Mumbai, 11 November 2008 - J.P. Morgan today announced the enhancement of its cash management and trade finance solutions in India. J.P. Morgan's Treasury Services division provides cash management, trade finance, and foreign currency clearing account services to some of the largest India-based firms within the financial services, manufacturing, IT, infrastructure, chemicals, aviation and retail industries.
Recently, J.P. Morgan unveiled a global investment plan of more than US$1 billion to strengthen its cash management and treasury liquidity capabilities, invest in technology solutions and expand its global footprint.
This investment will further make it easier for J.P. Morgan clients to move, concentrate, invest and manage their cash around the world.
As part of this investment plan and in response to the increasing customer demand, J.P. Morgan has launched new domestic cash management and trade finance capabilities in India. The full suite of capabilities includes an integrated electronic banking platform, high-value and low-value electronic payments and receipts, local and out-station check clearing, liquidity solutions, as well as a wide range of trade finance and structured trade finance - including Export Credit Agency-backed financing solutions, supply chain, logistics advisory services, risk mitigation solutions and freight payment audit services using state-of-the-art integrated technology built on robust proprietary platforms. These domestic capabilities complement J.P. Morgan's global service offering and leverage its global network.
"India is a focal point for us within the Asia Pacific region, as reflected by the continued expansion of our cash management and trade finance capabilities throughout the country. We are combining global and local capabilities that will enable clients to operate more efficiently worldwide", says Linda McLaughlin-Moore, Managing Director, Product Management and Delivery Executive - Asia Pacific, J.P. Morgan's Treasury Services.
"Our enhanced domestic service offering in India leverages our global technology, service excellence model and consolidated liquidity services across more than 90 markets to help clients maximise their working capital and supply chain finance. Combined with best-in-class trade finance solutions, we are able to offer a comprehensive range of treasury services to our clients", says Rajiv Jain, Managing Director, Head of J.P. Morgan's Treasury Services in India and South Asia.
Our consistent and disciplined approach to managing our balance sheet has enabled us to be the transaction processing bank of choice for many corporations, financial institutions and non-bank financial institutions in India that are looking for a safe haven to diversify their assets.
J.P. Morgan is the world's largest U.S. dollar clearing and commercial bank and is widely recognised for having a strong balance sheet.
J.P. Morgan also leverages the services and products of its Worldwide Securities Services division, as well as J.P. Morgan's Investment Bank and Asset Management services to provide its customers with one-stop solutions.
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 39 countries, J.P. Morgan Treasury Services is the world's largest provider of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.