Bank of America Merrill Lynch’s solid offerings in global trade and supply chain finance were recently honored by a number of financial trade publications and their readers. These key industry awards exemplify the company’s market leadership and superior performance in servicing its clients across the globe, including thousands of large multinational and middle market importers and exporters, as well as financial institutions involved in international trade.
- Readers of Global Trade Review recognized BofA Merrill’s leadership in North America, voting the bank “Best Trade Finance Bank” for the region. The magazine said that “2011 was a year for growth for BofAML’s trade business,” referencing the impressive year-over-year business growth and substantial increase in the number of buyers in the bank’s supply chain finance programs. The magazine also noted that the bank held the highest delegated U.S. Exim lending authority and was the leading user of Exim’s working capital guarantee program, as evidence of its work to expand its structured and trade finance business network and product offering.
- For the fourth consecutive year, readers of Treasury Management International ranked BofA Merrill “Best Financial Supply Chain, North America” in the 2011 Awards for Excellence. The article accompanying the results stated, “In these times, it’s becoming more and more important to partner with a bank that can provide the advice, products and solutions to help companies capitalise on the growth opportunities while managing increasingly complex risk parameters,” and that BofA Merrill is such a bank.
- In its 2011 Deals of the Year awards issue, Trade Finance magazine recognized BofA Merrill for its role in providing innovative solutions to three corporate clients: Futaihua, Pemex and Votorantim.
- Asia-based publication The Asset announced the results of its Triple A Awards 2012 for Transaction Banking and singled out BofA Merrill for its role in the category of “Global invoice-based supplier chain finance solution,” coordinated on behalf of Orica.
- In other mentions, Trade and Forfaiting Review recognized BofA Merrill’s role in structuring the supply finance package for Futaihua in its 2011 Deals of the Year. Similarly, Global Trade Review also named the deal in its selection of Best Deals of 2011.
Bruce Proctor, head of BofA Merrill’s Global Trade and Supply Chain Finance, noted that the bank has seen increased interest in companies of all sizes wanting to do business globally. “Large corporates and middle-market companies are recognizing that there are key opportunities to going global – whether it is to source lower-cost products outside their borders, or whether it is to broaden their sales reach in newer markets,” he said.
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