HSBC has retained the top spot in Euromoney’s Trade Finance Survey, with Deutsche Bank holding onto second place and UniCredit moving up one place to third, swapping places with Citi. Crédit Agricole, Santander and Societe Generale entered the top 10 this year to take eighth, ninth and 10th place respectively.
Last year, Crédit Agricole was ranked 15th, while Santander and SocGen were positioned joint 24th. Meanwhile, JPMorgan fell out of the top 10, dropping from ninth place to 17th. HSBC also excelled regionally, taking the top spot in Africa, Asia-Pacific, the Middle East and North America.
“These results show that our strategy, investment and unwavering focus on clients is working,” says Natalie Blyth, global head of trade and receivables financing at HSBC. “As the world’s leading trade bank, we take our leadership responsibility to transform the industry seriously, making trade easier and more accessible.”
In terms of service, the survey found that UniCredit had surpassed its peers to come out on top globally, with those surveyed praising the bank in terms of advisory, financing, overall execution and product offering.
“The results of this year’s survey once again highlight our unwavering commitment to meeting clients’ needs through tailored trade finance and working capital solutions, as well as the considerable strength of our international network,” says Luca Corsini, head of global transaction banking at UniCredit. “As the industry moves into a new era of digitalisation characterised by faster and more efficient processes, we will remain focused on providing our customers with best-in-class products and services.”
The Euromoney Trade Finance Survey is designed to recognise the leading providers of trade finance products and services. This year the survey collected 7,319 valid responses from seven regions, including Africa for the first time since 2016.
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