Page 22 - Annual Report 2022

TREASURY AND FINANCIAL INSTITUTIONS GROUP

During 2022, Treasury and Financial
Institutions Group opened two new channels
in USD and EUR to help intermediate
customers with their payments. We led
a new foreign trade strategy to increase
the market share of BKT by implementing
different products, a new approach, and new
marketing strategies in cooperation with the
Business Marketing Department. Treasury
and Financial Institutions Group completed
the Trade Loan product (Buyers’ Credit) to
finance Letter of Credit transactions to direct
the bank’s liquidity to new channels. We also
launched the Irrevocable Reimbursement
Undertaking (IRU) to assist counterparties
who may need a cover for Letter of Credit
transactions. Treasury and Financial
Institutions Group also organized several
business workshops and represented BKT in
Austria, Switzerland, Netherlands, Germany,
and Turkey to promote the bank’s expertise
in trade finance, treasury and correspondent
banking. TFIG also opened new FX Swap
lines at new counterparties in Europe for the
bank’s liquidity needs. We are now looking
for new investment channels to place BKT’s
liquidity through bilateral relationships. TFIG is
considering providing correspondent account
services in ALL, EUR, and USD to different
counterparties in different countries.