued by companies pursuing exports and international development

JB's weekly round up - 23 September 2014
JB's weekly round up - 23 September 2014
Jonathan Bell
23 September 2014

On November 26th we will be hosting our first ECA-DFI Finance conference in Asia, at the “Sky100" - up on the hundredth floor of the ICC building in Kowloon.

OPIC appoints VP financial and portfolio management
OPIC appoints VP financial and portfolio management
Jonathan Bell
23 September 2014

The Overseas Private Investment Corporation (OPIC), has apointed Mildred Callear as vice president for financial and portfolio management. In the role she will oversee efforts to maintain and ensure the progress of OPIC’s active worldwide portfolio.

Afreximbank receives cash injection from shareholders
Afreximbank receives cash injection from shareholders
Hesham Zakai
22 September 2014

Shareholders of the African Export-Import Bank (Afreximbank) have given a boost to the agency’s operations in the form of a $500 million capitalisation, after authorising a share offering to the bank’s existing shareholders.

Nine month extension for US Ex-Im
Nine month extension for US Ex-Im
Dan Sheriff
19 September 2014

US Ex-Im president Fred Hochberg has reacted to the latest development in the reauthorisation saga

IFC provides loan and advisory support for Myanmar bank
IFC provides loan and advisory support for Myanmar bank
Dalia Gebrial
18 September 2014

The International Finance Corporation (IFC) is to support the Myanmar commercial bank, Yoma Bank, with a $5 million convertible loan and advisory services.

Turkey’s İşbank secures loan from international bank syndicate
Turkey’s İşbank secures loan from international bank syndicate
Dalia Gebrial
18 September 2014

İşbank, Turkey’s largest private bank, has secured a $1.3 billion loan from 41 banks across 18 countries. The loan has a one-year maturity period, and a one year extension option.

Hungarian Exim to support SMEs with EIB loan
Hungarian Exim to support SMEs with EIB loan
Hesham Zakai
17 September 2014

The Export-Import Bank of Hungary (Hungarian Exim) is to provide a significant boost to SMEs and midcaps in the country, after it received a €200 million ($257 million) credit line from the European Investment Bank (EIB) to support their endeavours.

New report forecasts most promising regions for trade
New report forecasts most promising regions for trade
Dalia Gebrial
17 September 2014

TXF asesses HSBC’s most recent global trade report, which focuses on the changing role played by emerging market economies in the landscape of the global economy.

RBS appoints new head of GTS Asia-Pacific
RBS appoints new head of GTS Asia-Pacific
Dalia Gebrial
16 September 2014

The Royal Bank of Scotland (RBS) has appointed Rohit Sawhney as head of global transaction services (GTS), Asia-Pacific.

Euler Hermes appoints new CEO for Gulf region
Euler Hermes appoints new CEO for Gulf region
Jonathan Bell
16 September 2014

Euler Hermes has appointed Mahan Bolourchi as its new chief executive officer (CEO) for the GCC (Gulf Cooperation Council) region. He will have responsibility for Euler Hermes operations in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.

JB's weekly round up - 16 September 2014
JB's weekly round up - 16 September 2014
Jonathan Bell
16 September 2014

We are pleased to launch the agenda for our Trade & Treasury event, which will be held in Munich on December 9 and 10.

Banksville appointment bolsters Latin American presence
Banksville appointment bolsters Latin American presence
Dalia Gebrial
15 September 2014

New York-based consultancy firm, Banksville Partners (BP), has appointed Hugo Pezzoni to its Buenos Aires office.

Turkey’s Aktif Bank secures trade funds through the ITFC
Turkey’s Aktif Bank secures trade funds through the ITFC
Jonathan Bell
15 September 2014

The International Islamic Trade Finance Cooperation (ITFC), a member of the Islamic Development Bank Group, has signed a $45 million murabaha agreement with Turkey’s Aktif Bank.

Standard Bank capitalises on liquid market with oversubscribed club loan for trade purposes
Standard Bank capitalises on liquid market with oversubscribed club loan for trade purposes
Jonathan Bell
15 September 2014

The Standard Bank of South Africa has signed a $560-million, 36-month term loan facility with a club of international banks.

Ambitious ITFA revamp looks to the future
Ambitious ITFA revamp looks to the future
Hesham Zakai
12 September 2014

The International Trade and Forfaiting Association (ITFA), formerly the International Forfaiting Association (IFA), has undergone an ambitious revamp focused on playing a bigger role in a changing market landscape and building a more viable structure for the future.

EssDOCS opens Americas HQ, and appoints office head
EssDOCS opens Americas HQ, and appoints office head
Dalia Gebrial
12 September 2014

EssDOCS, the provider of electronic documentation solutions within shipping and trade, has opened its first regional Americas headquarters office in Hoboken, New Jersey.