Barclays Bank Uganda recognised for implementing a trade hub to support international network links as it wins Best Trade Finance Bank in Uganda at The Asian Banker Middle East and Africa Risk Management and Transaction Awards 2019
- Digitalisation of the process flow enhanced trade business capabilities
- Online trade channel boosts the bank’s regional operations
- Comprehensive network with banks all around the world
Dubai, 7 November 2019 – Barclays Bank Ugandareceived the award for Best Trade Finance Bankin Uganda at The Asian Banker Middle East Risk Management and Transaction Awards 2019. The awards ceremony was held in conjunction with the International Finance Summit, at Conrad Dubai.
From left: Nick Dove, International Resource Director, The Asian Banker; Allan Atuhaire, Head, Trade Finance & Working Capital, Absa; Mobasher Zein Kazmi, Head of Research, The Asian Banker
Digitalisation of the process flow enhanced trade business capabilities
Barclays Bank Uganda’s trade business capabilities grew strong over the year under review. The bank’s trade business revenue grew by 11% and it registered a growth of 21% for trade finance outstanding and 10% for the overall trade finance business, in 2018. Digitalization of the process flow is the key competitive advantage that Barclays Bank Uganda has in the trade business in Uganda.
Online trade channel boosts the bank’s regional operations
The bank made notable enhancements to its trade business by offering trade finance through its online platform. The bank experienced a considerable growth in the utilisation rates of the bank’s internet banking portal by its customers in 2018. The use of the online trade channel is a global initiative that had a positive impact on Barclays Bank Uganda’s regional operations and drove the growth of the bank’s trade business.
Comprehensive network banks all around the world
Barclays Bank Uganda increased their ability to promote cross border products and service to their clients by forging a comprehensive network with large international banks and entering Master Risk Participation Agreements. In addition, the bank became a trade hub and a focal point for all global trade transactions by leveraging on the global presence of Barclays Bank’s operations in 50 countries and favourable capital treatments in Trade Asset Hub.
About the programme
The Middle East and Africa Risk Management and Transaction Awards Programme is designed to identify emerging best practices and outstanding achievements of the best-run risk management teams and evaluate their achievements in cash management, payments, and trade finance business. Taking on an audit-based approach from 2018, the recipients of these awards were determined through a combination of surveys, interviews and field research by The Asian Banker’s research staff.
To know more about the programme, visit http://www.asianbankerawards.com/Middle-East-and-Africa-Awards/awards.php.
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About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com.
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