Pierre Perrin-Monlouis Dernière mise à jour: 20 octobre 2021
Cash pooling and zero balancing also available in the Baltic states as of June 2008
Romania to follow in second half of 2008
As of June 2008, the corporate customer division of the UniCredit Group – UniCredit Corpo-rate Division – offers its corporate customers in the three Baltic states of Latvia, Lithuania and Estonia cash pooling and zero balancing in euro. As such, UniCredit is the first bank to provide its corporate customers in these states with this form of internal liquidity settlement, and to connect the Baltic states to western Europe with a real zero-balancing service. This offer – which is developed by UniCredit in its Global Transaction Banking Department – will be expanded during the second half of 2008 to include corporate customers in Romania.
Marco Bolgiani, Head of Global Transaction Banking of the UniCredit Corporate Division: “Starting immediately, German, Austrian or Italian companies can integrate the five East-European states into their finance management, and book all euro transactions in and out of this region in their existing cash pool on a daily basis and on the correct value date. For cor-porate customers who are active internationally, this is a significant improvement to their cor-responding cash management. At the same time, we are continuing to expand our area-wide network in Central and Eastern Europe within the UniCredit Group in a sustainable manner – and hence our excellent market position in these regions as well.
Cash Pooling is a part of modern finance management, whereby the corporate customer has the opportunity to provide all business units with credit in order to cover liquidity gaps and hence achieve significant interest optimisation. Within the framework of zero balancing, several accounts held by a corporate customer are concentrated and effectively pooled. In this conjunction, all balances are transferred to a top account daily or several times daily with original value dates. Debit balances are covered by existing credit balances. Surplus credit balances are exhausted. As such, a zero balancing of the accounts takes place, so that nei-ther interest credited nor interest debited has any effect on the accounts involved. The bal-ance on the top account is then used for interest payments. The most important advantage of this financial instrument is the significant optimisation of interest and liquidity management by avoiding overdrafts and creating improved assessment possibilities. In addition, no losses are incurred due to different value dates.
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