JPMorgan wins Thai trade mandate

JPMorgan Treasury Services has been selected by Thailand's Kasikorn Bank as its trade processing partner. In what is a new mandate, the collaboration will enable Kasikorn Bank's clients to gain greater transparency on their transactions as well as cash flow, funding and risk management.

The US bank says it will offer trade finance, supply chain management tools and logistics capabilities to clients. The deal will help to support the Thai bank’s clients' growing trade business needs via financing and risk mitigation structures.

JPMorgan meanwhile also gains access to Kasikorn Bank's domestic network, credit support and infrastructure to offer in-country trade-related solutions to its international customers as well as to Thai suppliers of its large corporate clients.

Asif Raza, JPMorgan managing director and Asia-Pacific head of trade and logistics management, says: “Thailand has a huge exporter community selling intra-Asia as well as to developed markets such as Japan, the US and Europe. These exporters are looking for logistics, supply chain, risk mitigation and financing solutions. At the same time there are large corporate customers who require a full suite of new trade solutions – a combination of financing and technology as they expand domestically and internationally.”