LAS VEGAS, May 20, 2008 (PRIME NEWSWIRE) -- City National Bank today announced that it has identified Nevada as an emerging market for international banking business. The bank has mounted an aggressive marketing campaign to capitalize on numerous opportunities that exist in the international arena throughout Nevada. (For an image related to this story, go to http://www.cnb.com/images/intl/nv-campaign-052008.pdf.)
As part of this campaign, the bank will also be leveraging a new partnership with the U.S. Department of Commerce Commercial Service that recently named City National Bank as a corporate partner. This partnership will provide the bank with a number of benefits, including the following:
* Leads to worldwide export opportunities * Procurement services * In-country company and industry research * Trade missions * Partner matching
"Businesses in Nevada are clearly playing a pivotal role in today's global economy with both import and export goods and services," said John Guedry, executive vice president and Nevada region manager of City National Bank. "Our new partnership with the Department of Commerce, coupled with our award-winning international banking products and services, will provide us with a larger share of this growing business in Nevada."
International currency management is an area in which City National can help its clients with eliminating or mitigating risk in the foreign markets. Some of the services in this area include:
* International Payments/Collections * Spot Contracts * Forward Contracts * Forward Contracts with "Window" Delivery Dates * Foreign Wire Transfers and Drafts * Foreign Banknotes
It was nearly a year ago, following the acquisition of Business Bank of Nevada and the brand rollout of City National Bank in Nevada, the bank introduced its foreign exchange capabilities in southern Nevada. Prior to the end of last year, the bank expanded its foreign exchange capabilities to northern Nevada, providing clients statewide with this growing service.
The bank has also provided clients with greater access to foreign markets for import and export business through its wide array of international trade financing products and services. Some of these products and services include the following:
* Import/Export Letters of Credit * Banker's Acceptance * Documentary Collections * Government-Guaranteed Export Lending * Standby Letters of Credit * Foreign Credit Information
In addition to City National's wide array of international banking solutions, the bank has relationships with the U.S. Export-Import Bank, Bank of East Asia, and other banks around the world. "The world is certainly getting much smaller and through these and other relationships we can help facilitate our clients' business success today and well into the future," Guedry said.
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $15.9 billion in total assets, and provides banking, investment and trust services through 62 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. The company and its eight majority-owned investment affiliates manage or administer nearly $56 billion in client investment assets, including $35.9 billion under direct management.
City National has nine branch offices in Nevada, including five in Las Vegas and one each in North Las Vegas, Reno, Carson City and Minden. The bank also has loan production offices in Reno and Stateline in South Lake Tahoe.
For more information about City National, visit the company's Website at cnb.com.
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City National Bank Media Contact: Paul C. Stowell 702.952.4415 firstname.lastname@example.org