M&T Bank yesterday received the President's "E" Award, the nation's highest award to honor American exporters. April Foley, the vice chair of the Export-Import Bank of the United States, presented M&T Bank Chairman Robert G. Wilmers with the award in a ceremony at the World Trade Center in Baltimore.
The President's "E" Award for Excellence in Exporting was created by executive order of the President in 1961 as the nation's highest award to honor American exporters. "E" Awards, which are administered by the U.S. Department of Commerce, recognize firms and organizations for their competitive achievements in world markets, as well as the benefits of their success to the U.S. economy. M&T Bank is one of only nine companies nationwide to receive this award this year.
"Many export deals wouldn't be possible without the right financing," said Foley. "M&T Bank's international trade experts know how to tailor financial packages for exporters of all sizes with a variety of needs. This 'E' Award recognizes M&T Bank's remarkable success in supporting America's exporters."
M&T Bank has more than doubled its export loans outstanding since 2000 from $73 million to $160 million today. In addition, M&T Bank ranked number one nationally in fiscal year 2003 in number of loans guaranteed by the Ex-Im Bank -- with 72 transactions valued at $109 million.
"This prestigious award is the direct result of the hard work of our team of trade finance professionals who work every day to meet the needs of our clients who are expanding into new markets around the world," said Wilmers. "Our goal is to continue to expand our partnerships with the Ex-Im Bank and the Department of Commerce so that we can better help our customers and promote U.S. exports."
M&T Bank has also worked closely with the Commercial Service's Baltimore U.S. Export Assistance Center, Maryland-DC District Export Council, and World Trade Institute in tapping global markets.
M&T Bank is the only U.S. bank with an International Trade Finance Group headquartered in Maryland, and the group consists of 50 employees, some located in Buffalo, N.Y., that provide a complete range of export financing and documentary services. One branch of the bank's family tree -- First National Bank of Maryland -- traces its roots back to 1806 and served the merchants who plied the vital Port of Baltimore. First National was one of only a few banks in the early 20th century with a designated International Department to handle its customers' export finance needs.
M&T Bank is the principal subsidiary of Buffalo-based M&T Bank Corporation
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