A trend that was already under way is set to accelerate as companies realise the importance of better oversight of day-to-day financials.

Retrenchment from peripheral markets has been a trend for the past 10 years – but banks are now rediscovering the benefit of geographical diversification in transaction banking.

Even though this business is notoriously sticky, Goldman Sachs’ entry into cash management business could shake up the industry.

Aggressive accounting is as old as balance sheets, so why are we always surprised when inaccurate or bad-faith accounting causes companies to falter or even fail? Why is the dark side of accounting so hard to illuminate?

There are only two truly global, fully fledged cash management banks today, but the digital arms race in transaction services gives far more banks the opportunity to be world class.

Changes to the US corporate tax code are aimed at driving more onshore investment. For treasurers, this will mean reassessing their current global cash management structures.

Regulations intended to make the correspondent banking network safer have stifled the ability to operate, say bankers. Yet the need for the service continues and requires new ways of thinking.

Asia’s disparate markets and economies have found common ground in the widespread adoption of digital technology. Starting with consumer clients, expectations are rising up the banking chain and banks need to keep pace.

At first glance Euromoney’s global cash management survey 2017 results suggest that it is business as usual, but digging a little deeper into the rankings reveals that some regionals are setting new standards in quality of service.

A focus on clients with a strong connection to Switzerland allows the bank to forge particularly close relationships and deliver a quality service.

The bank has come a long way in the GTS business in a short time – it took the top spot in Japan last year, and the last 12 months have been about establishing itself in the rest of Asia.

The firm has invested heavily in its GTS offering in recent years – this year’s rankings see it rise on a tide of high customer satisfaction with its suite of new products.

Scale is important in cash management, but it is not everything. For clients it is the people, the services and the products that count. Often the best-in-class are regional specialists rather than the global giants, as Euromoney’s unique Five-Star Cash Manager analysis shows.

Here you will find more detailed results and analysis of Euromoney's Cash Management Survey 2016.

To say thank you for participating in our cash management survey this year, Euromoney hosted a champagne reception at Searcy's Champagne Bar. The event brought together more than 60 attendees from a senior audience in the transaction services industry, and featured analysis on this year’s results.

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

Results index Regional results: Which ICMs do you use most?

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.

Results index

View results Euromoney surveys cash managers, treasurers and financial officers worldwide. The survey is split into a non-financial institutions questionnaire and a financial institutions questionnaire. Respondents are asked:

View the results of almost 35,000 survey responses from treasury professionals, and find out which cash managers get our stamp of approval for the quality of their service to clients.

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.

Best domestic cash manager

Euromoney surveys cash managers, treasurers and financial officers worldwide. The survey is split into a non-financial institutions questionnaire and a financial institutions questionnaire. Respondents are asked to indicate:

Asiamoney’s Cash Management Poll has merged with the Euromoney Cash Management Poll to form one poll using just one questionnaire. This single questionnaire will produce results for both Asiamoney and Euromoney and these results are published separately. The categories and mechanics of the poll follows those of previous year.

Back to results index

Back to full results index Euromoney surveys cash managers, treasurers and financial officers worldwide. The survey is split into a non-financial institutions questionnaire and a financial institutions questionnaire. Respondents are asked to indicate:

View full results index

. Which ICMs do you use most in Asia?