RESULTS AND FURTHER READING
Francesca Nenci, global head of trade and correspondent banking at UniCredit, suggests 2022 should not be viewed as a ‘normal’ year because corporates were still strongly impacted by the pandemic.
“Naturally it took a little bit of time to understand the final impact of the pandemic on credit deterioration for corporates, so the increase seen in 2023 is more a return to previous levels,” she says.
Aggregate demand for trade was strong last year, but funded trade limits did not necessarily increase, according to Vivek Ramachandran, global head of global trade and receivables finance at HSBC.
“We like trade because it is an asset class that gives us visibility into use of funds, and we only do trade finance with existing clients,” he says.
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