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Trade Bank Gets $5.7m EX-IM Bank Facility By Onayemi Bamidele The Ex-Import Bank of the United States(EX-IM) has guaranteed a South Trust Bank provisional loan of $5.7m to Trade Bank plc. According to the Trade Bank, the deal is designed to further enhance Trade Bank's competitive advantage in the Nigerian economy. The EX-IM Bank guaranteed facility will enable Trade Bank plc to finance its customers's international transactions, particularly import and export businesses, structured or project financing and leasing. This new line of credit will also open the way for the bank's planned business support activities in the key sectors of the economy such as Telecommunications, Property and oil and Gas. Under its reinvented business plan, Trade Bank plc , while not necessarily regulating its traders' clientele to the background , is currentlly in its new growth phase where support and involvment in the key sectors like Manufacturing, Telecommunications and oil and Gas are the defining indices. According to a statement , part of the dollar-denominated facility will be used in providing financing in support of U.S export to Nigeria. The bank further stated that its patnership with Ex-IM bank would enhance its finaning schemes. It will be recalled that Trade Bank plc completed a Business Process Re-engineering programme (BPR) earlier in the year and adopted a new operational and strategic philosophy of operating in the middle and upper-tier strata of the economy. The BPR also brought in its wake a major overhaul of some of the bank's processes and procedures which in turn have ushered in a regime of fast and efficient operations in the bank nationwide. With a shareholder' fund of N3.2 billion, the bank has 30 business offices across the country with most of its branches linked to the Head Offices via on-line real-time software. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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