Bank ABC, a leading player in the region's banking industry, was recently named the Best Trade Finance Provider in Bahrain for the year 2019 by New York-based Global Finance magazine.

Global Finance selected the best trade finance banks in around 50 countries or regions, including the Middle East. The criteria for choosing the winning banks included the volume of transactions, scope of global coverage, customer service, competitive pricing and innovative technology. An awards ceremony for all winning financial institutions was held on January 16 in London, UK.

“We have selected the banks that are best serving the needs of corporations worldwide as they engage in cross-border trade,” said Joseph D. Giarraputo, publisher and president of Global Finance. “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. More recently, we have embarked on the journey to digitalise our services in Transaction Banking as a whole, including Trade Finance, Cash Management & Supply Chain finance, taking our business aspirations to new levels.”

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. It also organises annual awards for a number of banking areas. - TradeArabia News Service