Finance professionals gather at CBI’s Annual Treasury Seminar
Wednesday, November 21, 2012
Commercial Bank International (CBI) hosted its Annual Treasury Seminar inviting elite corporate and treasury clients from across the UAE to learn about the bank’s innovative approach to hedging and risk management in the currency markets, including their movement into facilitating foreign exchange in the Chinese market.
The seminar also provided a platform for CBI to update clients on its growth and continued success. “We are building on our results quarter on quarter. Earnings per share have increased by 60% since Q2 and share value has quadrupled to AED 0.16 from the share value recorded during the same period last year” commented Chief Executive Officer, Kris Babicci. “We are pleased to present a first class Treasury Seminar to our corporate and Treasury clients”, he added
A combination of Chief Executive Officers, Chief Operating Officers, General Managers and Chief Financial Officers from across the UAE gathered at the seminar, held at the Ritz Carlton, DIFC, to learn from CBI’s Treasury professionals about CBI’s strategy of tackling the key issues facing corporate treasurers, risk managers and corporate finance professionals operating in the GCC region.
Conducted by CBI’s experienced Treasury team, and reinforced by CBI’s Corporate Banking Group, finance professionals were presented with market updates and subsequent innovative risk management ideas offered by CBI to accommodate market demands. “In the coming year, CBI Treasury will work closely with clients to identify their market risks, and provide tailor-made risk management solutions. Our objective will be to enable clients to conduct their regular day-to-day business unconcerned by market volatility.” commented Wayne Andrews, Head of Treasury and Investments at CBI.
The seminar also provided an opportunity to update CBI’s clients on new initiatives in the Chinese market, including the ability to conduct business in the Chinese currency itself, the renminbi (RMB). Kishore Wagh, a Senior Manager from CBI’s Treasury Risk Advisory team who is leading the bank’s expansion into the Chinese market, commented: “Companies across China are increasingly likely to do business with companies who can settle in RMB. CBI’s ability to support the development of such business makes us the ideal partner for UAE firms wanting to take advantage of this opportunity”.
The CBI Annual Treasury seminar marks the beginning of many client based events to come.