Asia is the new battleground for European transaction banking

Asia is the fastest-growing transaction banking market globally, as banks vie for cash and trade business beyond their core remit.

European banks are particular attracted to the region, as corporates based in Asia hope to diversify away from Asian and US banks that may be caught up in the ongoing trade war, says Stefan Hoops, head of Deutsche Bank’s corporate banking division.

“It might seem a little incongruous, but over the last 12 months, we have won more mandates for American companies based in Asia than for European companies in North America or American companies in Europe,” he says.