In his book, Foundations of Structured Trade Finance see page 67 Dr Benedict Okey Oramah explains how structured trade finance had its origins in the s "when the debt crisis made many international banks cut their credit lines to many developing countries".
At that time, it was mainly large government parastatals commodity boards that had the monopoly of exporting commodities. Structured trade finance transferred the payment risk to a creditworthy trader or to banks located predominantly in OECD countries. The Deutsche Bank structured commodity trade finance SCTF team won't let go of the gold medal and the German bank's deal flow in very different regions around the world is testament not merely its teutonic tenacity, but rather it's reach, depth and track record.
He adds, "What might have raised an eyebrow or two was that not only did we lead the biggest commodity deal in South Africa in local currency too but, also, that we are doing SCTF deals in equal measure in developed markets such as the Americas including Venezuela, Guatemala, Argentina , Australia and Europe - including Germany - which maybe people don't expect and which is something of a homecoming for Deutsche Bank.
MacNamara explains that while many commodity banks will claim the big deals in, say, Russia or Africa as familiar SCTF territory, the fact that Deutsche Bank is active everywhere, "from Europe to America and from Asia to Africa", is "really our key differentiator". Zonneveld reiterates that "next to the ING organisation's true over-the-cycle commitment to the commodities industry, our past and present delivery is largely down to the creativity and sheer doggedness of our global team".
And while some of the Dutch bank's Russian deals may have had their challenges in the current geopolitical climate, Zonneveld remains upbeat and positive about the market and his portfolio. The sheer volume of structured Societe Generale deals that turn up in the annual TFR Deals of the Year is testament to the French bank's footprint and structuring reputation. Awards 29 July With the US being the only major economy to suffer a slowdown in the first quarter of and positive quarter-on-quarter Deutsche bring in Thomas Nielsen as chief digital officer.