Local banks came undone in cash and liquidity management, with global and regional banks asserting their dominance taking four out of the top five places in Asset Benchmark Research’s (ABR) Client Satisfaction Index (CSI).

ICBC, Bank of China, China Construction Bank, Tapei Fubon Bank, and Agricultural Bank of China all slipped in the rankings. Newcomers to the rankings, E.Sun Bank in Taiwan, Bank Danamon in Indonesia, and China CITIC Bank took eleventh, twelfth, and fourteenth place, respectively. Bank of Communications stood out among the local banks taking fourth place, managing to push Citi into fifth. Meanwhile, HSBC, DBS and Deutsche Bank claimed the top three places.

Asset Benchmark Research conducted their annual Treasury Review in early 2017. As part of the review, respondents were asked to score banks they work with in treasury, cash management and trade finance. These ratings form the basis of the CSI, which incorporates the views of 790 participants via an online questionnaire and a series of one-on-one interviews.

HSBC secured the top spot in the CSI rankings for cash and liquidity management, jumping from tenth place last year with a rating of 43.7%, to first place with a rating of 66.7%. HSBC enjoys a strong presence in key markets in Asia, helping clients with cash flows with its payables, cards, receivables and clearing services, as well as with liquidity and investment solutions. Last year, HSBC introduced the Liquidity Investment Solutions (LIS) product for corporates to invest excess liquidity.

DBS, a new entrant to the rankings, took second place with a rating of 65.5%. DBS offers a range of deposit accounts, payables and receivables management services, and liquidity management solutions to manage cash flow. 2016 was an impressive year for the DBS cash management business with revenue up 30% year-on-year. DBS also offers a digital banking channel, IDEAL, to give greater control and access to funds across multiple accounts.

Deutsche Bank takes third place, slipping from first place in 2016, although still improving their rating from 55.4% to 64.2%. In Asia, Deutsche Bank has a presence in 14 countries across the region, providing dedicated sales, implementation and service teams. In March, Deutsche Bank announced structural changes that would result in an integrated corporate and investment bank, which will comprise the bank’s corporate finance, global markets and global transaction banking businesses.

As part of the CSI survey, participants were asked to rank the most important factors when selecting a provider of cash management services. Respondents consistently responded that the quality of the service was the most important, followed by pricing, and then the bank’s reputation. A transactional bank’s geographic coverage and relationship with regulators were among the least important considerations for treasurers and CFOs.

To see the rankings and information about our methodology please click here.

To learn more about the Treasury Review please click here.

For country and service analyses please get in touch with ABR at [email protected]