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Euromoney says:
The top five group of banks for corporate FX has remained remarkably consistent over the past four years, with only Société Générale breaking them up in 2014, when it was ranked fourth. This year the French bank slips to sixth place in the sector.
FX rank and market share – |
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Source: Euromoney FX Survey |
Among clients where other banking relationships are important to FX business, it’s no surprise that universal banks dominate the rankings. In a year when HSBC slid down the overall rankings from fifth to seventh place, it will take comfort in wresting the corporate crown from Citigroup.
This is the first time that Citi has not been the top-ranked corporate FX house in the 37-year history of the EuromoneyFX survey.
Corporate business is arguably the most profitable for FX banks, and competition for trades is always fierce. But the gap in volumes between the top and fifth-ranked banks is the closest it has been in the recent history of the survey. It’s also a rare bright spot for RBS, which actually increased its market share by more than 0.5