Massimiliano Piunti, Director of Trade Finance at CFE Finance Group, comments on the Group’s Trade Finance position in world markets
Massimiliano Piunti
The collapse of Singapore’s Hin Leong left creditors, including HSBC and ABN Amro, with $3.5 billion in liabilities, causing major players to exit the CTF market. Zambia’s bond default and issues with Chinese creditors also deepened the crisis, despite mechanisms like the Debt Service Suspension Initiative.
As large banks like BNP Paribas withdrew, CFE Finance Group remained in the market, gaining opportunities to secure deals. CFE Finance Group now benefits from reduced competition, enabling them to selectively pursue profitable deals. Despite the risks, they continue to provide liquidity in this challenging environment.
Fundtruffle, 25 February 2021
