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Foreign Exchange

International cash management review 2010: ICM services in Asia-Pacific

Asia-Pacific was until recently relatively under-developed in terms of the cash management services available, despite some of the major international cash management banks having had a presence in the region for many years. It is now fast becoming one of the most competitive markets for cash management. Three of the largest Chinese banks, Agricultural Bank of China, Bank of Communications and ICBC, are expanding their cash management services across the region and several of the world’s largest cash management banks are focusing their attention on the area, attracted by potential new business from some of the fastest-growing companies in the world.

Euromoney’s annual survey of the ICM services available in the Asia-Pacific region covers 11 banks: Agricultural Bank of China, Bank of America Merrill Lynch, Bank of Communications, BNP Paribas, Citi, Deutsche Bank, HSBC, ICBC, JP Morgan, RBS and Standard Chartered Bank. The survey results given in Table 5 show: (click here to see Table 5: International cash management services in Asia Pacific 2010)

  • differing ICM strategies for the region, from aiming to be the leading treasury integrated solutions provider in the Greater China region, to helping clients optimize working capital and expand their businesses within Asia and to other regions

  • Standard Chartered has the widest country coverage with 21, HSBC a close rival with 20, followed by Citi with 18

  • Standard Chartered Bank has the highest combined coverage of own and partner bank country coverage with 47 (an increase of 15 partners); Citi is its closest rival with 32

  • Agricultural Bank of China has by far the greatest number of own branches in the region thanks to the 24,000-plus in China, followed by ICBC with more than 16,000 in China; of the non-Chinese banks Standard Chartered Bank has by far the greatest number of own branches in the region with 900-plus

  • Citi has a combined total of its own and partner bank branches in the region of considerably more than 180,000, far in excess of any of the others

  • Mass payment and collection services are provided in 20 or more countries by several of the banks

  • Many of the banks now provide some payment card issuing and acquiring services

  • Only four of the banks provide a multilateral netting service

  • Only a small number of countries in the region are covered by pooling and sweeping arrangements

  • Eight of the banks have investment portals and nine offer automated sweeps into money market funds

  • ICM solutions in other regions are offered by all...

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