UniCredit has become the first bank in the world to replace open account trade finance with the BPO, GTR has learnt.
The German lender has gone live with a fully-automated deal with Bank of Tokyo-Mitsubishi (BTMU) (the first between Germany and Japan), for a transaction between seller Rühr- und Verfahrenstechnik (RVT), a Bavaria-based producer of industrial mixers, and buyer Mitsui & Co. Plant Systems (MPS), which provides equipment and facilities to the Japanese industrial sector.
Trade Finance Partners has announced a £1mn trade finance facility in favour of UK-based Big Belly Bins Solar.
Afreximbank has signed a US$272mn deal to finance Heritage Bank’s acquisition of Enterprise Bank in Nigeria.
RBS has re-hired Martin Knott as head of trade in its global transaction services (GTS) team.
The Berne Union has appointed Michal Ron, head of international relations at Sace, Italy’s ECA, as its new vice-president.
A commodities financing scandal in China has shed some light on the murky underbelly of its collateral trade, which some fear is fuelling bubbles in China’s economy. Finbarr Bermingham reports.
As the world of regulation heats up, GTR gathered its editorial board to measure the impact on the banking, legal and insurance industries.
Twitter for the latest updates