By Morgan Davis
Measuring a bank’s success is not a fixed science. Banks put forward their favoured numbers to support their claim to be the best, such as deal volume, total assets under management or overall bank size. But the subjective ability of a client to recommend their bank to others speaks volumes. This year, Asiamoney asked trade finance clients how they rated their banks, and their responses show just how important some Asian banks have become.
At the end of 2018, sister magazine Euromoney asked more than 7,000 consumers of trade finance services from 89 countries to rank and assess their top providers domestically, regionally and globally. The respondents rated their providers’ products and services on a scale ranging from ‘unsatisfactory’ to ‘exceptional’.
In the questionnaire, respondents were asked to rank the importance of products and services – such as letters of credit, compliance and due diligence, as well as digital trade finance capabilities – in selecting their main trade finance provider. They were also given the opportunity to examine the execution of their trade finance services, with a closer look at areas including pricing, support and advisory services.