SeABank helps importers
SeABank has launched a Letter of Credit Usance Paid at Sight (L/C UPAS) to help importers receive goods as soon as possible. SeABank will pay for the goods on behalf of importers, while importers can have maximum 180 days to prepare cashflows and proceed payments to SeABank.
SeABank’s customers will have to pay the interest rate of 3.5 per cent per year only on the loans to pay for exporters and SeABank will support customers with foreign currencies to pay for L/C UPAS and the level of required deposit is low and flexible.
The 3.5 per cent interest rate is much lower than the 11-15 per cent on the market if importers choose to borrow a normal loan, thus L/C UPAS is considered an optimal financial solution for importing enterprises.
France’s top-tier retail bank Société Générale, which holds a 20 per cent stake of SeABank, is SeABank’s sole foreign strategic partner.
In 2012, SeABank was classified as a group 1 bank which was granted a credit growth of 17 per cent for good and safe financial health.
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