J.P. Morgan agrees LC re-issuance deal with UBI

The new agreement will enable Union Bank of India to issue Asia-bound LCs through its Hong Kong branch.

J.P. Morgan has announced that it has signed a letter of credit LC re-issuance services programme with UBI through the Indian bank’s Hong Kong branch. Under the arrangement, J.P. Morgan will support UBI in the issuance of Asia-bound LCs. The new arrangement is designed to help UBI access a broader pool of potential new customers, drive increased beneficiary-driven revenue and enhance its presence in international markets.

The new services programme is a further development of...

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