Barclays Outsources Trade Services to ABN AMRO

ABN AMRO has signed a trade services agreement with Barclays that will initially see ABN AMRO undertaking operational processing for Barclays’ trade services business. ABN AMRO began handling processing for Barclays in January 2004. The initial activities being processed are export letters of credit for UK beneficiaries while the remaining trade services activities will be phased in over 2004, including import letters of credit, import and export documentary collections and clean reimbursements.

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