BRD, DECLARED "BEST TRADE FINANCE PROVIDER IN ROMANIA" BY AMERICAN MAGAZINE GLOBAL FINANCE

Press release

Bucharest, January 29, 2024

BRD Groupe Société Générale received the "Best Trade Finance Provider" award from American magazine Global Finance, in the framework of annual competition "The World's Best Trade Finance Providers 2024", which designates the best providers of trade finance services and products from over 100 countries and territories.

Global Finance editors selected the winners based on rigorous criteria, which include transaction volume, diversity and scope of services, their quality, price competitiveness and technological innovation. The assessment was based on ratings given by industry analysts, company CEOs and technology experts.

The distinction confirms BRD's commitment to providing high-quality trade finance services, covering both the classic offer - letters of credit or letters of guarantee and collection, as well as innovative and customized solutions. 

FINTRA's solution, in particular, stands out for its flexibility, being based on the irrevocable commitment to pay on time through a documentary letter of credit issued by BRD. It contributes significantly to reducing the financing gap between partners, thus facilitating the maintenance of trade commitments. The combination of factoring solutions and currency risk coverage provides companies with security in key partnerships, cash flow optimization, predictability and sustainable development of collaborations.

The appreciation and constant appetite of customers for FINTRA have consolidated BRD's position as a market leader in terms of the number of import letters of credit in the last six years. As an indicator of success, the volume of import letters of credit increased by 45% in 2023, compared to the previous year.

The "Global Finance" award for trade finance activity is in addition to the distinctions obtained by BRD in factoring. According to the latest data available at the level  of Factors Chain International, BRD ranks 11^th in the world in the category "Best Import and Export Factor" (out of about 400 factors from over 90 countries around the world) and holds a quarter of the Romanian factoring market.

"This Best Trade Finance Provider award honors us and also reflects BRD's commitment to excellence, as well as our contribution to the development and growth of the Romanian economy. I am proud that our Global Transaction Banking teams manage, year after year, to maintain a very high level of service and I thank our customers - whether they are large corporations or SMEs - for the constant trust they place in us", said Maria Rousseva, CEO of BRD Groupe Société Générale.

Specializing in banking and financial markets, Global Finance magazine was founded in 1987 in New York and has over 50,000 readers in 193 countries. The Global Finance Awards recognise the best performing financial institutions in different regions of the world.

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About BRD Groupe Société Générale 

BRD Groupe Société Générale operates a network of 432 units. The bank's total assets reached RON 77 billion at the end of September 2023. 

BRD is part of the Société Générale group, one of the largest European financial services groups. The Group has 117,000 employees in 60 countries and 25 million customers worldwide, in three key activities:

•               Retail banking in France 

•               International Retail Banking, Insurance & Financial Services 

•               Global Banking & Investor Solutions 

Media contact: Traian Traicu_021 301 61 50_traian.traicu@brd.ro