Titan Trust Bank Limited, one of the newest entrants into the Nigerian banking industry, at the weekend, emerged ‘Best Trade Finance Provider in Nigeria for the year 2020’ in the recently released Global Finance Magazine World’s Best Trade Finance Providers Awards.
The lender clinched the coveted influential international award previously won by only the first-tier banks in Nigeria in just 15 months of its commercial operations.
According to the organisers of the prestigious annual awards, Global Finance Magazine, New York, the awards were created to recognize top performers among banks and other providers of financial services in prominent areas of expertise and excellence.
For the 2020 Trade Finance Providers awards, the organisers added that winners were chosen in more than 102 countries across Africa, Asia-Pacific, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe.
In selecting its recipients, Global Finance Magazine’s principle was hinged both on quantitative and qualitative data, to honour institutions that have brought the highest levels of service, innovation and expertise to their customers.
“The editorial review board of Global Finance selected the best trade finance providers based on entries from banks and other providers, as well as input from industry analysts, corporate executives and technology experts. Criteria for choosing the winners included: transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies,” a statement by the organisers said.
Joseph D. Giarraputo, publisher and editorial director of Global Finance Magazine, New York noted: “The Trade Finance sector was hit particularly hard by the fallout from the COVID-19 pandemic, and providers were forced to respond and adapt to the unforeseen challenges it presented.
“The winners of the 2020 Annual Trade Finance awards are institutions that responded to the unprecedented landscape of the year with new technologies and improved capabilities that helped their clients succeed.”
Commenting on the recognition, Mudassir Amray, Managing Director and Chief Executive Officer of Titan Trust Bank Limited, said: “The news of the award is overwhelming. We are truly humbled and are grateful to our customers for their unwavering support and trust in us.
“At the heart of the bank are our people, without which this achievement would not have been possible.
“The award is also an endorsement of our professional board and well diversified and experienced management team,” Amray noted.
The bank’s chief added that despite the rage of the coronavirus (COVID-19) pandemic, the lender has continued to blaze the trail by delivering superior, convenience and innovative banking solutions to its customers through technology.
“Nigeria is going through a tough time due to the impact of the COVID-19 pandemic coupled with the fall in oil prices.
“Hence, Titan Trust Bank has had to face a business terrain that has been hit with the onslaught of a global pandemic.
“Despite the odds, the bank has become adept at providing tailored trade finance solutions to meet the needs of its customers.
“In an industry that is fiercely dominated by banks that have been in existence for decades, Titan Trust bank has been able to establish a formidable market presence in just under a year,” he said.
Titan Trust Bank was established on the 12th of December 2018 and commenced operations on Oct 4th, 2019.