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Citi remains the most favoured cash management bank globally in Euromoney’s poll of 3,801 cash managers, treasurers and financial officers from 89 countries. Only HSBC, overall winner in 2006, comes anywhere near Citi in this year’s poll. Other banks are positioned as global or multi-regional contenders such as ABN Amro, Deutsche Bank and Standard Chartered.
In addition to its global lead, Citi led the poll in every individual global region – a stunning achievement. It also topped the poll for financial institutions in every region, in every currency with the exception of Latin America yen transactions, Middle East euro, dollar and yen transactions and the broader category of cash management and African yen transactions, all of which were headed by HSBC.
To a large extent, Citi dictates the trends that dominate the industry. When the bank decided seven years ago to focus on value-added services rather than commoditized cash management services such as domestic and cross-border payments and rudimentary liquidity structures, it was not the first bank to do so.