BEST INTERNATIONAL TRADE BANK IN PERU - Trade Finance - August 2011

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BEST INTERNATIONAL TRADE BANK IN PERU

03 August 2011

Scope and quality win through

Winner: ScotiabankHighly commended: Citi Peru’s economy has a high level of foreign trade, which, while diverse, is still dominated by commodity exports – copper, gold, zinc, textiles, and fishmeal. The country has experienced impressive economic growth in recent years, and bounced back from a low of 0.9% GDP growth at the height of the financial crisis in 2009 to 8.3% in 2010. This has been predominantly supported by mining and construction...

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There is a lot more financing activity coming from the trading companies, mining groups, and multinational corporations that have excess liquidity at their disposal. In many cases they are sitting on cash given high commodity prices, and can still attract banks loans – borrowing base facilities and revolvers continue to be renewed. This allows them to get more involved in direct trade financing on a prepayment or transactional basis. Essentially this is supply chain financing and their treasuries have become a lot more sophisticated.

News sources of trade liqudity find their place - March 2012

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