The Innovators 2015 - Transactions Services, is Global Finance's annual listing of key innovations in treasury and transaction services.
DBS Bank for Currency Mismatch Back-To-Back Letter of Credit
Category of Innovation | Product/Process
The tailor-made currency mismatch back-to-back letter of credit from DBS helped its client, Xing Ye Group, simplify financing for its offshore trading unit, reduce financing costs and increase the firm’s accounts payable financing tenor.
It helped XYG to increase utilization of its second- and third-tier banks, and improved document handling efficiency. It also helped to raise DBS’s profile in China.