ADVERTISEMENT
Press release content from News Direct Corporation. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from News Direct Corporation
Press release content from News Direct Corporation. The AP news staff was not involved in its creation.

CBiBank joins forces with Asia Business Center to expand its services on the global market

August 29, 2022 GMT
None
None
None
1 of 2
None
1 of 2
None

--News Direct--

CBiBank, an emerging commercial bank based in the United States, has forged a partnership with Asia Business Center (Asia BC) to provide more services to multinational companies and individuals. The move signals a continued acceleration of the bank’s business expansion, amidst slowing trade growth and tightening of macro-economic policies across the globe.

The United Nations Conference on Trade and Development released the latest “Global Trade Update” report in July. Highlighted in the report, global trade value rose to US$7.7 trillion in the first quarter of 2022, an increase of about US$1 trillion from the first quarter of 2021.

As a result of the ongoing Covid epidemic and geopolitical friction and conflict, while there has been an upward trend in total global trade value, growth rates have been declining. Global economic growth has slowed as major economies tighten macro policies in response to the sharp deterioration of the Russian and Ukrainian situations and high inflation. Forecasts show global trade will continue to decline in the second quarter of 2022 as base levels rise and external demand growth slows.

ADVERTISEMENT

Under the current market climate, the requirements have been raised for all types of enterprises engaged in international trade services. The challenge of overcoming the difficulties facing all parties, while promoting the continued healthy development of the international trade market has emerged as a new priority.

As signified in its collaboration with Asia BC, CBiBank, has closely followed the wave of economic globalization, and has actively adapted in the face of different situations, to continue providing one-stop cross-border financial solutions for global trade customers.

Asia Business Center is a Hong Kong-based professional corporate services provider supporting small and medium-sized enterprises (SMEs) and investors in conducting global business. Over the past 14 years, Asia BC has specialized in registering and setting up businesses in Hong Kong, Singapore, Philippines, Estonia, and Turkey, opening corporate and personal bank accounts, and conducting financial management, accounting, tax planning, immigration, and compliance frameworks for small companies, corporations and individuals. As the founder of Asia BC, Raymond K.W. Wong has a wealth of knowledge and expertise in the banking and finance field, and provides expert advice on business registration, incorporation, taxation, and office space solutions. The Singapore branch officially commenced operations in 2019, enhancing the quality of local service in the country.

ADVERTISEMENT

CBiBank i s a member of several financial institutions including the American Bankers Association (ABA), Society for Worldwide Interbank Financial Telecommunication (SWIFT), UnionPay International (UNIONPAY), Cross-border RMB Clearing (CIPS. Focusing on building inclusive financial services through its “technology + services” system, The bank provides one-stop cross-border financial services for global trading companies, including the opening of offshore accounts, transfer and remittance, e-commerce collection, and corporate wealth management.

ADVERTISEMENT

In a statement, Mr. Wong, of Asia BC, asserted, “we will use the advantages of both parties to enhance the service experience of customers worldwide and optimize corporate services solutions.” Sam Su, chairman of CBiBank, also has high hopes for this cooperation, stating that, “By leveraging technological and financial innovations, CBiBank has helped tens of thousands of small and medium-sized trading enterprises better compete internationally. Furthermore, CBiBank emphasizes the importance of collaborating with global enterprise service providers, to make better use of each other’s resources for a better customer experience.”

Contact Details

Tim Brown

tim198515@gmail.com

Company Website

https://www.cbibank.com/

View source version on newsdirect.com: https://newsdirect.com/news/cbibank-joins-forces-with-asia-business-center-to-expand-its-services-on-the-global-market-575274236