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LATEST ARTICLES
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Diego De Giorgi’s arrival as Standard Chartered’s CFO coincides with a shift away from asset shrinkage and a “final push” on digital transformation.
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Some banks like the idea of external venture capitalists leading their venture businesses, but banker-led units are more likely to cement their inherent advantage.
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Standard Chartered’s corporate and institutional bank can increase its profitability even when rates fall, divisional head Simon Cooper tells Euromoney. After reaping the benefit of investments in cash management, he is now turning to the financial markets business, especially credit – reinforcing efforts to grow clients in Europe and the Americas.
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A combination of rising interest rates, depreciating currencies and poor credit ratings make it difficult for African economies to tap into global financial markets to fund their sustainable transition. At the same time, the impacts of climate change are becoming increasingly severe across the continent.
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The big transaction banks are becoming increasingly active in the B2B marketplace as they seek to cash in on corporate digital transformation.
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Standard Chartered’s new chief sustainability officer is not shying away from the reality of what the energy transition looks like in emerging markets.
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It is widely known that China’s wealth management industry has two faces: one looking out (the offshore part) and one gazing in (the onshore part). Fewer realise India, and indeed the broader subcontinent – a region full of large, fast-growing developing economies with strict capital controls – works in much the same way.
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First Abu Dhabi Bank’s recent interest in a bid for Standard Chartered and an ill-fated investment in Credit Suisse by Saudi National Bank have put the spotlight on Middle East banks as potential acquirers of international firms.
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A month ago, First Abu Dhabi Bank said it had looked at Standard Chartered but decided against a bid. Now, it is believed to have changed its mind. What has changed?
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First Abu Dhabi Bank looked long and hard at Standard Chartered, and others will do the same so long as it’s cheap. But any suitor must win the approval of Temasek.
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As their involvement in fintech matures, large banks are focusing on building standalone digital businesses rather than just taking stakes in third-party startups through venture capital funds and accelerators. Can these new in-house ventures disprove the thesis that incumbent banks can’t create disruptive business models?
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Sustainable account allows corporates to measure the impact of the sustainable finance assets their deposits are referenced against.
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Covid barely dented the strength of the banking system and most banks have been steadily releasing the provisions they took. Euromoney talks to the leaders of our 25 reviewed banks and others about the challenges they face as the world normalizes.
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StanChart had more to lose than most from the disruption of Covid – and more to gain as the markets where it operates recover.
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Last week, four global banks unveiled cross-border wealth management services under the banner of Wealth Connect, but with the crisis at Evergrande unresolved and growth slipping, the scheme comes at a tricky moment.
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Gas price volatility is delivering profits to speculators. It is a reminder that carbon trading markets could face PR problems if energy dealers are viewed as big beneficiaries.
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A joint venture between the Asia-heavy bank and a Chinese supply chain tech player aims to make trade finance an alternative asset class with digital efficiency.
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The two banks plus Singapore’s stock exchange and sovereign wealth vehicle believe they have the collective strength and skills to build Climate Impact X, based initially on southeast Asian forestry and mangrove projects.
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The leading FX banks have introduced notable enhancements to their electronic trading platforms in recent months in an attempt to make them more attractive to traders that are still working away from their offices.
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The payment industry’s ability to withstand the disruption caused by the coronavirus suggests that lessons learned from previous outbreaks have served the industry well.
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Private banking is a business based on personal relationships and trust – and it’s hard to truly connect with someone on Zoom. So long as the pandemic persists, this presents a substantial challenge to wealth managers, who can only grow their businesses by bonding with wealthy clients and winning new mandates.
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Australians may draw a different meaning from MAS’s terminology.
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Standard Chartered’s contribution to the development of African markets this year was shown in several transformational infrastructure deals, including Tanzania’s light railway and a huge offshore oil drilling rig in Angola. This contribution makes it Euromoney’s best bank for financing in Africa.
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Equity Bank takes the region's best bank accolade in this year's Euromoney Awards for Excellence.
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Ghana’s banking sector went through severe challenges in 2018 after the central bank’s asset quality review in 2017 revealed several structural challenges, including poor corporate governance, poor risk-management practices and regulatory non-compliance.
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Supply chain disruption will create new challenges for transaction bankers and may lead to long-term changes in global trade patterns.
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Digital solutions embraced as corporates get used to remote working and as banks adjust to the new normal.
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Across Asia, the coronavirus is hampering banks’ ability to run roadshows, and even hold meetings, and some business continuity plans are starting to kick in.
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Returning money to shareholders was an important milestone; building revenues and controlling costs remains the key task.
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The global head of transaction banking at StanChart says: 'We will see better results if we work together.'
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There have been several ground-breaking sustainable finance deals in the last 12 months in Africa and one bank has been at the forefront of them: Standard Chartered.
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Closure of second investigation brings embarrassing episode to an end.
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The culture is changed and numbers are solid, but return on equity isn’t going to budge without progress on costs.
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The banking and financial conference scores highly with Euromoney's correspondent.
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SC Ventures launched in Singapore; combines internal accelerator with venture capital.
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The west African state has reclaimed its status as the most attractive francophone market south of the Sahara. International banks are rushing to do business there.
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Africa’s best investment bank, Standard Chartered, owes its success to its pre-eminence in foreign exchange, debt capital markets, loans, advisory, structured products and research.
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Euromoney magazine has released the results of its 40th annual foreign exchange ranking, the most comprehensive quantitative and qualitative annual study available on the FX markets.
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The winner in the transaction services category has put this business at the heart of its global strategy over the last two years to reduce reliance on lending revenue. In 2017, the success of this commitment could be seen in the Middle East – perhaps reflecting the fact that the banker leading this global reorientation in corporate and institutional banking, Simon Cooper, was previously chief executive of HSBC Middle East.
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Emirates NBD wins award for the Middle East’s best bank; Citi scoops regional investment banking category; winners demonstrate commitment to areas such as digital transformation, SME lending and corporate social responsibility across the region.
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‘Natural extension’ of bank’s credit strategy; reg capital deals still interesting to Latam banks.
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StanChart is through the worst of its crisis, but nowhere near where it needs to get to
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HSBC holds top place in both the global financial institutions and non-financial institutions results; global banks dominate but regional banks continue rise.
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When Bill Winters wanted someone to revamp Standard Chartered’s beleaguered commercial and investment banking unit, he turned to HSBC veteran Simon Cooper. The key to Cooper’s success will be whether he can make the good remaining pieces work as a whole.
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Euromoney has never before given an award in Afghanistan, but the story of Azizi Bank is compelling. Formed by an ethnic business group in 2006 and owned by Dubai’s Azizi Group, it took over the Development Bank of Afghanistan from the central bank in 2009, then India’s Punjab National Bank in 2014. It is Afghanistan’s largest commercial bank, with more than 140 branches and a million customers, and employs 2,300 people, 17% of them women, which does not sound a lot but matters in Afghanistan.
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Last year’s winner of best for markets in Africa – Standard Bank – was unable to hold off competition from Standard Chartered this year. With its 56 people-strong Africa sales team and trading team of 28 – making it the largest on the ground – Standard Chartered was difficult to beat.
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Angola’s economy continues to suffer from low oil prices, a poorly functioning system of government and the influence of the state on the private sector.
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Euromoney magazine has released the results of its 39th annual foreign exchange ranking, the most comprehensive quantitative and qualitative annual study available on the FX markets.
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Overall market share Overall banks only Overall non-bank liquidity providers only Spot/forward market share Swap market share Options market share Emerging market currencies market share
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Commercial International Bank wins region’s best bank award; winners reflect year of reform and easing bank liquidity; record year for Gulf debt capital markets sees HSBC retaining investment-banking title, while local and international banks do battle for regional and domestic awards.
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Events such as the rise and fall in the oil price and the steep devaluation of the Egyptian pound, made 2016 another eventful year for markets businesses in the Middle East.
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Asian green bond initiatives are supporting an unprecedented global surge in issuance, with many markets taking a leaf out of China’s regulator-led book.
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UBS Wealth Management voted best global private bank; new regional winners; private banks less bullish on revenues; non-bank competition a minor concern.
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The world seems to be turning away from globalization and towards protectionism. Yet despite this challenging environment for trade, the bankers who finance it remain surprisingly upbeat.
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While HSBC scores a notable double in Euromoney’s annual global rankings, the record response rate of almost 35,000 validated votes generated a host of changes at the upper end of our cash management survey. Regional banks move to the fore and some previous global leaders have dropped back.
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Results index Global All transactions 2016 2015 Bank Score 1 2 HSBC 6548 2 3 Citi 3830 3 1 Deutsche Bank 3116 4 13 Bank of New York Mellon 1728 5 14 Sumitomo Mitsui Banking Corporation 1536 6 8 JPMorgan 1534 7 5 Commerzbank 1359 8 4 Bank of America Merrill Lynch 1339 9 6 Standard Chartered 1305 10 7 Barclays 1303 11 9 Bank of Tokyo-Mitsubishi UFJ 1209 12 32 Industrial & Commercial Bank of China 1057 13 45 DBS Bank 1045 14 12 Wells Fargo 823 15 11 Bank of China 817 16 19 Societe Generale 721 17 18 Mizuho Bank 692 18 16 UniCredit 607 19 21 ADCB 605 20 15 RBS 535 21 10 BNP Paribas Fortis 504 22 Cathay United Bank 501 23 22 Yapi Kredi 355 24 UOB 352 25 ANZ Banking Group 340 26 23 ING Group 265 27 35= Agricultural Bank of China 251 28 29 Akbank 250 29 17 RZB 223 30 137= Bank Mandiri 218 31 42 Arab Bank 194 32 39 Bank of Communications 193 33 28 UBS 189 34 ATF Bank 188 35 208= Bank Central Asia 182 36 BNI 46 162 37 CIMB 156 38 38 Danske Bank 152 39 65= Banco BPI 144 40 208= Bangkok Bank 132 41 Siam Commercial Bank 126 42 40 Credit Agricole 122 43 34 BBVA 118 44 Hang Seng 116 45 41 Lloyds 114 46= 27 Garanti Bank 110 46= 74= Bancolombia 110 48 Bank Danamon 107 49 NAB 106 50 Bank of Nanjing 103
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These are miserable times in Australian banking, which is suffering issues ranging from banking culture to credit quality as the commodity cycle ends. Commonwealth Bank has reputational issues around its CommInsure unit, while both ANZ and Westpac are under investigation for rate manipulation.
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Deutsche Bank’s co-CEO John Cryan should follow the playbook of Standard Chartered CEO Bill Winters and mount a public campaign to claw back bonuses from former managers.
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Extended results can be viewed here.
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Trade Finance Survey 2016 full results Global 2016 2015 1 1 Deutsche Bank 2 2 UniCredit 3 3 Citi 4 4 HSBC 5 5 Commerzbank 6 14 Société Générale 7 12 RBS 8 6 Standard Chartered 9 20 ING 10 10 Santander
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It was the weakest year for global trade since the financial crisis. Trade-finance margins and volumes fell in 2015, while bank competition and industry costs jumped. Euromoney surveys the fallout.
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View full results index
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The $5.6 billion of fines handed out to six leading foreign exchange banks will not be the end of the crisis afflicting FX, but it might be the beginning of the end. The people at the top of the industry are starting to think more deeply about what will drive success in the FX markets of the future. How can foreign exchange rebuild its zest, and its reputation?
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Citi retains top spot in Global FX as clients execute more than half electronically for the first time
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Bill Winters has some big decisions to mull while he prepares to start his new job as Standard Chartered chief executive.
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Soon after Bill Winters was appointed CEO of Standard Chartered, his highest-profile protégé from their shared days at JPMorgan also announced a new job.
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Standard Chartered’s PR machine does not seem to be helping turn the bank’s story around at a critical time for CEO Peter Sands.
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New York’s highest court has delivered a boost for the global banking model but the international legal architecture remains a minefield.