MANAMA: New York-based Global Finance magazine has named Bank ABC as the Best Trade Finance Provider in Bahrain for 2019.
Global Finance has selected best trade finance banks in around 50 countries or regions, including the Middle East.
The criteria for choosing the winning banks include the volume of transactions, scope of global coverage, customer service, competitive pricing and innovative technology.
“We have selected the banks that are best serving the needs of corporations worldwide as they engage in cross-border trade,” said Global Finance publisher and president Joseph Giarraputo.
“Now more than ever, the availability of trade finance at reasonable prices is crucial to the health of the global economy.”
Sanjay Sethi, group head of transaction banking at Bank ABC, said: “We are very pleased to receive this award, which recognises the bank’s continued excellence in the Middle East trade finance market and its strong commitment to customer delivery.”
He added, “For around four decades, Bank ABC has been supporting the flow of trade between the Mena region and the rest of the world. We leverage our network of subsidiaries and branches in 15 countries to provide tailor-made trade finance solutions across traditional and open account trade to our clients, enhanced by strong trade risk distribution capabilities.
The bank has started to digitalise services in transaction banking as a whole, including trade finance, cash management and supply chain finance.
Global Finance reports on international finance issues, covering a wide range of related subjects such as corporate finance, joint ventures and mergers and acquisitions, country profiles and capital markets.
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