Wholesale Banking Group
The wholesale banking group division serves corporate clients, SMEs, and Financial Institutions, in addition to having a Transactional Banking Unit tailored to meet the Trade Finance and Cash Management needs of companies. The Wholesale Banking Division provides an array of banking solutions and services that bode well with the needs of clients operating in different sectors and industries under the Large Corporate and SME umbrella locally and internationally through Bank ABC’s global footprint in addition to having correspondent banks covering 69 countries.
In line the Bank ABC Group visions, the Wholesale Banking’s strategy focuses on enhancing the customer base through onboarding new-to-bank clients operating in promising sectors as well as government & quasi-government entities to maintain the quality of the portfolio. Bank ABC aims to enhance its electronic channel offerings and encourages its clients to switch to E-Channels due to its efficiency and accuracy, being a safe and innovative measure to conduct business. Bank ABC will continue to upgrade its digital platform with the aim to launch other platforms that will act as a catalyst to accelerating the way business is conducted.
|Corporate Banking Services |
|Bank ABC was one of the first wholesale Arab financial institutions to be set up with the aim of utilizing global capital resources to become a significant participant in the international financial markets. Bank ABC (Jordan) covers Jordan’s key corporations across various industries and these include public sector entities, private corporations and multinational companies. Corporate accounts are managed by a team of relationship managers who are fully supported by our geographically diversified global product platform. |
The objective of the relationship team is to ensure delivery on client needs in a timely and customized manner. Relationship managers also engage into discussions with our clients on their future plans and strategies and mobilize the various groups of Bank ABC to deliver on individual needs of each customer including overdrafts, corporate finance, structured finance, syndicated loans, derivatives etc. The wholesale arm of the Bank ABC Group is a market leader in trade finance, project finance, syndication and Islamic banking services.
|Overdrafts are a flexible form of borrowing intended to finance day-to-day cash flow requirements generated by normal business activity. They are not intended for the financing of long term borrowing requirements for which more appropriate credit lines are available. Repayment is made without notice through any type of credit to the overdrawn current account from normal business activities. Balances repaid can be redrawn without the need for a request from the customer to the Bank. Tenor of an overdraft is one day; maximum one year with bank approval. |
|Documentary loans (revolver facility) are used to finance imports/exports through Letters of Credit, Bills for Collection, discounted cheques and inward Letters of Credit and commercial invoices. Clients choose these type of loans with a repayment schedule that meets their needs and fulfills their financial obligations – such loans usually cover the working capital needs for trading and industrial activities. Documentary loans enable clients to improve their cash flow, seize business opportunities and gain time until their goods are cleared, manufactured or stocked.|
|Long Term Commercial Loans|
|Term Loans are a structured form of borrowing which is frequently intended for general corporate purposes and may be intended to finance specific transactions, specific assets and the funding requirements that this generates. They are intended for the financing of longer term borrowing requirements as opposed to overdrafts that are for the financing of short-term working capital requirements. |
Drawings against the loan are usually made in one amount, (but not necessarily) and once the entire loan is drawn, further drawings are not permitted even if repayments have reduced the principal amount. Therefore, the limit should be reduced as repayments are received. However, it should be noted that the loan may be phased to reflect the underlying transaction, in these instances the limit is managed in line with the drawings.
Drawings depend on the nature of underlying financing requirement of the client; at times they could be linked to specific events or milestones. Interest is charged on the outstanding balance at an agreed rate and repayment of principal may be made in instalments or by bullet repayments, according to expected cash flow and a pre-agreed schedule. Interest is charged on outstanding balances. Repayment is typically made by fixed monthly, quarterly or annual repayments dependent upon the nature of the underlying transaction, the cash flow it generates and the loan agreement.
|Our Syndications department originates, structures and distributes syndicated loans. As one of the leading syndication banks in the MENA region, we offer our clients a full range of financing solutions on a conventional and/or Islamic basis.|
Based in Bahrain, the Syndications product team provides support to relationship managers within the Bank ABC Group. The team assists with the origination and structuring of syndicated financings on behalf of government entities, financial institutions and corporate clients, as well as assisting with project and Islamic financing. The department has global responsibility for the distribution of syndicated loans and is widely-recognized as a leading participant in the MENA region’s primary and secondary loan market.
The team has an excellent understanding of the regional loan market, and has good working relationships with the leading regional and international banks operating in the Arab world. Our strengths in structuring, execution and distribution make Bank ABC the ideal partner for the lead arranger role in syndicated financings.
|Project & Structured Finance|
|Bank ABC is a market leader in specialized finance practices and offers integrated project and structured finance solutions to clients throughout the Middle East and North Africa, covering a range of key industries including: Petrochemicals; Oil & gas; Power and water; Renewable energy; Mining & metals; Infrastructure; Shipping; Aviation and Telecommunications. Also, Bank ABC is well-positioned to provide financing and advisory services to governments and private institutions for transactions involving the MENA region. The Bank has extensive expertise in structuring, arranging, and syndicating complex transactions along with providing financial advisory services for investments in the Middle East and North Africa. A comprehensive product range is offered to our customers, including:|
The specialized team’s transaction experience and regional knowledge, combined with the Bank’s wide network of offices in five continents, enable clients to receive highly effective solutions for financing their mega projects.
- Financial advisory (debt and equity), structuring and arrangement services.
- Limited/non-recourse cash flow based financing of green/brownfield projects.
- Hybrid, subordinated, quasi-debt facilities.
- Structured, asset-backed, acquisition/leverage and reserve based finance.
|Transaction Banking Unit|
|Bank ABC leverages its global footprint and extensive expertise of regional and local markets to offer transactional banking services in Jordan which encompasses trade finance and cash management solutions for Corporates.|
|Bank ABC is positioned to empower the companies to be increasingly efficient and more competitive in today’s challenging and changing business environment. Therefore, our business is not trying to reinvent the way our customers do business. Instead, we are complimenting their existing processes by helping them manage their operating cash flows more efficiently, with greater security, at a lower cost.|
Bank ABC introduces innovative products and services to cater to corporate clients’ transaction banking needs. The localized expertise available throughout the bank’s global network ensures that clients’ requirements are met. Our solutions offer the flexibility, operational efficiency and streamlined processes that make corporate business dealings easier to undertake and faster to perfume, locally and across borders.
We provide our corporate clients a multitude pf products and services to carry out transactions:
- Cash and Liquidity Management
- Payments Solutions
- Account Services
- Collection and Reconciliation Solutions
- Payroll Services
- Trade Finance Products and Services
Furthermore, the presence of the World Bank and its network of branches spread across the Middle East and North Africa allows us to provide various banking services to many of our clients from financial institutions.
Benefits for your business:
- Establish efficient operating account structures
- Speed up collection cycle through cash, cheques, and inward remittances
- Maximize returns on surplus cash
- Reduce administrative and transaction costs through lower payment fees
- Have total control over cash flows through real-time reporting on electronic channels
|Trade Finance Services|
|Bank ABC- Jordan is uniquely positioned to empower their customers to be increasingly efficient and more competitive in today’s challenging, and ever-changing business environment. |
The extensive corporate banking experience; reinvestment in technology, innovative products, global presence and staff expertise have earned the bank a distinct place among competitors in trade finance solutions.
Bank ABC Trade Finance offers fast, efficient, reliable and comprehensive solutions along the client’s trade value chain by combining international trade risk mitigation products and services with custom-made solutions for structured trade and export finance by understanding our clients’ business and recommending the best trade structures through our experienced staff.
Our product offerings extend between traditional trade products to structured trade and export finance, and includes:
1. Letters of Credit (LCs)
2. Documentary Collections (D/Cs)
- Irrevocable Unconfirmed LC
- Irrevocable Confirmed LC
- Revolving LC (Automatic, Non Automatic, Cumulative, Non- Cumulative)
- Payment / Sight LC
- Acceptance LC
- Deferred Payment LC
- Negotiation LC
- Standby LC
- Transferable LC
- Back to Back LC
3. Letter of Guarantees
- Documents Against Payment.
- Documents Against Acceptance.
- Documents Against Avalization.
4. Trade Loans
- Bid Bond.
- Performance Bond.
- Advance Payment Guarantee.
- Retention Bond.
- Maintenance Guarantee.
- Payment Guarantee.
- Warranty Bond.
5. Post-Import Finance
6. Pre-Export Finance
| ABC Digital Banking|
|ABC Digital, online banking service is a powerful new way to bank that puts some banking functions in one place – at the client’s fingertips and within reach of the company’s entire organization. It is designed to assist our valued clients in their day-to-day account activities by providing comprehensive information delivered in a cost-efficient manner to enhance cash flows and payments across all accounts within their company or group of companies around the world.
ABC Digital banking is an innovative and client friendly digital banking service, tailored to meet the financial needs with some limitations and cutoff times in financial transaction and from any location.
It enables users to access Bank ABC accounts, transfer funds, manage loans and view trade finance activity in addition to other services in one of the fastest and safest digital banking environments available through a secure computer, tablet or mobile device of the client choice with Internet access.
Bank ABC offers a set of products that meets companies’ current needs and helps benefit from the efficiencies and gain competitive advantages.
Through ABC Digital, Corporates will benefit from the following services;
It is worth noting that the bank is seeking, in cooperation with the parent institution in Bahrain, to launch a new state of art digital banking platform for corporate clients next year 2021 in order to keep pace with the rapid progress in the world of electronic payments and global e-commerce solutions, which includes among its priorities immediate payment solutions in addition to electronic solutions to finance the supply chain and several other solutions in the world of cash management, liquidity and trade finance.
- Real time accounts and transactions viewing online
- Manage accounts and Real time account information downloads
- Views accounts transactions history with flexible search and filtering tool
- Transfer funds online ( local and international transfers)
- Entitlements engine for executing and approving and funds transfers
- View trade finance related information
- Monitor term and revolving loans
- Facility to print advices from the transaction history
- Save funds transfers for execution at a later time
- Make payments through e-FAWATEERcom
- Salary payment service
- Ability to upload bulk payment files
- Multi entity accounts
- Request for a bank draft
- Request to stop Cheque
- Request to Cheque book
|The Financial Institutions Coverage Department|
|The responsibilities of Financial Institutions Coverage Department at Bank ABC Jordan revolve around meeting the varying requirements of financial institutions through ABCJ local branches, ABC Group international branches and network of over 400 correspondent banks covering over 69 countries. |
The Department seeks to facilitate international banking operations by offering a wide spectrum of financial services at competitive rates; focusing on fostering its existing relationships with key correspondent banks, in addition to initiating new correspondent relationships with strategic financial institutions in the region and worldwide. In addition, the department reviews all outstanding relationships and diligently follow up on Banks’ financial performance and countries’ economic conditions, taking notes of any adverse changes and appropriately following procedures to respond to such changes.
| Small and Medium enterprises (SMEs)|
| Believing in the importance of the SME sector and their role in supporting the advancement of the economy through job creation and creative solutions, Bank ABC Jordan provides integrated financial solutions that cater to the needs of SMEs. Through a specialized team of qualified individuals with appropriate expertise in understanding the financial needs of SMEs, Bank ABC Jordan extends an array of SME financing products including:|
- Renewable Energy Financing
- Industrials Loans
- Production Loans
- Point of Sale Financing
- Women-specific Financing
- Early Stage Project Financing
|Bank ABC Jordan holds its Annual General Meeting via Video Conference|
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