International Merchant Bank Limited (IMBL) Establishes Correspondent Banking Relationship with Metropolitan Commercial Bank (MCB)
A Correspondent Banking relationship has recently been established between Metropolitan Commercial Bank (MCB). A New York State chartered commercial bank in the United States of America, and International Merchant Bank Limited (IMBL). A licensed and regulated international bank based in St. Kitts and Nevis. The relationship will last at least five years. By offering IMBL's clients faster, more services, and extending the number of transaction channels. This collaboration seeks to improve international payment and settlement-related transactions.
The Importance of Correspondent Banking in the Global Economy:
The development and progress of nations rely on mutual reliance and cooperation. The increasing interdependence between countries has resulted in a demand for international trade. Banks and financial institutions are involved in meeting this increasing demand by enhancing their capabilities. To ease international payments through correspondent banking. IMBL gains valuable access to a trusted and innovative strategic partner by joining forces with MCB. This partnership combines the personalized service of a community bank with the comprehensive financial solutions offered by larger institutions.
IMBL's CEO on the Correspondent Banking Relationship:
Dhwani Srivastava, CEO of International Merchant Bank Limited, expressed excitement about the recent partnership with Metropolitan Commercial Bank. Srivastava described the collaboration as a milestone that will enhance IMBL's ability to serve clients. With enhanced speed and efficiency for international payment and settlement transactions. Most payments are expected to settle within the same day or 24 hours. Srivastava believes that this strategic relationship will pave the way for significant business growth for IMBL.
Introduction to Metropolitan Commercial Bank (MCB):
MCB, a subsidiary of Metropolitan Bank Holding Corp. (NYSE: MCB), was established in 1999. The New York metropolitan area's small and middle-market businesses, government organizations, and affluent individuals are the focus of MCB, which offers a wide range of banking products and services. As a commercial bank with New York State charter status, MCB prioritizes serving customers' needs and seizing business opportunities in a fast-paced industry.
Recognition and Achievements of MCB:
MCBC has received recognition from the banking industry for its commitment to excellence. S& P Global Market Intelligence placed the bank among the top ten in its 2022 rankings. an annual listing of the top community banks with $3 billion to $10 billion in assets. Additionally, it was a top-performing community bank in the Northeast. MCB is a member of the Piper Sandler Sm- All Stars Class of 2022. MCD is a company that operates within the Federal Reserve System and is a member of the Federal Deposit Insurance Corporation.
MCB's EVP on the Collaboration:
Executive vice president and head of the bank's global payments division Nick Rosenberg. He took great pride in showcasing the Global Payments Group at MCB's superior skill, talent, and methodical approach. Rosenberg sees their partnership as successful as they work together with IMBL.
About International Merchant Bank Limited (IMBL):
IMBL, headquartered in St. Kitts and Nevis, aims to become the bank of choice for individual and corporate clients worldwide. With a team boasting decades of experience in banking and trade finance. IMBL's client offerings reflect its core strengths and dedication to the banking industry. IMBL is committed to setting high standards and fulfilling its commitments for a better future.
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