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ABN AMRO: A specialist approach
19 December 2011
Jonathan Bell talks with Maaike Steinebach (MS), MD, head of energy, commodities and transportation (ECT) Asia, based in Hong Kong and Ed Jongenelen (EJ), head of ECT services, both of ABN AMRO about the bank’s distinctive commodity financing offering.
Read more:
ABN AMRO commodity finance
commodity finance Asia
Eurozone crisis
ECT
energy commodities transport
agri finance
agri business
Trade Finance Magazine (TFM): Given the recent problems in the eurozone, how has that affected your Asian clients and others doing business in the Asian region?
MS: I believe the problems in the Eurozone have affected Asia more than everyone would have expected, unlike the 2008 crisis which left Asian players largely unaffected. Actually it’s a double whammy for them, as China is also struggling with controlling inflation, which has had an adverse effect on demand for raw materials as well as US dollar funding availability in China. Demand is lower and commodity prices are lower. Overall the clients are still doing okay though – as the traditional Chinese saying notes: chaos also provides opportunities. That is what we are seeing too.
TFM: Do you see any change in the way Asian traders are organising/originating their financing – ie moves to capital markets/bonds for example?
MS: Due to lack...
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