Bank of America Merrill Lynch wins the award for the best investment bank in the region.

BAML has moved beyond being a financier to become the lead strategic adviser to a select target group of large corporations.

Bank of America Merrill Lynch wins the award for best bank for advisory.

Austria’s best bank notched its best result to date last year on the back of a recovery in its emerging Europe operations. But while the group’s international network tended to grab the headlines, the domestic business also put in another strong showing.

The Argentine banking system is beginning to return to a semblance of normality, with signs such as positive interest rates. But the road back to international standards is a long one. After many years of economic dysfunction and highly prescriptive banking regulations (including mandatory lending to segments and floors and caps on interest rates), it will take a long time for an orthodox banking sector to appear.

Charting the evolution of the FX industry.

Euromoney magazine has released the results of its 39th annual foreign exchange ranking, the most comprehensive quantitative and qualitative annual study available on the FX markets.

Overall market share Overall banks only Overall non-bank liquidity providers only Spot/forward market share Swap market share Options market share Emerging market currencies market share

It is tough to create a franchise in global finance, but over the last five years Christian Meissner has mixed a potent cocktail at Bank of America Merrill Lynch’s global corporate and investment bank. Can it build its relationships with key clients to the point where it becomes a true challenger to JPMorgan and Goldman Sachs?

Banks might want to stop blaming regulators for delays in opening accounts for businesses and the high costs of international payments and FX, because if they don’t do a better job, challengers will.

Last year was far from a vintage year for the big five US corporate and investment banking franchises, with almost no business lines seeing an overall increase in revenues in 2016, but the gains in fixed income sales and trading were enough to inch CIB division revenues up by 1.4% to $142 billion.

Remember the days when it was investment bank divisions that were the drag on banks’ group cost-to-income ratios?

The increasing dominance of global investment banking by US firms is hard to ignore.

The election of Donald Trump prompted a vicious sell-off in global bonds. Investors face the new year with warnings over volatility and inflation ringing in their ears. Will it be as bad as they think?

Bank stocks rallied after Trump’s victory in the US election on hopes that higher trading revenue will outweigh potential disruption to global trade. A second act for traders now beckons.

The oil and gas sector has so far avoided making wholesale change to its treasury processes, but as the low price environment continues, firms are now being forced to explore cost cutting.

Revenues still depressed by poor ECM; DCM and M&A resilient but at low levels.

Some landmark deals from international banks are pioneering the green-bond structure in Latin America. But until the region begins to sell in local currency to local investors, the potential will remain unfulfilled.

Results index

Results index Global All transactions 2016 2015 Bank Score 1 2 HSBC 6548 2 3 Citi 3830 3 1 Deutsche Bank 3116 4 13 Bank of New York Mellon 1728 5 14 Sumitomo Mitsui Banking Corporation 1536 6 8 JPMorgan 1534 7 5 Commerzbank 1359 8 4 Bank of America Merrill Lynch 1339 9 6 Standard Chartered 1305 10 7 Barclays 1303 11 9 Bank of Tokyo-Mitsubishi UFJ 1209 12 32 Industrial & Commercial Bank of China 1057 13 45 DBS Bank 1045 14 12 Wells Fargo 823 15 11 Bank of China 817 16 19 Societe Generale 721 17 18 Mizuho Bank 692 18 16 UniCredit 607 19 21 ADCB 605 20 15 RBS 535 21 10 BNP Paribas Fortis 504 22 Cathay United Bank 501 23 22 Yapi Kredi 355 24 UOB 352 25 ANZ Banking Group 340 26 23 ING Group 265 27 35= Agricultural Bank of China 251 28 29 Akbank 250 29 17 RZB 223 30 137= Bank Mandiri 218 31 42 Arab Bank 194 32 39 Bank of Communications 193 33 28 UBS 189 34 ATF Bank 188 35 208= Bank Central Asia 182 36 BNI 46 162 37 CIMB 156 38 38 Danske Bank 152 39 65= Banco BPI 144 40 208= Bangkok Bank 132 41 Siam Commercial Bank 126 42 40 Credit Agricole 122 43 34 BBVA 118 44 Hang Seng 116 45 41 Lloyds 114 46= 27 Garanti Bank 110 46= 74= Bancolombia 110 48 Bank Danamon 107 49 NAB 106 50 Bank of Nanjing 103

While HSBC scores a notable double in Euromoney’s annual global rankings, the record response rate of almost 35,000 validated votes generated a host of changes at the upper end of our cash management survey. Regional banks move to the fore and some previous global leaders have dropped back.

Almost 35,000 companies and financial institutions vote, a record response rate; HSBC wins globally for both client sectors; and there are big changes at the upper end of cash management survey, with regional banks to the fore and some once global leaders dropping back.

The internet has created a new kind of company that needs to be international and multi-currency from the outset. They are businesses that usually understand technology better than their banking partners. So how are the world’s leading cash managers meeting the challenges posed by these new clients?

Asian developers dominate the 2016 Euromoney real estate survey, but the biggest changes are revealed among the global banks providing real estate finance.

The fixed-income sales and trading business of the big US banks took a bath in the first quarter of this year, with revenues down by between 10% and 40%. But although not immune from market and geopolitical upheaval, the second quarter could not have looked more different.

These are miserable times in Australian banking, which is suffering issues ranging from banking culture to credit quality as the commodity cycle ends. Commonwealth Bank has reputational issues around its CommInsure unit, while both ANZ and Westpac are under investigation for rate manipulation.

Results index The current climate of stagnant growth and low interest rates has prompted many companies in North America to start looking for opportunities beyond their borders, some for the very first time. Helping them on that step has been Bank of America Merrill Lynch, which this year wins the award for North America’s best bank for transaction services.

As financing becomes more strategic, the bank is showing where its greatest strengths lie.

Results index Bank of America Merrill Lynch has made strong progress in the smaller corporate market. The bank serves one in three companies operating in the US – that is 46,000 small to medium-sized enterprises – and wins Euromoney’s award for North America’s best bank for SMEs.