Western Cape Business News

Send  Share  RSS  Twitter  24 Feb 2009

FINANCE: Here's Your Treasury Desk


Recent Western Cape Business News

MAKING use of the advantages provided by a Corporate Treasury Desk has so far been only for the privileged - the really big corporates. This needs no longer be the case, thanks to a new initiative by Nedbank Business Banking which is now making available this function to companies with turnovers of as low as R7.5 million. What’s more, you don’t even have to be a Nedbank client to make use of the facility.

Dave McCall, who heads up Nedbank Business Banking’s Investment Management unit, says Investment Management Centres have been set up in Cape Town, Durban and Johannesburg where clients can transact with a knowledgeable investment specialist who will be able to offer competitive rates and expert advice.

“This is a similar value proposition as direct dealing via a corporate treasury desk, but it’s geared to the business banking market - companies with turnovers ranging from R7.5 million up to R400 million and is a first to the market,” he says.

The product offering makes it simple for clients to manage excess funds on hand via streamlined transaction processes including settlements and confirmations and enables them to earn a competitive interest rate on the surplus funds they have available.

Importantly, says McCall, it provides an opportunity to invest money with Nedbank Business Banking even if they don’t have their primary account with Nedbank.

A variety of deposit options are provided for, such as call accounts, term deposits and cash management facilities as well as electronic interfaces in the form of NedTreasury or Corporate Saver, thereby ensuring that surplus funds are managed in line with working capital requirements.

“Nedbank Business Banking’s client service teams now include an Investment Manager who is available in a client’s local area of business and who has the knowledge and expertise to assist clients with all their investment requirements and to form a strategic partnership enabling the required growth,” McCall says.

He says his division is differentiated by its decentralised and client-centric approach.

With specialist expertise in servicing key industries, including wine, diamonds, professionals, printing, publishing, agriculture and tourism, it offers the full spectrum of business banking products and related services.

Key services include lending, deposit-taking, transactional banking, debt structuring, factoring, and vehicle and asset finance.

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