lloyds-banks-on-ukasia-trade

Lloyds banks on UK-Asia trade

Lloyds' first wholesale banking relationship managers in Asia will focus on financial institution clients.

 

It has been a tough year for Britain's Lloyds Banking Group. Between the UK government taking a significant stake in March and a pro-forma 4 billion $6.5 billion first-half loss, not much positive news has been reported about the bank -- but through it all, the institution's wholesale trade finance business has grown.

Our actual trade volumes have been higher, while overall global trade flows have fallen, said Michael Gilham, head of trade finance for financial institutions at Lloyds TSB in London.

According to the UK Revenue and Customs Department, China is the country's largest trading partner in Asia 9th largest overall with total trade during the first 10 months of 2009...

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