More NewsKorea’s Shinhan Bank Implements J.P. Morgan’s RMB Clearing and Trade Services

Korea's Shinhan Bank Implements J.P. Morgan's RMB Clearing and Trade Services

J.P. Morgan Treasury Services is continuing to expand its renminbi (RMB) international trade settlement services to its clients across Asia-Pacific, with Shinhan Bank, one of Korea’s oldest and most esteemed financial institutions, the latest client regionally to implement RMB clearing and trade solutions.

Shinhan Bank’s decision to implement J.P. Morgan’s RMB clearing and trade services further strengthens a long relationship between the two firms, which began with J.P. Morgan providing US dollar clearing services for the Korean bank’s treasury and commercial payments operations in 1983. Through this new deal, Shinhan Bank’s corporate clients will now benefit from clearing of cross-border trade payments with China, reduced operating costs and the mitigation of foreign exchange risk.

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

2m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi