• Named Best Trade Bank in Canada for the 5th year running
• Named Best Supply Chain Finance Bank in North America
TORONTO: 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.