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Associated Press
a day ago
- Business
- Associated Press
Fifth Third Again Named Best Treasury and Cash Management Bank by Global Finance
CINCINNATI, July 22, 2025 /3BL/ - Fifth Third (NASDAQ: FITB) was again named Best Treasury and Cash Management Bank (US, Regional) by Global Finance magazine for 2025. This makes Fifth Third a two-time honoree in the Midwest region, and this year, Fifth Third was also recognized in the Southeast region. The award was announced by Global Finance as part of its 25th annual Best Treasury and Cash Management Banks Award program. 'Receiving the award for Best Treasury and Cash Management Bank two years in a row is an honor, but it's not just about the recognition—it's about the confidence our clients have in us and the progress we're making together,' said Bridgit Chayt, head of commercial payments. 'This award reinforces our commitment to innovation and dedication to serving our customers with solutions that support their growth, simplify their operations and launch new possibilities.'' Global Finance uses a multi-tiered assessment process—which included entries from banks and providers and input from industry analysts, corporate executives, technology experts and independent research—to select the best providers of treasury and cash management services. A variety of subjective and objective criteria were considered, including profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management providers have successfully differentiated themselves from their competitors around core service provision. Winners were chosen in more than 70 countries, territories and districts, as well as regionally across multiple categories in eight countries and in six US Regions. About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol 'FITB.' Investor information and press releases can be viewed at # # # CONTACT Adrienne Gutbier (Media Relations) [email protected] | 513-534-8038 Matt Curoe (Investor Relations) [email protected] | 513-534-2345 Visit 3BL Media to see more multimedia and stories from Fifth Third Bancorp
bnok24
22-06-2025
- Business
- bnok24
Emirates NBD Egypt Wins the Prestigious 'Best Bank for Cash Management - North Africa 2025' Award from The Digital Banker
Emirates NBD Egypt has proudly awarded the title of 'Best Bank for Cash Management – North Africa 2025' by The Digital Banker a global recognized publication that honors excellence in financial services and digital banking innovation. This prestigious recognition reinforces the bank's ongoing commitment to delivering advanced, customer-centric cash management solutions. It also aligns with the bank's strategy to expand its presence in the Egyptian market by offering integrated, innovation-driven banking services, backed by extensive local and regional expertise This distinguished award underscores the bank's continued efforts in offering seamless, technology-driven cash management services designed to meet corporate clients' dynamic needs, through Emirates NBD cutting edge digital platform 'businessONLINE' that is designed to help corporate customers to manage their cash and liquidity in a secured and most efficient way. In this context, Amr El Shafei, CEO and Managing Director of Emirates NBD Egypt, stated: 'We are honored to receive this esteemed award, which stands as a true testament to the effectiveness of our strategy and our pivotal role in supporting corporate growth across Egypt and the region. Our ambitious strategy and continued investment in digital transformation have enabled us to create real value for our customers and stay ahead of rapid changes in the financial sector.' He added: 'At Emirates NBD Egypt, we remain focused on driving further growth by accelerating digital transformation and offering smart cash management solutions tailored for corporates, reaffirming our leadership in the Egyptian banking sector and our position as a trusted financial partner'. Tamer Ragheb, Head of Corporate and Institutional Banking at Emirates NBD Egypt, commented: 'This recognition is a testament to the dedication of our teams and our deep understanding of evolving business needs. At Emirates NBD Egypt, we take pride in delivering smart, integrated financial solutions that drive our corporate customers' business growth and financial stability. By working closely with our customers, we provide strategic, tailor-made financing models that empower their ambitions and help them achieve long-term, sustainable development impact.' In addition to this accolade, Emirates NBD Egypt received an additional award recognizing its excellence in digital transformation, the 'Outstanding Digital CX – Mobile Banking – Egypt' award, from The Digital Banker. This honor highlights the bank's ongoing efforts to deliver a smooth and secured mobile banking experience through its mobile application, driven by continued investments in technology infrastructure and enhanced digital capabilities to meet evolving customer expectations and ensure seamless banking services. These achievements are underpinned by the bank's strong financial performance in 2024, during which the bank recorded an exceptional 64% growth in net profit, reaching EGP 5.3 billion. Additionally, net trading income recorded a remarkable growth of 192% compared to the previous year, demonstrating the bank's resilience and operational efficiency in delivering robust financial performance. Building on this success, the bank maintained its positive momentum in the first quarter of 2025, achieving EGP 1.4 billion in net profit, compared to EGP 1.1 billion in the same period of 2024, marking a 31% increase. Net interest income also rose by 16% to reach EGP 3 billion, compared to EGP 2.6 billion in Q1 2024, a testament to the bank's consistent and sustainable performance in Egypt's banking landscape. Since entering the Egyptian market in 2013, Emirates NBD Egypt has firmly established itself as a trusted financial partner, leveraging its deep regional expertise and a forward-thinking strategy to drive economic growth. The bank offers an integrated suite of financial services tailored to meet the evolving needs of businesses in line with emerging industry trends. As of March 2025, the bank operates a robust network of 62 branches and approximately 338 ATMs across the country, ensuring accessibility to customers nationwide. As the financial sector continues to evolve, Emirates NBD Egypt remains steadfast in its mission to deliver innovative solutions that create tangible and positive impact for its customers, reaffirming its pivotal role as a leading banking institution actively contributing to Egypt's Vision 2030 and sustainable economic growth. Google News تابعونا على تابعونا على تطبيق نبض
Business Standard
18-06-2025
- Business
- Business Standard
KredX's TReDS Platform - DTX and SBI Forge Partnership to Boost Digital Supply Chain Financing in India
NewsVoir Bengaluru (Karnataka) [India], June 18: KredX, India's leading integrated cash flow and supply chain finance platform, has announced a strategic partnership with the State Bank of India (SBI). This collaboration aims to expand access to digital trade receivable discounting through its RBI-licensed TReDS platform, Domestic Trade Exchange (DTX). SBI's participation on the KredX DTX platform marks a meaningful step toward building smarter, faster, and more inclusive supply chain finance networks. By combining SBI's scale with KredX's technology-first infrastructure, the partnership enhances working capital access to MSME suppliers across all sectors and scales, enabling greater agility, transparency, and efficiency across the value chain. Manish Kumar, Founder and CEO, KredX, said, "We're delighted to welcome SBI as a financing partner on KredX's technology-first TReDS platform, DTX. As one of India's most trusted financial institutions, SBI brings unmatched scale and credibility to our expanding ecosystem. This partnership marks a strong step forward in our mission to digitise and democratise trade finance by using AI-led, real-time solutions to help enterprise buyers and their MSME partners unlock liquidity when and where they need it at the click of a button." KredX's DTX platform, approved under the RBI's TReDS framework, goes beyond traditional lending by offering a digital-first solution for end-to-end trade finance. Connected to 50+ financiers and designed to enable bidding on trade receivables, DTX offers businesses access to the lowest cost of finance, an intuitive user experience, and seamless execution. DTX also enables suppliers to access working capital instantly, while allowing buyers to optimise cash flows and build more resilient supply chains. By integrating intelligent automation, real-time processing, and intuitive workflows, DTX ensures a frictionless experience for buyers, sellers, and financiers alike. As India's leading integrated supply chain finance provider, KredX offers a comprehensive suite of solutions including early payments, accounts payable and receivable financing, and cash flow automation. These capabilities empower businesses to unlock working capital, drive operational efficiency, and maintain compliance across processes. KredX continues to expand its partner network of banks, NBFCs, and financial institutions to strengthen India's digital supply chain infrastructure and improve access to capital across the ecosystem. KredX is India's leading integrated supply chain finance provider, enabling businesses to unlock working capital and optimise cash flows through a full stack of digital finance solutions for modern supply chains. With platforms like DTX (Domestic Trade Exchange), GTX (Global Trade Exchange), and CMS (AI-powered Cash Management Solutions), KredX has onboarded 3,000+ enterprises and enabled over 100,000 MSMEs to access timely working capital. The company has processed more than Rs. 550 billion in invoices. Backed by marquee investors including Tiger Global, Sequoia Capital India, and Prime Venture Partners, KredX is at the forefront of building future-ready, tech-led financial infrastructure for B2B supply chain ecosystems. State Bank of India (SBI) is India's largest public sector bank, serving over 50 crore customers through a vast network of branches and ATMs across the country. With a legacy of over 200 years, SBI offers a comprehensive suite of banking and financial services and maintains a global presence through 240+ offices in 29 countries.
Zawya
26-05-2025
- Business
- Zawya
MoF receives Sharjah Public Finance Award for excellence in cash management and financial services
Younis Haji AlKhoori: The Sharjah Award for Public Finance is a well-deserved recognition of the Ministry of Finance's efforts in developing the government's financial work system. Abu Dhabi: The Ministry of Finance (MoF) has been honoured with the Sharjah Award for Public Finance, winning the category of 'Institution Distinguished in Cash Management, Sovereign Funds, and Banking Financial Services' at the third edition of the award (2024-2025). This accolade reaffirms the ministry's commitment to institutional excellence and innovation in upgrading its financial system while achieving the highest standards of efficiency in managing public finances. Amna Hassan Al Shamsi, Director of Financial Policies and Government Accounting Standards at the Ministry of Finance, also won second place in the category of 'Outstanding Arab Financial Manager, Outstanding Arab Budget Manager', honouring her significant contributions to developing financial policies and enhancing government performance efficiency. These achievements come in recognition of the Ministry's commitment to delivering efficient financial services and continuously adopting international best practices to improve government financial policies, optimise resource management, and ensure financial sustainability, key pillars supporting the UAE's comprehensive development goals. The award was received on behalf of the Ministry of Finance by Her Excellency Mariam Mohammed Hassan Al Amiri, Assistant Undersecretary of Government Finance Management at the Ministry of Finance. Well-deserved recognition H.E. Younis Haji AlKhoori stated, "This recognition from the Sharjah Award for Public Finance is a testament to the Ministry of Finance's ongoing efforts to enhance the government's financial system. It also reflects the effectiveness of the policies and initiatives we have implemented to promote efficiency, transparency, and sustainability in the management of public finances.' 'Over the past years, we have focused our efforts on strengthening financial legislation, improving spending efficiency, and adopting global best practices in financial planning and budgeting, in coordination with federal entities to drive the UAE's strategic economic and fiscal objectives to the next level," Al AlKhoori said. He added:"We deeply value this honour, which embodies the spirit of teamwork and institutional collaboration within the Ministry. It is also a strong motivation, inspiring us to continue strengthening our capabilities and readiness to respond to worldwide changes, thereby reinforcing the UAE's role as an influential leader in public financial management at the regional and global levels.' Promoting a culture of excellence The Sharjah Award for Public Finance was established in 2016 in collaboration with the Arab Administrative Development Organisation, inspired by the vision of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah. The award aims to promote best practices in public financial management and foster a culture of excellence and quality in government work across the Arab world. Organised by the Sharjah Finance Department, the third edition of the award was announced last August as part of ongoing efforts to encourage government entities, private sector organisations, and individuals to adopt effective and sustainable financial governance practices. The award features 11 categories for individuals and 11 for organisations, aiming to foster competitiveness and promote a culture of excellence across diverse areas of financial management.
