Agent Bank


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Agent Bank

1. See: Lead manager.

2. See: Agency bank.

3. A bank that issues a credit card on behalf of the primary issuer. The agent bank does not finance the credit card transactions. Most credit card issuers are in fact agent banks.
References in periodicals archive ?
No financial facility should be paid by the agent bank to non-qualified applicants for proposals or business plans which lack technical, financial and economic justification If paid, this offence shall be considered as the illegal occupation of public property.
Several years ago, the record and payable dates of a stock dividend for the ADR of a Japanese company overlapped with its Japanese counterpart, resulting in erroneous distribution of a large number of "bonus" shares, much to the chagrin of the agent bank, which still is trying to retrieve the shares.
Each agent bank has control of the payment channel and the customer relationship.
Annual agent bank fees can run into millions of pounds (GBP) per year.
Agent bank is aimed at providing low-cost banking to the so-called underbanked.
ICBA Bancard's credit card bank, TCM Bank, N.A., has acquired the agent bank portfolio of Fifth Third Bank, the company said.
Ince and its alliance partner Incisive Law LLC, jointly acted as English and Singapore Counsel for SMBC, the agent bank in a syndicate of banks/financial institutions which included OCBC, CIC, DBS, Socit Gnrale and the financial institution Clifford Capital.
Syndicated loans involve multiple lenders for each borrower with an agent bank acting as the liaison, transmitting information back and forth among parties.
Fifth Third Bancorp headquartered in Cincinnati, OH is the lead agent bank of the facility with Wells Fargo & Co.
OAO Belagroprombank would act as the agent bank for the sake of transferring the sums Belarus is supposed to compensate.
Apart from Crown Agent Bank's core operations, the new system will also manage the bank's trade finance business.
The lender also served as initial mandated lead arranger, investment bank and security agent bank for the transaction.