DBS emerged as the big winner at the conclusion of The Asset Triple A Treasury, Trade, Supply Chain and Risk Management Awards 2017, bagging the highly-coveted Transaction Bank of the Year award.

In an Oscar-style ceremony held Tuesday evening at the Four Seasons Hotel in Hong Kong, the Singapore bank was also judged the Best Treasury and Cash Management Bank, while Deutsche Bank won the honours as the Best Working Capital and Trade Finance Bank.

Adopting a five-year strategic roadmap to transform its transaction banking franchise through 2020, DBS has tailored its product management, established dedicated client management and has created digital global transaction services. Accelerating its cash management business, the bank posted a 30% year-on-year growth in cash management revenue, achieving broad-based growth in Singapore, Hong Kong, China, Taiwan and India. It overcame the difficult trade environment by diversifying into new trade corridors such as Bangladesh and Vietnam, and established strategic alliances with financial institutions to develop regional guarantee business beyond the DBS’ network.

Hurdling a difficult year amid the challenges back home, Deutsche Bank managed to outperform its peers during a period of continued slowdown in imports and exports. The bank differentiated itself by supporting its clients in value-added, high-margin transactions, instead of the commoditized business that was widely available in the market. It captured opportunities by shifting from US dollar to local currencies in providing working capital financing, particularly in large domestic markets such as China and India.

For the full list of winners, please click here.