Three banks are closing in on the top positions in the global rankings for best trade finance providers in the Euromoney Trade Finance Survey 2016 results.
The top five positions in the global rankings remained unchanged compared with those from last year, but Société Générale, Royal Bank of Scotland (RBS) and ING have clambered up the rankings to push into the top 10.
Deutsche Bank came in first, followed by UniCredit and Citi respectively. HSBC came fourth and Commerzbank retained fifth spot. Standard Chartered was pushed out of its 2015 sixth place by SocGén in 2016, and sits in eighth place behind RBS this year.
The Trade Finance Survey is designed to give the opportunity for clients of trade finance providers to rank the providers across a selection of service categories, and produces an overall, global ranking of providers.
The survey is split into three parts: the trade finance provider nominations; the market share splits; and the service category ratings.
Part 1: Clients nominate their top three trade finance providers globally and by regions. Providers receive four points for a first place nomination, three points for a second place nomination and two points for third place. These scores are totalled to produce a ranking. Country rankings are available based on the location of the respondent and the global nominations given.
Part 2: Average % of business each client trades with each provider – globally and by region. Each client gave a % of business they trade with each of their providers and this was averaged globally/by each region. This will enable us to produce market share rankings by geography.
Part 3: The overall qualitative scores are calculated as a simple average of all the ratings given for each bank, regardless of category. The thresholds for the overall rating tables are set to 100 throughout (global and regional). This is 100 ratings and not 100 respondents – one respondent can rate a bank in up to 21 categories.
For the individual service categories, the score is the arithmetic mean of the ratings for that category.
Votes are not included in the survey in instances where:
· Service providers cast a vote for themselves
· Euromoney does not receive confirmation from the respondent of their identity
· An individual respondent submits more than one ballot and we cannot resolve the duplication
· A respondent’s volume is duplicating that of a colleague’s from the same institution