Deutsche Bank takes top place in Trade Finance 2015 results
The results for the Trade Finance Survey indicate a resounding success for Deutsche Bank.
The results of the Euromoney Trade Finance Survey are in, and Deutsche Bank enjoyed the greatest success of any individual bank in a market place undergoing profound change. The German bank took the coveted top place for the global award, holding off UniCredit and Citi into second and third place respectively.
This year’s relaunched Trade Finance Survey pulled in 2,348 valid responses across its three different sections, with a different methodology applied to find the results for each.
For the trade finance-provider nominations, clients chose their top-three providers globally and by region, with a points weighting given accordingly to each position. For the market share splits, the average percentage of business each client did with the provider was accrued. And in the service category ratings, the score was a mean ranking.
Deutsche received the most votes in a number of individual country categories – spread across geographical regions – particularly in the emerging markets. It took the top spot on home turf in Germany, and received further accolades in Switzerland, Netherlands and the US.
Daniel Schmand, Deutsche’s managing director, head of trade finance and cash management corporates EMEA, says the bank has worked to boost its personnel to offer the best services to its clients.
“The introduction of our new global solutions team – tasked with rolling out local best-practices across wider markets – alongside the continued development of our holistic, client-centric approach demonstrates our desire to provide the best possible support to our clients,” he says.
The success has come with the challenges of adapting to the individual requirements of clients based in countries at different stages of economic and financial market development.
Schmand adds: “Emerging markets as a whole have become much more dominant on the world stage, claiming a greater portion of international trade. But these markets are progressing at varying rates, and each presents radically different needs, preferences and priorities.”
The bank’s success in Asia is of particular note – Deutsche has a strong position from its base in Hong Kong, and has a significant on-the-ground presence, operating across 14 countries in the region.
As well as recording success in the established markets of South Korea and Singapore, the bank also took the top spot for some of the region’s emerging economies, notably Vietnam and Sri Lanka. Schmand says the bank is particularly proud of this success, stating it has made focused efforts to grow its offering in such a varied and dynamic region.
Shivkumar Seerapu, head of trade finance, Asia Pacific at Deutsche, adds that the bank has worked on a partnership approach with large customers in the region. “This client-centric approach has also allowed us to better address large or specialized mandates and deliver solutions which are innovative or take advantage of our regional and global network,” he says.
The bank is a top player in foreign exchange and its breadth of capability in currencies across the region also saw it take the top spot for the RMB, yen and Australian dollar.
“These accolades – all the more valuable for being awarded to us by our own clients – are a clear signal that we’re heading in the right direction,” says Schmand.
The survey also showed a strong result for UniCredit, which took nine country awards across Eastern Europe and Russia, as well as the overall Central and Eastern Europe award, showing its dominance in this region. The bank also took the top spot for guarantees and open account payments.
In the service and products categories, which rank institutions based on the services they offer to their clients, HSBC saw the greatest success. The bank came top in 10 categories, ranking most highly for its services, including relationship management, supply chain finance and global trade network.