First National Bank Launches International Products

PITTSBURGH -- First National Bank of Pennsylvania has begun offering improved foreign-exchange services and offers a comprehensive suite of products related to global trade finance.

The president and CEO of the bank and its holding company, F.N.B. Corp., Vincent J. Delie Jr., made the announcement Thursday.

“Each of these new services gives First National Bank a competitive advantage,” Delie said in a prepared statement, “but together they round out a sophisticated international banking program that provides additional capabilities to our extensive product offering.”

The bank offers improved foreign-exchange payments and global trade finance, Delie said, through:

• FNB FX-Online, a proprietary online foreign-exchange platform that provides state-of-the-art technology and security in processing payments.

• International payment capabilities through full membership in the Swift network. Swift is the acronym for Society for Worldwide Interbank Financial Telecommunication.

• Delegated Leader Authority in the working capital program, of the Export-Import Bank of the United States (Ex-Im Bank), allowing the to provide its customers more efficient access to international financing.

The bank hired Yenner Karto as senior vice president for international banking in 2013 to build up that division and develop products U.S. companies need to export their goods and services abroad. The announcement yesterday of the bank’s new products reflects his efforts to serve business customers’ needs, Delie said.

“We continue to invest in solutions that align directly with what commercial clients have told us they need to compete in global markets,” Karto said.

Pictured: F.N.B Corp.'s headquarters on Pittsburgh's North Shore.

SOURCE: F.N.B. Corp.

Published by The Business Journal, Youngstown, Ohio.
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