HSBC has taken the top spot for the first time in the global results of Euromoney’s annual trade finance survey, dislodging Deutsche Bank to third place, behind UniCredit.
The regional results also proved a success for HSBC, as the bank took the top place in Latin America and Middle East. It also rose one place to third in Western Europe.
It was not all bad news for Deutsche, as it took the top spot in Apac, pipping HSBC to second. The German bank also took the top place in its home market of Western Europe.
DBS made a strong move into the top 10 for the first time, ranking eighth. Asia banks had a good showing this year, as Bank of Tokyo-Mitsubishi UFJ also joined the rankings, taking 12th place.
It was a different story in the best-services ranking, as UniCredit took the global top spot. Deutsche Bank had a much stronger showing in these results, coming second. Commerzbank showed it has a committed user base, taking third place, despite only ranking fourth in the regional results for Western Europe.
The survey attracted the highest number of votes to date, pulling in 7,255 – an 80% jump on the number recorded in 2017. This year also saw the largest number of banks nominated, with 390 institutions from around the world receiving votes, compared with 198 last year.