Raising the bar in trade finance

Business Asia, Nov, 2003

If you're in the export market and managing the complexities of different payment methods, different risk profiles and the uncertainties of foreign exchange, then read on. It's news that could make a considerable difference to your working day from now on!

Whilst Trade Finance has always been available to clients of the Commonwealth Bank in recent years, it has not been a high profile offering. In the last few months, that's changed. The Bank is raising the bar and putting a considerable commitment behind its trade area--to the benefit of current and future clients alike. The first step was the appointment of Mark Evans as executive manager (Mark was formerly the deputy general manager of State Street's Global Trade Banking division in Australia). The second was combining the skills of Mark and his new team with the considerable experience and product range already available within the Bank. The end result? A full service solution backed by specialised knowledge that few of the competitors, large or small, can match.

It's a move that is already paying dividends. Export clients are benefiting from greater profit opportunities and the minimisation of risk. They have access to the full range of internationally recognised payment methods, flexible finance and risk management tools--plus the reassurance of dealing with appropriately skilled staff. And, on the other side of the fence, the Bank has won business that it might not have contested in the past.

A final word from Mark Evans. "I joined the Commonwealth Bank to get trade back on the radar screen and to prove to the market--and ourselves--that we offer a range of products and services to satisfy our export clients. And, importantly from the clients' point of view, that we're really good at it. The successes so far speak for themselves. We can make a positive difference to the way they handle their export business."