Deutsche Bank has reported establishment of a supply chain financing solution for BASF China to support the company and its suppliers in China with working capital capabilities. This financing solution will allow BASF and partners more accessible risk mitigation and improved working capital flows that support automated processes such as reconciliation, settlement, forecasting, monitoring, lower transaction costs that enable reduced transaction pricing.
BASF Asia Pacific Vice President Direct Procurement Dr. Bernhard Weigl said, “The supply chain finance program in cooperation with Deutsche Bank drives a “Win-Win-Win” situation, where BASF China can increase the efficiency of its cash flow turnover and strengthen its relationships with suppliers, where suppliers achieve a higher efficiency in their financing costs and operations, and where Deutsche Bank once again demonstrates its broad, innovative capabilities in supply chain finance.”
Deutsche Bank Greater China Head of Coverage Peter Qiu said, “We are very happy to further deepen our long-standing global and successful China partnership with BASF. This solution not only provides BASF and its suppliers stronger working capital support, it is also a prime example in action of the strategic importance of the China market to both BASF and Deutsche Bank. As one of the world’s leading banks in supply chain finance, we are delighted to work with clients seeking innovative solutions to strengthen their relationships with core suppliers, optimize their cash flows, and improve the economics of their supply chains.”