ITFA NEW MEMBERS, July 2022

ITFA is pleased to welcome the following seven institutions to its growing family:

Bank One Limited (hereinafter referred to as “Bank One” or the “Bank”) is a top-tier banking institution incorporated in 2008 following a joint venture between Mauritian conglomerate CIEL Ltd and Kenya-based I&M Group PLC.  Main delegate for ITFA matters is the Head or Trade Coverage, Mr. Gerald Moses Ndosi.
Leveraging on a team of 421 talented professionals across its five main business segments namely International, Corporate and Private Banking, Treasury, and Personal Financial Services, Bank One has strengthened its presence both locally and regionally in the last 13 years whilst mastering the complexities of the different geographies and markets where it is present. Gerald emphasized that Bank One has recently been rated by Fitch and awarded a rating of BB- Stable. Gerald stated that the bank is recognised for its bespoke products and services delivered to more than 50,000 domestic and international customers and has built a strong asset base of USD 1.3Billion. In line with its digital ambitions, Bank One has embarked on a series of key initiatives that are expected to materialise in 2022 and beyond. Moreover, Mr. Gerald Ndosi communicated that over and above its ATM footprint and network of 7 branches across the island of Mauritius, Bank One currently serves diverse customers located in 19 countries across Africa, including Mauritius.

COFARCO is a specialist credit insurance broker and trade finance arranger in operation since 2009. Main delegate for ITFA matters is their Executive Partner, Mr. Frédéric Blanchi. Mr Blanchi explained that Cofarco’s DNA is based on a dual capacity to arrange credit protection and raise finance with an exclusive focus on the sectors where their expertise makes a difference. With a well-established reputation as a lead expert in the commodities sector and a growing practice in long-term structured project and asset backed finance, the firm has worked with more than 150 clients in 32 countries among which global merchants, large industrial groups and leading investment banks intermediating with 80 insurers and lenders. Cofarco is a fully licensed Lloyd’s broker and operates out of Geneva, London and Paris.

Cofine Trade Finance Solutions LLC provides international financial services, specialized in trade finance products. Main delegate for ITFA matters is President, Mr. Miguel Angel Burelo. When approached by ITFA, Mr. Burelo explained that COFINE TFS consist of an experienced trade finance team with a proven track record specializing in providing banking services, with more than 20 years of experience in the industry, mainly focused on providing financial support to underserved Latin American Small and Medium Sized Enterprises (SMEs) importing goods from the United States and other Latin American countries. Furthermore, Miguel explained that the company structures short-term and medium-term trade finance products secured by International Export Credit Agencies (ECA´s) including US Exim Bank or top-rated private insurance companies.

DBS Bank Limited is a leading financial services group in Asia with a growing presence in Greater China, Southeast Asia and South Asia. As a bank born and bred in Asia, the bank is well-positioned to capture opportunities across the region. The main delegate for ITFA matters is the Head of GTS Australia, Mr. Thomas McGhee.  Upon contacted by ITFA he expressed that being purpose-driven is part of their DNA.  From the time of DBS’ and POSB’s founding as the Development Bank of Singapore and “People’s Bank” respectively, the bank believes in the importance of good citizenship. Mr. McGhee continued by affirming that building on this illustrious heritage, DBS continues to reinvent itself over the years with a view to creating a more sustainable bank.  The bank is focused on three sustainability pillars: (i) Responsible banking (ii) Responsible business practices and (iii) Creating social impact.

National Bank of Canada together with its subsidiaries, forms one of Canada’s leading integrated financial groups, and was named among the 20 strongest banks in the world by Bloomberg Markets.  Main delegate for ITFA matters is their Manager for International Trade Strategies – Western Canada, Mr. Narcisio (Caeser) Neves.  Mr. Neves mentioned that the Bank has close to 20,000 employees and is widely recognized as a top employer and that it’s securities are listed on the Toronto Stock Exchange (TSX: NA).

Regions Bank is a member of the S & P 500 index and is one of the United States largest full-service providers of consumer and commercial banking, wealth management and mortgage products and services. Mr Carson Strickland will be the main delegate with respect to ITFA matters.  Mr Strickland commented that Regions Bank serves customers across the South, Midwest and Texas.  In addition, Regions bank has approximately $150 billion in assets and over 18,000 employees.  The bank provides a robust offering of trade finance solutions to their commercial and corporate clients.  

Risk Mitigation Solutions Ltd (RMS Credit) is a specialist Credit Insurance broker with a deep understanding of domestic and international credit insurance products and markets worldwide. Main delegate for ITFA matters is the Director, Mr. Anthony Natsis. Mr. Natsis explained that for over 29 years RMS Credit has only ever specialized in developing and managing credit insurance solutions for their Banking and Corporate clients. During this time RMS Credit has been delivering market leading services for clients in Australia, UK, USA, Singapore and Middle East. Moreover, Anthony highlighted that RMS Credit consist of an experienced team of credit insurance professionals, with a deep understanding of risk and strong relationships with insurers to whom they deliver comprehensive client service program. He stated that it is the combination of these capabilities and processes that have earned their market wide reputation of developing successful risk mitigation strategies that meet even the most complex of circumstances.


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