Which transaction bank is suitable for you in Asia?
Asset Benchmark Research's Client Satisfaction Index highlights the best banks in the region with HSBC, E.Sun, ICBC coming out on top in their respective categories
Whether your company is a multinational company or small/medium enterprise, finding the right banking partner can be a difficult task based on your firm’s requirements. Yet there are still banks out there that are making a positive impression on companies across different market segments, according to Asset Benchmark Research’s (ABR) Client Satisfaction Index 2019 (CSI), which highlights the institutions that were excellent in servicing certain segments of the market in Asia.
In terms of satisfaction for global/regional banks servicing multinational corporates (MNCs) and large local corporates (LLCs), HSBC had the highest score followed by BNP Paribas and Standard Chartered.
Standard Chartered was the most stable of the bunch as it came third for satisfaction for the second year in a row. The UK-based bank works with a number of high-profile names across the region including electronics company TCL, for whom the bank was able to set up a regional treasury centre to centralize the company’s foreign exchange and compliance among other items.
ICBC made the jump from third to first place when it comes to local banks servicing MNCs and LLCs clients. The bank has placed a focus on smart banking, opening seven innovation labs to look at emerging technology trends such as big data and artificial intelligence. Another key mover among local banks in this category was Bank of Communications, which moved up five places from eighth to third place over the past year.
When it comes to servicing SME clients in Asia, Taipei-based E.Sun Bank was ahead of the pack after earning an impressive satisfaction score on this year’s CSI. This is the second year in a row that E.Sun Bank has captured the top spot in this category, highlighting the bank’s commitment to making it easier for smaller companies to manage and maintain visibility of their finances.
Greater China banks continued to dominate SME client satisfaction scores with Bank of Communications and China Guangfa Bank coming second and third respectively.
Conducted by Asset Benchmark Research (ABR) in February 2019, participants were asked how satisfied they were with their respective bank's services through a series of online surveys and interviews. ABR has now been conducting data assessment of Asian-based CFOs and treasurers for seven years. This year's CSI is based on the survey views of close to 800 CFOs and treasurers in the Asia region.
To see the list of rankings and information about our methodology, please click here.
To see last year's full list of rankings, please click here.
To learn more about our Treasury Review, please click here.
For country and service analyses, please get in touch with ABR at email@example.com.
3 Sep 2019