Citigroup GTS Wins Deutsche Postbank Mandate for Trade Finance Services
Deutsche Postbank has appointed CitiGroup to manage an outsourcing solution to provide trade finance services to its middle market customers throughout Germany and on a global stage. Deutsche Postbank is a subsidiary of Deutsche Post World Net. Through the appointment of Citigroup as Postbank’s trade services partner, Postbank will offer integrated financial solutions with Deutsche Post World Net’s logistics services. With documentary collection and credit services, Postbank will undertake the financing and payment guarantee while DHL, a division of Deutsche Post World Net, will handle the express delivery of the documents and goods transportation worldwide. This will, according to CitiGroup, give the corporate customers of Deutsche Post World Net ‘one-stop-shopping’ along the value chain of logistics and financial services.