1

Euro Exim Bank Limited

A global financial institution that facilitates international business transactions through the issuance and relay of various trade finance instruments.

Categories

Financial and Banking  
Summary

Euro Exim Bank Limited is a global financial institution with its Head Office in St. Lucia and a Representative Office in London. The bank holds a "Class A" international banking license from the Financial Services Regulatory Authority (FSRA) of St. Lucia, which allows it to conduct business with third parties worldwide. Euro Exim Bank emphasizes strong due diligence, compliance with anti-money laundering (AML) regulations, and operational excellence in its processes.

As an associate member of the Caribbean Association of Banks Inc (CAB), Euro Exim Bank benefits from knowledge sharing and opportunities for collaboration with industry leaders, enabling the bank to modernize its operations and improve customer service.

The bank places a strong emphasis on compliance with regulatory requirements and industry standards. It holds various licenses and certifications, which are regularly updated. These certifications and licenses demonstrate Euro Exim Bank's commitment to providing high-quality service and security to its customers.


History

Euro Exim Bank (EEB) has a relatively short but impactful history in the global financial industry. The bank was founded in 2015 with the vision of providing innovative and efficient financial solutions to support international trade.

Since its establishment, Euro Exim Bank has quickly gained recognition and established itself as a reputable institution. It holds a "Class A" international banking license from the Financial Services Regulatory Authority (FSRA) of St. Lucia, which authorizes the bank to conduct business with third parties worldwide.

From its headquarters in Rodney Bay, Gros-Islet, St. Lucia, Euro Exim Bank has expanded its operations by opening a representative office in London. This strategic move has allowed the bank to establish a presence in a major global financial centre and better serve its international clientele.

Euro Exim Bank is committed to staying at the forefront of industry developments and fostering partnerships to enhance its services. It became an associate member of the Caribbean Associations of Banks Inc (CAB), which has provided the bank with valuable opportunities for knowledge sharing and collaboration with industry leaders in the Caribbean region.

The bank's membership in the International Chamber of Commerce (ICC) further underscores its commitment to adhering to global trade standards and promoting best practices in international business.

Euro Exim Bank has been dedicated to supporting international trade and assisting both corporate clients and import businesses. Through its comprehensive range of services, including Letters of Credit (LC), Bank Guarantees, Standby Letters of Credit (SBLC), Proof of Funds Letters, and more, the bank facilitates smooth and secure transactions for its clients.

As part of its growth strategy, Euro Exim Bank has planned to expand its global footprint by opening offices in Singapore, Chennai, and Dubai in 2022/2023. This expansion will enable the bank to better serve clients in key economic regions and provide localized support.

Throughout its history, Euro Exim Bank has been driven by a commitment to professionalism, regulatory compliance, and operational excellence. Its focus on providing innovative financial solutions and fostering strong relationships with clients has positioned the bank as a trusted partner in international trade.


Mission

Their mission is to provide exceptional financial solutions and services to our clients, fostering their success in the global marketplace. 

Euro Exim Bank aims to be a trusted partner, offering innovative and reliable banking solutions that meet the diverse needs of businesses engaged in international trade. Through their expertise, integrity, and commitment to excellence, they strive to contribute to the growth and prosperity of their clients and the communities we serve as well.


Vision

Their vision is to be a leading global financial institution, recognised for their unique expertise in international trade finance and our dedication to customer satisfaction. Aspiring to be the preferred banking partner for businesses involved in cross-border transactions, offering them a comprehensive range of tailored solutions. 

By leveraging technology, fostering strong relationships, and embracing continuous innovation, their aim is to be at the forefront of the industry, driving positive change and empowering our clients to succeed in the ever-evolving global economy.


Recognition and Awards
CFI.co Awards: Best Global Trade Services Bank award in 2018 & 2019. International Finance Awards: Best Trade Services Bank in the Caribbean for 2019. Mirror Review Awards: One of The 10 Best Financial Solution Providers to Look for in 2019. Finance, Banking & Investor (FBI) Magazine: Best Global Trade Services Bank of the Year Award for 2019. The CEO View Awards: Top 50 Most Innovative Companies To Watch in 2020. The CXO Fortune Awards: 10 Most Influential Companies of the Year 2020. Global Corporate Excellence Awards: Global Corporate Excellence Awards Winners 2019. The Business Fame: Leading Fintech Companies to Watch in 2020. Customer Service Excellence

Products and Services

Euro Exim Bank (EEB) offers a comprehensive range of products and services designed to meet the diverse financial needs of its clients involved in international trade. With a focus on efficiency, reliability, and customer satisfaction, EEB provides innovative solutions to support businesses across various industries and jurisdictions. Here are some of the key products and services offered by Euro Exim Bank:

  • Letters of Credit (LC): Euro Exim Bank facilitates secure and efficient payment transactions between buyers and sellers through the issuance of Letters of Credit. LCs provide a guarantee of payment to the seller on behalf of the buyer, ensuring smooth international trade transactions.
  • Bank Guarantees and Performance Bonds (PB): EEB offers various types of bank guarantees and performance bonds to provide financial assurance to parties involved in business transactions. These instruments serve as a promise by the bank to cover losses in case of default by the borrower.
  • Standby Letters of Credit (SBLC): SBLCs are issued by EEB to serve as a "payment of last resort" if a client fails to fulfil a contractual commitment with a third party. These instruments provide proof of credit quality and repayment abilities, assuring the counterparty of a buyer's financial capability.
  • Pre-advice Services (MT799) / Ready, Willing, and Able Letters (RWA): EEB offers pre-advice services to inform the beneficiary of the details of a Letter of Credit before the shipping documents are presented. Ready, Willing, and Able Letters provide proof of a client's willingness and financial capability to engage in a commercial transaction.
  • Blocked Funds Services: EEB assists clients in blocking a certain amount of funds in an account for a specific purpose, ensuring the prevention of fraudulent transactions. During this period, the funds are placed in interest-bearing accounts, generating income for the account owner.
  • Proof of Funds Letters: EEB provides Proof of Funds (POF) letters, which serve as documentation or bank statements verifying an individual's or entity's financial capability to perform a transaction. These letters are based on the availability and legality of the funds.
  • Bank Comfort Letters: Euro Exim Bank issues Bank Comfort Letters, which assure third parties of the financial soundness of a particular individual or company. These letters provide an added level of assurance in business transactions.
  • Merchant Accounts and Payment Gateway (Eximwave): EEB offers merchant accounts and a payment gateway called Eximwave, allowing businesses to securely process international payments and manage their digital transactions.
  • Offshore Banking Services: EEB provides offshore banking services, catering to the specific financial needs of clients seeking to optimize their international business operations.
  • Escrow Services: EEB offers escrow services, acting as a trusted intermediary in financial transactions to ensure the secure and timely transfer of funds between parties.
  • Virtual VISA Cards and Charge Cards: Euro Exim Bank provides virtual VISA cards and charge cards, offering convenient and secure payment options to its clients.
  • Correspondent Banking Services: EEB facilitates correspondent banking relationships, enabling clients to access global financial networks and conduct seamless international transactions.
  • Money Remittance Services: Euro Exim Bank facilitates money remittance services, allowing individuals and businesses to transfer funds internationally with speed and security.

References
Euro Exim Bank Limited
Leadership team

Kaushik Punjani (Director)

Dr. Graham Bright JP (Head of Compliance and Operations)

Hrushi Punjani (Chief Technology Officer (CTO) and Head of International Sales)

Sonia Sifflet (Manager of St. Lucia)

Industries

Financial and Banking

Products/ Services
Letter Of Credit Bank Guarantee And Tender Guarantee Proof Of Funds Pre-Advice Services Blocked Fund Services Bank Comfort Letters Ready, Willing And Able Letters
Number of Employees
50 - 100
Headquarters
Rodney Bay, Gros-Islet, St. Lucia
Established
2015
Company Type
Private company limited by shares or Ltd
Company Registration
07520196
Social Media

Related Companies

Related Companies

About

Businessabc provides a digital business directory, resources, a marketplace, and a digital blockchain AI certification for businesses, organisations, and professionals.

Follow Us
Produced by
In collaboration with
Logo

Copyright 2023 © Businessabc powered by ztudium