Business Standard

Hinduja Bank to expand trade finance business

Related News

Hinduja Bank, a Switzerland-based financial services arm of Hinduja Group, is diversifying reach of its trade finance business to emerging markets, including India.

Till now, it was mainly active in Europe, the Mediterranean basin and West Asia for trade finance. Now, the bank is diversifying its geographical reach to new emerging markets, including India and South America.

In line with the ongoing strategy to enhance and strengthen its trade finance services, the bank has expanded its team by hiring five senior trade finance professionals. It, however, did not disclose their names, citing a confidentiality clause.

The bank said the team would start operating in June and July. The team has a combined trade finance experience of more than 70 years in different aspects of the business, including sourcing of clients, and setting up different trade finance credit facilities. The specific product expertise of team members include soft commodities, metals and petroleum products. Specific market expertise includes Brazil/ South America, sub- Saharan African markets, West Asia and Europe. The Bank started its trade finance activity in 2009 and has been investing in developing its capacity to serve Swiss and foreign companies with trade finance services.

Read more on:   
|
|
|

Read More

Rupee falls on oil demand, weaker euro

The rupee fell to near a one-week low on Monday hit by heavy demand for dollars from oil importers and tracking a euro that was under pressure.

Quick Links

More news from Finance Rss icon

Don't expect too many banks propping up immediately

Manojit Saha explains why RBI will remain 'conservative' in granting licences for payment banks and small banks

Govt plans to cut stake in PSBs to 52%; may get Rs 89,120 cr

There are about two dozen PSBs and government holding in them is between 56.26% and 88.63%

IDBI Bank to ramp up presence in rural, semi-urban areas

Says bank is using the Securitization Act to recover funds

Back to Top