Alkagesta said support from its banking partners through banking facilities and trade finance lines exceeded $1bn, as it hosted a gathering of financial institutions and industry stakeholders in Malta. According to Alkagesta Newsroom, the financing supports the continued expansion of the company’s global trading business and operations in Malta.
The Banking Partners Summit took place on 2 October at Alkagesta’s Malta headquarters. Representatives attended from financial institutions across Switzerland, the Netherlands, Austria, the United Kingdom and Malta, together with the company’s clearing partners and local industry and government stakeholders. The full-day programme focused on commodity trading, trade finance, risk management and compliance, as well as Malta’s position as an international trading centre.
Participants attended presentations at the company’s offices before visiting the Evos Malta terminal and holding discussions with its management. The programme ended with a gala dinner, which the company described as an opportunity for participants to develop professional relationships and consider future co-operation. The account did not identify individual banking institutions or give a breakdown of their financing commitments.
Alkagesta linked its banking relationships to transparency, regulatory compliance and prudent risk management. In its account of the summit, the company presented international bank support as an important part of its ability to carry out trading strategies while maintaining governance and controls. It also highlighted clearing partners’ contribution to its risk framework through clearing services, market access and risk coverage used in executing and hedging trades.
The company said discussions also addressed Malta’s appeal for international commodity trading and trade finance. Its account cited European Union membership, the regulatory framework, financial services infrastructure and the presence of logistics and storage operators as supporting factors. Alkagesta portrayed closer relationships among banks, clearing institutions, terminal operators and local stakeholders as a basis for further development of Malta’s trading and finance activities.