Eurobank EFG was named ‘‘Best Trade Finance Bank in Greece’’ for 2012 by the internationally acclaimed ‘Global Finance’ magazine, recognizing for the seventh year the leadership of Eurobank EFG in Corporate Transaction Banking and Trade Finance products and services.
The importance of this achievement is underscored by the challenging selection criteria applied by ‘Global Finance’. These include: trading volume, geographic coverage offered by candidate Banks, client service, competitive pricing and superior technology applications.
Moreover, the provision of trade finance services at a cost appropriate for the current economic juncture was considered, as a key factor to maintaining even increasing the volume of cross border trading. Applying the above criteria, ‘Global Finance’ proceeded to review:
- The Bank’s performance in Trade services and its application of a sales model that caters to individual client needs.
- New products which empower exports, such as the pre-financing of export credits and export factoring.
- The recent upgrade to the e-trade platform, which provides immediate, easy access since last September to corporate e-banking services without certificate requirements. It is worth noting that online transactions are currently the first choice by many businesses and that 27.5% of the wholesale clients’ transactions now start over the Internet – up from 20% in 2009.
- The continual increase in Eurobank’s share of Greek exports. The Bank had placed particular emphasis on exports even before the outbreak of the crisis, as part of its overall proposal for a new growth model for the Greek economy, based on openness and innovation. This proposal includes a range of initiatives, such as the “Go International” business forum to promote exports, and the Bank’s alliance with the Export Credit Insurance Authority to support Greek exporters. Approximately € 2.5 billion worth of exports were processed by Eurobank in the first eleven months of 2011, as opposed to € 1.9 billion for the previous year. The Bank’s total cross-border trade market share is estimated to increase from 16.5% in 2008 to 20% in 2011.