Two months ago GTR called all companies that read our magazine and attend our events to vote in our annual Leaders in Trade awards. We asked these and other companies engaged in cross-border trade activities to tell us which financial institutions are the best internationally. These are the results.
GTR LEADERS IN TRADE 2014 RESULTS AT A GLANCE
For some categories we roped in the support of the rest of our database as well. See results marked *
Best global trade finance bank
First place HSBC
Best global export finance bank
First place Société Générale
Best global commodity finance bank
First place BNP Paribas
Runner-up ABN Amro
Best global structured commodity finance bank
First place ING
Runner-up Deutsche Bank
Best trade finance bank in Latin America
First place Santander
Best trade finance bank in Asia
First place Standard Chartered
Runner-up Bank of America Merrill Lynch
Best trade finance bank in CEE
First place Commerzbank
Runner-up Raiffeisen Bank
Best trade finance bank in CIS
First place Sberbank
Best trade finance bank in Australia and the Pacific
First place Westpac
Best trade finance bank in the Middle East & North Africa
First place HSBC
Best trade finance bank in Sub-Saharan Africa
First place Standard Bank
Runner-up Barclays Africa
Best trade finance bank in the Nordic region
First place SEB
Best trade finance bank in North America
First place JP Morgan
Runner-up Bank of America Merrill Lynch
Best trade finance bank in Western Europe
First place Deutsche Bank
Runner-up Crédit Agricole
Best trade finance bank in the UK
First place RBS
Best Islamic trade finance bank
First place Maybank
Best development bank in trade
First place Asian Development Bank
Runner-up African Development Bank
Best alternative trade finance provider
First place Falcon Group
Runner-up Trade Finance Partners
Best export credit agency
First place UKEF
Best supply chain finance bank
First place Citi
Runner-up JP Morgan
Best forfaiting house*
First place LFC
Best factoring house*
First place GE Capital
Runner-up Bibby Financial Services
Best trade outsourcing bank*
First place BNY Mellon
Runner-up Wells Fargo
Best trade finance software provider*
First place China Systems
Best bank for documentary processing*
First place Commerzbank
Best trade credit and political risk insurance broker*
First place BPL Global
Runner-up Arthur J Gallagher
Best trade credit insurance underwriter*
Joint first place Euler Hermes
Joint first place AIG
Best political risk insurance underwriter*
First place ACE
Company with the best supply chain finance platform*
First place PrimeRevenue
GTR speaks to some of the global winners to hear their thoughts on their wins.
head of trade finance, Asian Development Bank (ADB)
“ADB’s trade finance team is delighted and honoured to receive the award of Best Development Bank in Trade, especially as it reflects our clients’ positive views of the team’s efforts to provide value addition and efficient service.
The trade finance community is tight, and this is also the case among our colleagues in other multilateral banks who work hard and firmly believe in what they are doing: closing market gaps to support more trade in emerging markets, which brings growth, jobs and ultimately improve peoples’ lives. We appreciate all the co-operation, sharing of information and ideas.
Improving peoples’ lives is not the exclusive domain of multi-lateral development banks.
Without our commercial bank partners working in this space, we wouldn’t be doing any business. Thanks for all the support and for bringing us into your transactions, making us part of your team.
We would also like to salute the good work and partnership of our distribution partners Swiss Re, IE Singapore, Australia’s EFIC and FMO who have helped us bring more capacity to tough markets, helped us close the gaps to create more growth and jobs.
In 2014, ADB’s trade finance business did over 2,000 transactions supporting about US$4bn in trade in the toughest markets in Asia. Over 80% of ADB’s Trade Finance Programme’s (TFP’s) transactions supported SMEs – more
than 1,500 of them.
In addition to providing guarantees and loans to support trade, we focus on providing information (knowledge sharing) that can also lead to closing market gaps. Our relationship managers are very good at that, as they have an in-depth understanding of their countries and banks.
We’ll be going to our board in 2015 to lay out TFP’s 2016-19 strategy. In the course of developing that strategy we’ll be consulting many of you to solicit your views and ensure our thinking is well-attuned to market requirements and your thinking about our role.
Many thanks for all the support and for the recognition which means a great deal to us.”
global head of structured metals and energy finance, ING
“We are delighted that ING has been voted Best Global Structured Commodity Finance Bank by the readers of GTR. The award is a reflection of our global team’s relentless efforts in assisting our target customers to achieve their ambitions as part of ING’s Think Forward strategy.
Despite challenging circumstances in some of the established geographic markets, ING has successfully closed a number of high-profile transactions.e are delighted that ING has been voted Best Global Structured Commodity Finance Bank by the readers of GTR. The award is a reflection of our global team’s relentless efforts in assisting our target customers to achieve their ambitions as part of ING’s Think Forward strategy.
Over the years the knowledge and commitment of our staff has earned us primary relationships with many of our customers in both the metals & mining and oil & gas sectors.
ING is of the opinion that accelerating the pace of innovation as well as thinking beyond traditional products is becoming increasingly important when dealing with changing customer needs and business models. While the commodities industry and the aspirations of its members remain inherently cyclical, us forever young commodity bankers have no choice but to accept the responsibility of managing expectations of clients, our banks and, especially perhaps, our own. Be careful out there and don’t forget to have fun doing it!”
global head of global trade receivables finance, HSBC
“We are delighted to be voted Best Global Trade Finance Bank by the readers of GTR, a recognised industry leader in the trade finance press.
This award is testament to the hard work and dedication of our teams globally, those who help customers find the right solution, who create products and service our clients.
I believe HSBC’s network, products and expertise are unrivalled in the industry and I am very proud of the work we do in support of our commercial and global banking customers. Congratulations to everyone involved in winning these awards.”
global head of export finance, Société Générale
“To be voted Best Global Export Finance Bank in the GTR annual poll is the icing on the cake for another fantastic year. We would like to thank our clients, partners and staff for their continuous support in making export and development finance a key component of tomorrow’s economy.
In a climate of constant change we continue to adapt our strategy to answer the evolving needs of our clients. Surpassing boundaries, we have customised our financial solutions and invested into new markets.
Among the ever-growing industrial sectors of infrastructure, power and telecom, SG CIB financed in 2014 one of the largest telecommunication deals in the Middle East, the most important power deals in Vietnam, the hydropower-related network line for Cambambe Phase 2 to Catete in Angola and the extension of the Santiago metro network in Chile.
Fully aware of our role in assisting the economic sphere, we are conducting our activities in a responsible way, making sustainable development and corporate social responsibility a cornerstone of our business to develop the real economy.
Société Générale is celebrating its 150th anniversary. Our history is not just about the past, it is also about what we are today and what we want to be in the future.”
chief executive, UKEF
“With companies such as Barclays, Citi, Deutsche Bank, HSBC and RBS all winning awards in the trade finance and global trade finance sectors of the GTR Leaders in Trade 2014, the award puts UKEF in good company. It also follows UKEF’s delivery of innovations that include the launch of both the Direct Lending Facility, which supported its first loan in early October, and the Export Refinancing Facility, as well as the extension of guarantees or offshore renminbi-denominated loans – a first for an ECA. At the same time, UKEF has strengthened its short-term product offering, supporting contracts worth over £1bn already in 2014, with over 200 companies and contracts worth over £2bn supported since their launch.
Added to the announcement that UKEF will guarantee a sukuk bond for the first time early this year and plans to simplify the application and approval process to help small and medium-sized enterprises (SMEs), it has been a highly productive year for UKEF.With companies such as Barclays, Citi, Deutsche Bank, HSBC and RBS all winning awards in the trade finance and global trade finance sectors of the GTR Leaders in Trade 2014, the award puts UKEF in good company.
It also follows UKEF’s delivery of innovations that include the launch of both the Direct Lending Facility, which supported its first loan in early October, and the Export Refinancing Facility, as well as the extension of guarantees or offshore renminbi-denominated loans – a first for an ECA. At the same time, UKEF has strengthened its short-term product offering, supporting contracts worth over £1bn already in 2014, with over 200 companies and contracts worth over £2bn supported since their launch.
Over the past couple of years we have successfully introduced and embedded our regional team of export finance advisers, provided Airbus with credible and competitive capital markets funding solutions, and have secured eligibility for UKEF paper to be discounted at the Bank of England’s Discount Window – helping banks with their liquidity ratios.
GTR is a respected publication, whose trade conferences and seminars are among the best attended in the calendar. That it is their readers who have voted for us, is especially pleasing. This is a vote of confidence for the whole UKEF team and we are delighted.”