‘Deutsche Bank reiterates commitment to Nigeria’

With four decades of operations in Nigeria, Deutsche Bank AG, a global banking and financial services company with headquarters in Frankfurt, has reiterated its commitment to the development of Nigerian businesses.

Head of Deutsche Bank’s Representative Office in Nigeria, Andreas Voss, who spoke at the awards ceremony to honour leading cash management and trade finance institutions in Nigeria, said Deutsche Bank has a strong and long-standing relationship with Nigerian banking industry.

“Deutsche Bank remains a reliable partner, which is committed to assist its Nigerian clients facilitate trade business not only to Europe but across the globe,” Voss said.

He noted that the 2017 Awards for Excellence in Cash Management and Trade Finance in Nigeria was meant to showcase the capability of the Nigerian banking industry.

According to him, the winning banks have evidenced their strong capability to offer finance solutions in terms of payments efficiency and trade finance for the benefit of the Nigerian economy.

The first award, titled: “Straight-Through Processing (STP) Excellence Award”, which has been a feature of Nigeria’s financial markets for seven years, went to Stanbic IBTC Bank. Ecobank Nigeria occupied the second position.

The STP Excellence Award recognises those institutions that deliver outstanding quality in payment efficiency. The nominated banks successfully implemented an STP rate of over 99 per cent throughout 2017, serving to greatly reduce the administrative impact of payment processing, increasing efficiency and ensuring strict compliance with globally recognised payment standards.

The second award category, now in its third year, the “Global Reach Trade Finance Award”, recognises those institutions that have successfully grown their trade finance processing capabilities across international borders by both volume and quantum of transaction size. Access Bank Plc led the table under this category, followed by Zenith Bank Plc and Ecobank Nigeria Ltd.

Voss commended the winning financial institutions and reassured on the commitment of Deutsche Bank to the development of the Sub-Saharan Africa region’s financial markets.

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