ITFA NEW MEMBERS, April 2024

ITFA is pleased to welcome four institutions to its growing family:

Basisbank is a mid-size universal bank in Georgian (the ”Bank”), providing a full range of commercial and investment banking, trade finance & factoring, to its corporate and retail clients as well as Leasing and Insurance operations via BB Leasing and BB Insurance Arm.

Since year 2021 extensively increased international coverage via onboarding new Partner Banks and Financial Institution to its existed partner list, limits and product base and geographical coverage. Formed dedicated Trade Finance and Factoring Business Division under the umbrella of Business line, overseeing and leading TSCF business day to day operations along with focus on overall business development within the holding.

Basisbank is one the few mid-size local financial institutions in the region having access to trade finance risk coverage programmes and is therefore in a position to assure a continuous and reliable risk capacity to its customers. As of today, the Bank is a member of EBRD’s, IFC’s and ADB’s Trade and Supply Chain Facilitation Programms, with increasing limits being tripled for past year due to increased activity and demand of the Bank on Trade Financing domain.

Head of Trade Finance and Factoring Unit, Mrs. Manana Vakhtangishvili, will be the main contact for ITFA matters.

Mrs. Vakhtangishvili stated that Basisbank is committed to its strategy to be on top of the mind for its customers, partner institutions and targets as one of the most effective and quality service provider of trade finance solutions for Businesses in Georgia’s key economic sectors.

As one of the experienced and leading financial institution serving the business over 30 years in the country we position Trade Finance as one of the strong arm for business development and expects healthy growth in this business moving forward.  

—-

DRUM Advisory Limited is a global inventory, audit & control service provider headquartered in the City of London.

Chief Executive Officer, Mr. Peter Hopkins, will be the main contact for ITFA matters.  

Mr. Hopkins stated that Drum Advisory has built its reputation undertaking collateral management and inspection operations. The integrated risk management services include advanced borrowing base audits, borrowing base agent services, loss investigations & ESG operating facility audits.

—-

MS Amlin is a leading global (re)insurer, part of the global top-10 insurance group MS&AD, with operations in the Lloyd’s of London, Middle East and Asia markets. With a 100-year record, we deliver a quality service for businesses facing the most complex and demanding risks. Our role places us at the forefront of the Property & Casualty, Marine and Reinsurance markets.

Senior Underwriter – Credit & Political Risk, Nick Oxley, will be the main contact for ITFA matters.

Mr. Oxley stated that MS Amlin provides significant capacity and underwriting expertise across Credit Risk, Contract Frustration, and Political Risk classes. Our focus on continuity ensures strong, long-standing client relationships. From underwriting to claims, you can expect first-rate service and the unwavering support of experts who understand your world and share your goals.

—-

Tech Cargo is a logistics-based trade finance company bridging the gap between Funders and SMEs that need pre-shipment finance.

Chairman, Ernesto Vila, will be the main contact for ITFA matters.

Mr. Vila stated that Tech Cargo acts as an asset manager employing its global network of specialized logistics providers allowing funders to use the goods in transit as additional collateral, lowering the barriers to SME lending.

—-

Interested in joining our growing institution? Please click here » Membership Benefits (itfa.org) for more information or send us an email on info@itfa.org.