Regions Bank has become just one in ten of the recipients of the 2024 President's "E" Award for export service in recognition of the bank's work to provide financing solutions for corporate banking clients that collectively increase US exports.

Letters of credit (L/Cs) feature prominently in the bank's suite of trade finance offerings which first helped the bank trading then under the name of the Merchants National Bank of Mobile win the same award in 1968.

Initially created during World War II to recognise excellence in war production and repurposed by President John F Kennedy in 1961, the award is the highest recognition a person or US entity can receive for making a significant contribution to the expansion of American exports

Performance Solutions

Regions provides a diverse suite of modern global trade finance options for clients, including performance solutions designed to help develop and expand a company's global customer base and negotiate international contracts while minimising financial risks.

Through various standby L/C services, business owners can support regular supply contracts with foreign buyers and be covered for those goods in the event the buyer defaults on payment.

Foreign business solutions

The bank's foreign business solutions help international companies receive goods and services from US-based companies by providing financing for purchases.

Through the use of bankers acceptance, foreign companies receive an L/C for a specified time period.

Working capital and treasury management

Treasury management solutions are designed to help improve cash flow, strategically manage liquidity, streamline payables and mitigate unnecessary risk exposure. Payments can be streamlined for overseas transactions by using Regions' connections with banks around the world to collect and process payments from foreign financial institutions.

Working capital solutions meanwhile support the growth of international sales by financing the exporting of products while maintaining working capital availability.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.