J.P. Morgan agrees LC re-issuance deal with UBI

J.P. Morgan has announced that it has signed a letter of credit (LC) re-issuance services programme with UBI through the Indian bank’s Hong Kong branch. Under the arrangement, J.P. Morgan will support UBI in the issuance of Asia-bound LCs. The new arrangement is designed to help UBI access a broader pool of potential new customers, drive increased beneficiary-driven revenue and enhance its presence in international markets.