ENP Newswire - 11 June 2014
Release date- 10062014 - TORONTO, ONTARIO - BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (TSX:BMO)(NYSE:BMO), has been named the Best Trade Bank in Canada for a fifth consecutive year by London-based Trade Finance Magazine.
In an annual survey of the industry, the magazine also named BMO Capital Markets Best Supply Chain Finance Bank in North America, underscoring the strength of the BMO Capital Markets web-based supply chain finance solution that helps buyers negotiate better terms and helps suppliers lower working capital financing costs.
'BMO has shown the North American market that we understand Supply Chain Finance, and we're good at processing it,' said Peter Grills, Managing Director, Trade Finance, BMO Capital Markets. 'We work closely with the buyers, and the suppliers, and our program provider, for seamless implementation.'
The awards come amid a growing demand for trade finance, as developed and developing markets look to trade to drive economic growth.
'We congratulate BMO Capital Markets on winning the Best Trade Bank in Canada for an impressive five years in a row. This year they won the Best Supply Chain Finance Bank in North America for the first time, and proved that their in-depth knowledge, high levels of service and innovative approach also apply to working capital solutions,' said Bruno Alves, London-based editor of Trade Finance Magazine.
The Trade Finance survey ranks firms based on votes gathered from industry players and members of the magazine's editorial team. Manufacturers, exporters, importers, traders, government and multilateral agencies were consulted for their input on this survey.
BMO Capital Markets' Trade Finance Group has relationships with some 1,200 banks in more than 100 countries. It has relationships with thousands of companies across Canada, the United States and Asia, and BMO was the first Canadian bank with a wholly-owned subsidiary in China.
About BMO Trade Finance
BMO's Trade Finance Group advises clients at every stage of growth, whether they are a growing, independent, middle market enterprise or a large publicly traded firm involved in international trade across a number of sectors.
From risk mitigation to supply chain finance and trade payables processing, BMO specializes in anticipating and responding to the impacts of fluctuating interest rates and currency values on international trade, managing financial relationships with trading partners and navigating the regulatory landscape. BMO also offers powerful tools that make it easy for clients to execute transactions, monitor trade activity and track results.
About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American financial services provider. With more than 2,300 employees operating in 29 locations, including 16 in North America, BMO Capital Markets offers corporate, institutional and government clients access to a complete range of investment and corporate banking products and services.
BMO Capital Markets is a member of BMO Financial Group (TSX:BMO)(NYSE:BMO), one of the largest diversified financial services providers in North America with US $582 billion total assets and more than 45,500 employees at April 30, 2014.
About Trade Finance Magazine
Trade Finance Magazine is Euromoney Publications' flagship international trade, export, commodity and supply chain finance publication. Euromoney has been covering trends in trade finance for more than 30 years and is the longest standing global publication concentrating exclusively on the international trade finance market. The Trade Finance 'Awards for Excellence' have been awarded ever since the magazine launched in 1998.
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