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Prizes
It was too late, the summer of 2001 was a risky time to launch an annual classification of the best trade financing banks in the world. Just months later, the September 11 attacks will destroy the World Trade Center in New York, which leads to a global economic slowdown. Air travel to stop, closed the ports, and the borders were tightened – which leads to international trade to a suspended road.
Organizations are covered Global financing The first list will face economic turmoil in the coming decades: among them, the 2008 global financial crisis, the European sovereign debt crisis, the Chinese Securities Market 2015, the Covid’s pandemic. It is also evident from the organizations that appear in Global financingThe twenty -fifth edition of this list, however, commercial financial banking has escaped these crises and flourished.
Since our initial awards, commercial barriers have decreased all over the world. In 2001, China entered the World Trade Organization while the European Union raised multiple free trade agreements. The comprehensive regional economic partnership in Asia was signed in 2020. African continental free trade area was placed the following year. These international agreements and other definitions and improved global business usually reduce.
But global trade is still a complex process, which increases its complexity due to a set of laws and regulations. This includes the management of customs tariffs, shares, and habits; Compliance with import and export laws; Determine and pay the appropriate taxes; Commitment to penalties and ban. Paper works abound.
Since 2001, paper documents have been numbered, including credit letters and shipping bills. Electronic documents, electronic gates, and trade limit all times of transactions and reduce human error counterparts. Artificial intelligence, automation to simplify the verification of documents, examination of compliance, and evaluation of risk. Distributed Professor Book Technologies help reduce fraud. The Internet of Things tracks goods in the actual time, providing a vital vision for the supply chain.
Prize winners develop with the market
Global financing The Best Banks award winners were distinguished by commercial financing in border financing, especially the supply chain financing, financing in emerging markets, and technology adoption.
The prizes program initially focused on banks operating in 30 countries and regions, which Global financing The concept was subject to a period of technological change. “The amount of international trade funded online is small, but it started to grow quickly,” we mentioned in 2001.
That year, Citigroup ranked first in the United States, the Americas and the world. Global financing It was called “the largest organizer to finance export under the programs of the Export and Import Bank in the United States” and praised its “wide global network”. DBS, the winner of Asia-regional “, was” developing into a regional power “; It is now one of the largest banks in Asia.
Citigroup won similar awards in 2002 and 2003. In 2004, Global financing The bank’s most prominent business of the bank, which funded the purchase of Aeroméxico for spare parts and maintenance services. This was the first financing dominated by the Mexican bizo supported by EXIM. CITI’s support for transactions imposed on local currency credit bodies attracted a wide range of Mexican business community.
International trade cooperation will only grow. In 2005, Deutsche Bank closed the $ 100 million bought dues facility for SADIA, the Brazilian poultry producer, meat and processed foods.
“In a German financial engineering show, Deutsche Bank was a major organizer and an agent for the complex facility, which collected 16 European American and Latin America’s banks as buyers of the city’s SADIA receivables,” we mentioned. Deutsche Bank won the Country Award for Germany.
By 2006, the new supply chains that link collective retailers with suppliers abroad challenged trade -financing banks to devise new ways to do business. Global financing Abn Amro praised the confirmation of a letter from the Karachi -based Metropolitan Bank to import Canola to Pakistan. In confirming the credit letter, the Dutch bank obliged itself to pay the suppliers by providing appropriate documents as evidence of the delivery of goods. This was the first completed deal within the framework of the World Corporation World Trading Program.
By the following year, commercial bankers played an increasingly advanced role in maintaining global supply chains smoothly. The most prominent of which is that it has increased the capital’s firmness available to suppliers in emerging markets. For example, BNP Paribas was praised to provide a “wide range of international guarantees”.
The cavity with the global credit crisis
In the wake of Lehman Brothers collapsing in 2008 and the global credit crisis that followed, international trade decreased in 2009 for the first time in 27 years. Credit is no longer available at a reasonable price, as needed, as commercial banks have become more cautious. However, some front -minded institutions have expanded their business into emerging markets. Standard Charterd acquired banks in Thailand, South Korea, Indonesia, Taiwan and other countries, and was awarded a regional prize for its work in Asia.
World Trade began to recover in 2010. major commercial banks worked with credit agencies for export and multilateral institutions to develop financial products that reduced the risks and confidence that were restored and accelerate cash flows.
Two years later, Global financing He was studying banks in 78 countries and region, even when the European sovereign debt crisis raised fears of decline in global trade. Many European credit banks withdrew from Asia, which is now an important manufacturing zone. After Basel III, some institutions find it difficult to meet international capital, liquidity and leverage requirements, and completely abandoned trade. Those who keep an increasing confrontation of scrutiny and transferred higher capital costs for their customers.
The new regulations such as Basel III motivated a technological revolution, as banks saw new technical tools as a way to do better businesses and the consent of the organizers. Swift rushed to pay payments by reducing the need for manual processing of commercial documents with the help of banks to meet the imposition of sanctions and AML/KYC requirements.
By 2018, the new platforms enhance commercial capabilities and simplify the rear office processing. Data and analyzes seemed to be a new source of value, especially in predictive analyzes. CCRMANAAGER, an internet platform that managed the distribution of trade financing assets among them, credit exporters, and fund managers, won the Best Commercial Finance Infrastructure Award. With more than 14 million commercial transactions annually, BNP Paribas won the best trade financing bank.
The digitization was helping to bridge the commercial gap between developed and developing countries. In 2019, Global financing I mentioned that “the leading banks in the field of commercial finance are about to convert their industry … into a more efficient and transparent digital model. This may help bankers to collect the resources needed to bridge the gap in financing trade in emerging markets, armed with transactions data, allocating their commercial offers to meet the needs of each Better customer.
Covid condenses digital transformation. In 2020 and 2021, companies and banks struggled with liquidity issues and disrupting the supply chain. Old platforms and operations have created additional obstacles. But technology often provides solutions.
Banks and other service providers adopt digitization strategies and introduced competencies in their operations that eventually reduced costs, help them manage their public budgets, and attract new investors. Consider the total of 2021 winner, City. Its commercial financing tools collection included applications that improve communication between trade financing partners.
New storms, new solutions
The global trade volume increased in 2022 and 2023 despite the high energy and inflation prices, high interest rates and the repercussions of the war of Russia, Ukraine. Last year, the International Chamber of Commerce predicted an annual increase in global trade by 3.8 % to 2032. The operation of this growth from banks in more than 100 countries and regions examined by Global financing For the best bank award, commercial financing awards.
The horizon is not cloudy. Protection may be closed, including the new and higher customs tariffs, some international doors. The currency risks now require commercial financial banks to develop hedge tools to manage fluctuations in volatile markets.
