Lender of the Year Awarded to PNC Bank at 2024 EXIM Annual Conference
Washington, DC – The Export-Import Bank of the United States (EXIM) today announced that PNC Bank received the Lender of the Year award in recognition of its work to provide EXIM-backed financing to and on behalf of U.S. exporters. The award was announced at EXIM’s Annual Conference in Washington, D.C.
Headquartered in Pittsburgh, Pennsylvania, PNC traces its history back to 1845, beginning with the founding of the Pittsburgh Trust and Savings Company. Since then, PNC has grown to the sixth largest commercial bank in the U.S. and has been working with EXIM since 2006. Working in collaboration with the Bank’s Working Capital Guarantee Program (WCGP), PNC has achieved Delegated Authority Level 6 – EXIM’s highest – allowing PNC to offer its customers additional access to liquidity such as borrowing against foreign inventory and accounts receivable.
PNC has been one of the top lenders in the WCGP, with total authorizations of $141 million.
“PNC Bank has worked with EXIM for more than 40 years through its Trade Finance Group to provide financing for foreign companies purchasing machinery, equipment or services from U.S. companies,” said Tom Parides, SVP and Head of the Trade Finance Group for PNC Bank. “Our work with EXIM helps us provide U.S. companies with the financial tools and resources to expand their businesses in support of exports and U.S. jobs.”
“Working with institutions such as PNC Bank are critical to EXIM’s continued success in supporting Biden-Harris Administration priorities and advancing American exports,” said EXIM President and Chair Reta Jo Lewis. “We have enjoyed a fruitful relationship with PNC, allowing us to further support American business and increase the nation’s export competitiveness.”
ABOUT EXIM BANK:
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.
ABOUT PNC BANK:
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.