Prime Bank is a shareholder of First Merchant Bank Ltd a commercial Bank in Malawi.
The Bank has correspondent relationships with
- Citibank N.A, New York, London, Frankfurt and Johannesburg
- Standard Bank of South Africa
- ICICI Bank India
- Barclays Bank of Kenya LTD
Which enables the Bank to offer full-fledged trade finance and foreign exchange services.
During the first quarter of 2007, The International Finance Corporation (IFC), the private sector development arm of the World Bank Group, extended a trade finance facility to Prime Bank. This facility provides a trade finance guarantee to the bank as part of the USD 1bn Global Trade Finance Program launched in 2005 to support trade with emerging markets worldwide.
This strategy adopted by the IFC is geared towards assisting in the expansion of trade finance in Kenya.
