Insight & Analysis

Press release: Deutsche Bank becomes first international bank to sign MoU with Sinosure for export guarantee business

Published: Mar 2018

Deutsche Bank is the first international bank to have this type of agreement in place. As part of this MoU, Deutsche Bank and Sinosure will collaborate to identify new opportunities, streamline information flow and approval processes, provide best effort pricing and collaborate on risk management. The Sinosure guarantee can significantly improve the credit worthiness of a transaction and as a result, reduce dramatically the overall financing cost for companies.

China Export & Credit Insurance Corporation, also known as Sinosure, is a state-funded policy-oriented insurance company. Through its insurance services, the company supports foreign trade and investment, thereby helping to promote economic growth, employment and the equilibrium of international payments.

Deutsche Bank signed a general MoU with Sinosure in 2009 to start business cooperation and has since partnered with them on both short-term and mid to long-term financing transactions. For the guarantee business, Deutsche Bank has closed the most number of deals of all international banks to date with total financing amount reaching USD1bn.

Evert-Jan Zondag, APAC Head of Structured and Export Trade Finance at Deutsche Bank, said: “We are delighted to expand our cooperation with Sinosure. This marks another important milestone in our relationship, and will unlock future business potential.”

Deutsche Bank’s teams of experts work closely with Export Credit Agencies (ECAs). The advantages of an ECA covered transaction include availability of funding in situations where stand-alone financing would not be feasible; relative long repayment periods, including a grace period; security of payments for suppliers; significant country risk mitigation; and standardised documentation processes.

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