PANAMA
CITY, Nov. 21, 2022 /PRNewswire/ -- Banco
Latinoamericano de Comercio Exterior (Bladex) has entered into a
strategic alliance with Dubai-headquartered Fintech Innovations
International DMCC, owner of the TradeAssets e-Marketplace for
financial institutions. Partnering with TradeAssets will enable
Bladex to further promote interbank relations, providing customers
with greater access to trade-related financing solutions. As part
of the alliance, Bladex has become the first bank in Latin America to join the TradeAssets
platform.
Bladex and TradeAssets will collaborate to attract more Latin
American banks to the platform. This will support flows through
trade corridors connecting the region with Europe, Middle
East, Africa and
Asia, resulting in an attractive
value proposal for Bladex's stakeholders.
TradeAssets will facilitate establishment of relationships and
efficient deal-making in new geographies. For example, as a result
of this initiative Bladex is already engaged in conversations with
several banks in India, where the
LatAm-India corridor has huge importance with total trade flows
reaching USD43Bn in 2021, (+46%
Y-o-Y).
Bladex's CEO, Jorge Salas,
indicated that "Bladex is building its strategic plan on a unique
business model that will benefit from a series of critical
alliances, such as the one with TradeAssets, which aims to grasp
the existing finance opportunities across important trade corridors
for Latin America in an efficient
and safe manner."
"We are enthusiastic about this strategic alliance as its value
proposition meets several strategic goals for Bladex: it
facilitates access to new markets; accelerates clients or
counterparties growth and generates operational and efficiency
improvements which contribute to adding technological strength.
Additionally, it enables risk sharing and invites liquidity into
Latin America." added Salas.
Sumit K. Roy, Co-founder &
President of TradeAssets, said: "We are excited and privileged by
this partnership with Bladex. As a market leader in the
Latin-American trade finance space, Bladex provides a unique window
into the entire Region and is a prominent institution keen on
raising its international connectivity within the continent and
beyond. With this collaboration we aim to grasp new business
opportunities, while reducing the trade finance gap in Latin America."
Bladex is a multinational bank, originally established by
the central banks of Latin American and Caribbean countries, which began operations in
1979 with the purpose of promoting trade finance and economic
integration in the Region. The Bank, headquartered in
Panama, also has offices in
Argentina, Brazil, Colombia, Mexico, and an agency in the United States, to promote regional
development and serve its customer base which includes financial
institutions and corporations. Bladex has been listed on the
New York Stock Exchange in the United
States of America (NYSE ticker symbol: BLX) since 1992, and
its shareholders include: central banks and state-owned entities
from 23 Latin American countries, commercial banks and financial
institutions, as well as institutional and individual investors,
through its stock exchange listing.
TradeAssets is the first institutional e-marketplace of
its kind, with a growing clientele of 100 bank members from over 30
countries and is managed by 30 senior banking professionals across
the world. Since 2020 over USD 2.5Bn
have been posted in volumes. It is an ecosystem of financial
institutions, closing the global trade finance gap through an open,
inclusive marketplace connected by technology and enabling banks in
emerging markets to gain access to affordable trade finance and
liquidity in order to support their customers and keep supply
chains open.
TradeAssets members are based in East, South &
West Asia, Middle East, Africa, Europe & North
America. With Bladex also admitted as a valued
member, TradeAssets is now present and committed to the
financial institutions' community domiciled in Latin America.
For more information, please contact:
Bladex:
Irma Garrido
Arango – Senior Vice President, Business Development and
Alliances.
Email: igarrido@bladex.com Tel: (+507) 210-8559
Headquarters Address: Business Park Building, Tower V, Avenida La Rotonda, Urb. Costa del Este,
Panama, Republic of Panama
TradeAssets (Fintech Innovations International
DMCC):
Sumit K. Roy,
President & Chief Marketing Officer (Dubai)
sumit@fiiglobal.com Tel: (+971) 54-443-5467
Address: Unit 1763, DMCC Business Center, Jewellery &
Gemplex 3,
Dubai, United Arab Emirates
View original content to download
multimedia:https://www.prnewswire.com/news-releases/bladex-enters-into-a-strategic-alliance-with-tradeassets-spurring-digitalization-and-access-to-trade-finance-301683245.html
SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)