At Heritage Bank, we believe it’s possible to attain your goals and ambitions with the right partner. That is why our Corporate Banking segment is run by a team of highly skilled professionals with an accumulated wealth of local and international experience. This makes us best poised to offer clients with world class banking and advisory services.
How we can Partner you
Every business is unique and we treat them as such. Your business will have a dedicated Relationship Manager who will listen to you, and take the time to understand your business needs and offer you bespoke services to enable you achieve your business goals. These include:
- Corporate Account Services
- Credit Facilities
- Trade services/solutions
- Digital Banking Products
We understand the varying dynamics of our clients’ businesses and have therefore crafted different solutions to facilitate business growth. Our credit facilities have different requirements, flexible tenures, payment schemes and more to meet the specific business needs of each client.
This allows temporary overdraft facilities to be granted to the target market against proven account activity. The product will enable clients to meet temporary shortfalls in working capital requirements which will be available for a maximum term of 14 days.
We can offer clients, credit facilities against confirmed invoices issued by Bank approved third parties.
A bank guarantee is a surety issued by the bank on behalf of its clients for the benefit of a beneficiary with which the bank, as the guarantor, undertakes financial responsibility.
Cash Backed Facilities
These are facilities which are fully secured by a clients’ cash deposits and/or investments.
This is a continuing facility which allows clients to overdraw up to an approved limit within a specified tenor. This is tailored towards meeting working capital requirements and interest is only calculated on amounts that have been consumed.
This product is a loan which offers credit facilities to corporate clients approved by the Bank to part-finance the acquisition of working assets.
A term loan is a monetary loan that is repaid in regular installments over a set period of time. The client pays interest only for the set period.
Trade Services and Solutions
With our Trade products and advisory services from our knowledgeable Corporate Banking Relationship Managers, we offer you the best local and international insights to facilitate your business.
Import Duty Financing
This client credit solution is designed to meet the periodic custom duty payment obligations of traders. Based on evidence and security of import shipping documents, we can extend advances or a short-term loan, meeting your particular need.
Letters of Credit
This is an irrevocable undertaking by the bank, made on behalf of a client (buyer), to pay a seller a given sum of money provided the seller presents documents that meet the terms of the credit, within a specified time and at a specified place. Heritage Bank offers sight and deferred letters of credit.
Export Bill Negotiation
This is a service designed to release liquidity to exporters. It enables them to receive payment for goods exported under letters of credit in advance without them having to wait for the payment terms under the LC to fall due.
This involves a series of individual or revolving self-liquidating facilities aimed at facilitating export trade. It can be in the form of:
Pre-Shipment Finance – Financing to produce or purchase material and labour necessary to fulfill sales orders.
Post Shipment Finance – Financing to generate immediate cash while offering payment terms to buyers.
These are a series of facilities aimed at facilitating international trade and easing the pressure on cash flows by closing the gap between customers’ payments to overseas suppliers and receipts from buyers. Facilities include working capital finance and short term loans.
Under these terms of trade, the importer sends payment or part payment to the supplier prior to shipment of the goods. This occurs when there is the need for a commitment fee or where the importers credit, country political and economic risks are high.
Documentary Bills for Collections
This is a payment mechanism under which a sale transaction is settled by a bank through an exchange of documents. The importer does not pay for the goods prior to shipment and the exporter retains title to the goods until the importer pays for them or accepts to pay later.
This kind of trade settlement comes in two forms:
Cash Against Documents: – Where the shipping documents are released to the importer on payment for the goods
Documents Against Acceptance: – Where shipping documents are released to the importer upon acceptance of the exporters drafts i.e. to pay later.
Digital Banking Solutions
With our Online banking platform, you can securely transact business at your own convenience.
- Make bulk payments
- Pay staff salaries
- Pay your suppliers
- Set up standing orders
- Access trade deals *
This is an undertaking on the part of the bank to a third party that if the customer defaults, the beneficiary will be refunded or compensated by the bank to the extent of its undertaking on the presentation of pre-determined documents.