Global Correspondents Banking

This dedicated team provides exclusive credit, deposit, collection, clearing and payment services to banks and financial institutions.

Nostro accounts

A bank account established in a foreign country for the purpose of holding that country’s currency.

Benefits

  • For currency settlement, where a bank or other financial institution needs to hold balances in a currency other than its home accounting unit.
  • Reduces risks from exchange rate volatility.

 

Vostro Accounts

Vostro accounts are local accounts holding local currency serving as nostro accounts for foreign entities.

Benefits

  • Allows foreign companies to hold money in local currency
  • Reduces risks from exchange rate volatility.

 

Funded lines of Credit

Ongoing short-term borrowing from a bank with an interest rate for borrowing against the line of credit with an upper credit limit.

Benefits

  • Similar to a corporate credit card only with higher credit limits.
  • Quicker approval process.’
  • Short term.

 

Banknote Trading

Wholesale and retail trading of banknotes and coins.

Benefits

  • This reduces costs and risk
  • Negotiated rates


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