BACB's commitment to the North African markets was recognised at GTR’s 2022 Leaders in Trade Awards, which celebrate excellence across the trade finance and supply chain finance sectors. For the third time, BACB was awarded ‘Best Trade Finance Bank in North Africa’.
BACB serves 24 of Africa’s 54 countries, with intimate ties to the Maghreb region. We are one of the few international financial institutions to operate in all five North African nations – Morocco, Algeria, Tunisia, Libya, and Egypt.
The award recognised our strong risk appetite for the region, informed by local knowledge and supported by an extensive correspondent banking network, on-the-ground capabilities and a compliance-led approach. Indeed, our representative offices in Algiers and Tripoli proved invaluable in providing clients with crucial support throughout recent economic uncertainty. In 2021, BACB handled over £840m of LCs from North Africa, of which £619m related to confirmed transactions.
“We’re delighted to receive this award for the third time. Navigating the specialist markets of North Africa often entails a unique set of challenges,” commented Eddie Norton, BACB’s CEO. “To be recognised once again by GTR is a testament to our team’s inherently flexible approach and proven track record in the region, based on the strength of our local relationships and regional expertise.”
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