More than half of global banks (55%) stated that rising interest rates negatively impacted non-documentary trade finance asset growth, while 44% mentioned geopolitical risks affecting growth.
52% of banks plan to enter new product lines in 2024, with 27% viewing Trade Receivables products as having the most growth potential, surpassing Payables products for the first time.
81% of banks surveyed anticipate growth in their supply chain finance assets in the next 12 months, with 35% expecting asset size increases exceeding 10%, showcasing cautious optimism.
"Supply chain finance is showing robust growth despite global economic uncertainty. Banks focus on receivables products, proving ideal for corporate financing during high-interest rates," said Matt Wreford, Demica.
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