28 March 2004
Businesses in the Middle East can have millions of dollars of working capital trapped in financial processes. ABN AMRO today launched its integrated Working Capital offering in the region, enabling corporates to seize the opportunity to unlock this trapped value, by making their financial supply chains more efficient.
ABN AMRO's Working Capital business brings together areas of recognised expertise in trade, cash management, liquidity and foreign exchange to provide an integrated advisory approach for corporates. The bank’s experts work with clients to map out their needs across the organisation, suggesting solutions for distinct areas of need.
ABN AMRO has a long-established presence in the UAE and at the end of 2003 celebrated its 30th year as a leading bank in the region. Dubai is, today, the hub of the bank’s regional banking activity and the cornerstone of its working capital expertise in the Middle East.
In a highly competitive environment corporates are focused, increasingly, on reducing the cost of doing business while improving the availability and efficiency of their daily working capital flows. This can be achieved by adopting end-to-end supply chain solutions, improving local and regional cash flow processes, more efficient balance consolidation and seamless access to highly liquid, flexible, investment products that can protect and maximise potential yields.
A suite of Web-based transaction and reporting channels is a key element of ABN AMRO’s Working Capital offering. These are integrated with clients’ key accounting and treasury systems, facilitating initiation and management of domestic and international payments and trade services, direct access to intra-day transaction information and the ability to monitor – in real-time - transactions and account balances throughout the region.
MaxTrad, ABN AMRO’s award-winning Web-based trade services platform, is of special relevance to UAE’s role as a major trading hub. A new enhanced version of MaxTrad has today been launched, which provides greater value-add to exporters, importers, suppliers and clients in the Middle East. ABN AMRO will shortly be rolling out its latest online delivery innovation – Online Services – in the region, providing secure, single-window Internet access to cash management, cash clearing and online reporting services.
Ashok Das, Head of Working Capital Group, UAE said:
“Our clients are being driven by an urgent need to achieve cost savings. So our working capital solutions are aimed at partnering with our clients to realise cost efficiencies by freeing up cash locked in their working capital cycles”.
Rosemary Leahy, Head of Business Management, CEEMEA, Cash Flow Advisory said:
“Our long-standing presence and reputation in the region has led to the development of a market-leading payment and collection infrastructure. Local and global innovation in Web-based transaction and reporting will ensure that clients in the United Arab Emirates can achieve the optimal balance of risk and efficiency in the management of their working capital cycles.”
ABN AMRO is demonstrating its expertise in working capital management and range of solutions at the EuroFinance Cash & Treasury Management conference on 28 and 29 March at the Grand Hyatt Hotel, Dubai.
-Ends-
Notes to Editors
Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 560.4 bn (as of 31 December 2003). It has over 3,000 branches in more than 60 countries and territories, and has a staff of over 110,000 full-time equivalents worldwide. ABN AMRO is listed on the Euronext, London and New York stock exchanges
ABN AMRO operates through three Strategic Business Units, each responsible for managing a distinct client segment. Wholesale Clients provides integrated corporate and investment banking services to corporate, institutional and public sector clients worldwide. Consumer & Commercial Clients focuses on retail and SME clients in three home markets – the Netherlands, the US Midwest and Brazil and in a number of selected growth markets. Private Clients & Asset Management provides private banking services to wealthy clients and investment products to financial intermediaries and institutional clients.
ABN AMRO's Wholesale Clients Strategic Business Unit provides integrated corporate and investment banking solutions to over 10,000 corporate, institutional and public sector clients in about 50 countries. Its client-led approach is sector based and structured around four product groups: Financial Markets, which includes fixed income, syndicated loans, treasury, structured and project finance and risk management; Working Capital, which offers liquidity management, global payments and receivables and trade finance; Corporate Finance & Equities, providing corporate advisory as well as equity capital markets expertise and secondary market services; and Private Equity. With a global network, specialists in all major industry sectors and a broad range of products, ABN AMRO provides local and global expertise for complex cross-border deals.
Press enquiries:
Adrian Rimmer (London): +44 20 7678 4050
Pooja Rajani, (Dubai): +971 50 653 5623
Deborah Cleary (Bates Pan Gulf, Dubai): +971 50 4582284
Businesses in the Middle East can have millions of dollars of working capital trapped in financial processes. ABN AMRO today launched its integrated Working Capital offering in the region, enabling corporates to seize the opportunity to unlock this trapped value, by making their financial supply chains more efficient.
ABN AMRO's Working Capital business brings together areas of recognised expertise in trade, cash management, liquidity and foreign exchange to provide an integrated advisory approach for corporates. The bank’s experts work with clients to map out their needs across the organisation, suggesting solutions for distinct areas of need.
ABN AMRO has a long-established presence in the UAE and at the end of 2003 celebrated its 30th year as a leading bank in the region. Dubai is, today, the hub of the bank’s regional banking activity and the cornerstone of its working capital expertise in the Middle East.
In a highly competitive environment corporates are focused, increasingly, on reducing the cost of doing business while improving the availability and efficiency of their daily working capital flows. This can be achieved by adopting end-to-end supply chain solutions, improving local and regional cash flow processes, more efficient balance consolidation and seamless access to highly liquid, flexible, investment products that can protect and maximise potential yields.
A suite of Web-based transaction and reporting channels is a key element of ABN AMRO’s Working Capital offering. These are integrated with clients’ key accounting and treasury systems, facilitating initiation and management of domestic and international payments and trade services, direct access to intra-day transaction information and the ability to monitor – in real-time - transactions and account balances throughout the region.
MaxTrad, ABN AMRO’s award-winning Web-based trade services platform, is of special relevance to UAE’s role as a major trading hub. A new enhanced version of MaxTrad has today been launched, which provides greater value-add to exporters, importers, suppliers and clients in the Middle East. ABN AMRO will shortly be rolling out its latest online delivery innovation – Online Services – in the region, providing secure, single-window Internet access to cash management, cash clearing and online reporting services.
Ashok Das, Head of Working Capital Group, UAE said:
“Our clients are being driven by an urgent need to achieve cost savings. So our working capital solutions are aimed at partnering with our clients to realise cost efficiencies by freeing up cash locked in their working capital cycles”.
Rosemary Leahy, Head of Business Management, CEEMEA, Cash Flow Advisory said:
“Our long-standing presence and reputation in the region has led to the development of a market-leading payment and collection infrastructure. Local and global innovation in Web-based transaction and reporting will ensure that clients in the United Arab Emirates can achieve the optimal balance of risk and efficiency in the management of their working capital cycles.”
ABN AMRO is demonstrating its expertise in working capital management and range of solutions at the EuroFinance Cash & Treasury Management conference on 28 and 29 March at the Grand Hyatt Hotel, Dubai.
-Ends-
Notes to Editors
Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 560.4 bn (as of 31 December 2003). It has over 3,000 branches in more than 60 countries and territories, and has a staff of over 110,000 full-time equivalents worldwide. ABN AMRO is listed on the Euronext, London and New York stock exchanges
ABN AMRO operates through three Strategic Business Units, each responsible for managing a distinct client segment. Wholesale Clients provides integrated corporate and investment banking services to corporate, institutional and public sector clients worldwide. Consumer & Commercial Clients focuses on retail and SME clients in three home markets – the Netherlands, the US Midwest and Brazil and in a number of selected growth markets. Private Clients & Asset Management provides private banking services to wealthy clients and investment products to financial intermediaries and institutional clients.
ABN AMRO's Wholesale Clients Strategic Business Unit provides integrated corporate and investment banking solutions to over 10,000 corporate, institutional and public sector clients in about 50 countries. Its client-led approach is sector based and structured around four product groups: Financial Markets, which includes fixed income, syndicated loans, treasury, structured and project finance and risk management; Working Capital, which offers liquidity management, global payments and receivables and trade finance; Corporate Finance & Equities, providing corporate advisory as well as equity capital markets expertise and secondary market services; and Private Equity. With a global network, specialists in all major industry sectors and a broad range of products, ABN AMRO provides local and global expertise for complex cross-border deals.
Press enquiries:
Adrian Rimmer (London): +44 20 7678 4050
Pooja Rajani, (Dubai): +971 50 653 5623
Deborah Cleary (Bates Pan Gulf, Dubai): +971 50 4582284
© Press Release 2004
