International cash management review 2010: ICM services in the Middle East and Africa
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International cash management review 2010: ICM services in the Middle East and Africa

Euromoney’s second survey of the ICM services available in the Middle East and Africa region covers eight banks: Barclays Bank, Citi, Deutsche Bank, HSBC, RBS, Standard Bank and Standard Chartered Bank, which were covered in the first survey of the region, with the addition of BNP Paribas this year. The survey also covers three new countries this year: Morocco, Tanzania and Zambia.

The survey results for the Middle East and Africa given in Table 6 show: (click here to see Table 6: International cash management services in Middle East and Africa 2010)

  • differing ICM strategies for the region, from aiming to be the most admired and profitable transaction bank in the region, to providing a consolidated client offering, leveraging an extensive Africa footprint and transactional capabilities

  • Barclays Bank has the largest branch network in three countries, Egypt, Kenya and South Africa

  • Mass payment and collection services vary considerably; Citi has the greatest own branch country coverage at 23, followed by Standard Chartered Bank

  • Multilateral netting services are available from four of the banks, Citi having the greatest country coverage

  • Notional pooling is available from all the banks, though there are wide variations in the number of locations for the master pool and the number of currencies covered

  • Sweeping services are available from all of the banks but only Citi and Standard Chartered provide facilities in a large number of countries

  • All of the banks provide ICM solutions in other regions

  • Offshore banking services in Seychelles or Mauritius are provided by five of the banks

  • The number of countries with resident cash management specialists varies from two to 23

  • Customer service support is generally available in normal business hours.

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