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BNY Mellon secures German trade deal

BNY Mellon has signed a trade processing partnership with Helaba (Landesbank Hessen-Thüringen) and the G25, a group which represents the 25 largest Sparkassen in Germany. In a deal that will help drive German export growth by boosting trade between the German Mittelstand and the Asia-Pacific (APAC) region, BNY Mellon will use its extensive correspondent banking network in APAC to promote the brands of Helaba and the Sparkassen, with Heleba and the Sparkassen routing letters of credit from German importers via BNY Mellon’s branch network. Following Moorgate’s outreach, the news has been published in a number of target publications, including FX-MM, Bobsguide, GTR, Finextra, gtnews, and Trade Finance.

BNY Mellon’s full announcement can be read here

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