KEB named Korea’s top trade financer

Published : Jan 22, 2015 - 21:29 Updated : Jan 22, 2015 - 21:29

Moon Kwang-chan (right), the head of KEB’s Amsterdam branch, shakes hands with Joseph Giarraputo, the publisher and cofounder of Global Finance, at an award ceremony in Amsterdam on Wednesday. (KEB)

The Korea Exchange Bank won a trade financing award from U.S. magazine Global Finance, bank officials said Thursday.

The New York-based monthly finance magazine named KEB Best Trade Finance Bank in Korea for the 14th time, in recognition of its superior performance in terms of transaction size, market share, price competitiveness and technological innovation.

As of late December 2014, KEB’s coverage of the country’s bank financing service had reached 43.8 percent in foreign exchange, 33.4 percent in imports-exports and 30.5 percent in the trade sector.

The assessment was conducted by a group of finance experts and analysts along with the readers of Global Finance.

“We are honored to win this award from Global Finance for the 14th time, which we take as an acknowledgement of being the country’s leading provider of foreign exchange banking services,” KEB said in a press statement.

“We will continue to make every effort to lead the market by developing new financial products that best suit the fast-changing global demand.”

By Chung Joo-won (joowonc@heraldcorp.com)