Financial services are desired equally by both individuals and businesses but they are most demanded by small and medium enterprises. City Bank provides a range of financial services which cater individuals, businesses and investors. Financing facilities offered by the bank include loans for individual clients and for businesses also. Businesses can avail lease financing for their capital machinery, vehicles, heavy equipments, medical equipments, air conditioners, electronics, building and other expensive consumer durables.
SME banking is basically categorized into four broad categories of banking service which are mentioned below:
1. Cash Management.
2. FX/Treasury services.
3. Trade finance and working capital.
4. Loans and mortgages.
Let’s take a look at what the cash management exactly does for SMEs at City Bank. The bank offers current and savings accounts for SMEs for placement of funds and interest bearings on them. SMEs are also offered with high yield time deposits whereby businesses can earn high profits on their business savings. Remittances and bank drafts are processed in a span of seconds to ensure smooth execution of transactions of SMEs. The rest of the facilities include the traditional banking services of ATM facility, phone banking, cash and cheque deposit machines and much more. The City’s FX/ Treasury services and solutions are designed to help minimise your foreign exchange risks and it offers competitive rates for a wide range of foreign currencies. You must be wondering how the bank helps minimise your company’s foreign exchange risk. Well here’s how it goes about it, by:
• Booking a deal to set the exchange rate.
• Invoicing receivable in your own currency.
• Taking out loans in foreign currencies to pay your invoices.
• Opening a foreign currency account for your company to make and receive payments.
Trade finance and working capital managecment by City Bank help trading business at your SME more effective. The bank provides a wide range of import services, including letters of credit, shipment guarantees, custom bonds and guarantees. A comprehensive range of export services are offered by the bank including credit bills negotiation, pre-shipment export financing, export letters of credit and export bills for collection. To support your trade finance and working capital needs, the bank gives you a quick turnaround on a partially secured line of credit for up to 10 times of your collateral value. City also provide products and services to meet the cross-border financing needs of subsidiaries, affiliates or associates that are incorporated or domiciled in a different jurisdiction than that of the parent company.
If you want your business to prosper, you have to be ready to seize opportunities when they come your way. Whether you're moving to a larger office or buying extra equipment, City Bank can help unlock the potential of your business with competitively priced loans and credit facilities.
SME Mortgages: The bank provides long-term loans to help finance owner-occupied and investment property purchases for residential or commercial use.
BusinessPower: By combining a loan with an overdraft facility, BusinessPower gives you more working capital and helps support your long-term financial needs.
Business Installment Loans: To boost your long-term working capital and help you finance business purchases, the bank provides an unsecured term loan repayable in equal monthly installments (EMIs) over a fixed number of months.
The online banking facility is also available to SMEs to make their banking experience a convenient and trusted one. At City Bank the SME clientele is handed with exceptional care and convenient banking and financial solutions are provided to them for running the business and meeting with their financial needs.
