HSBC remains Asia’s dominant corporate bank, according to Greenwich Associates. The consultancy studied both the number of companies with which banks do business in general corporate banking and debt capital markets and the quality ratings awarded to the bank by their Asian corporate clients.
Fifty-six percent of large Asian companies (annual turnover of at least US$500m) name HSBC as one of their top five banking relationships, and 36% of companies name HSBC as a top five provider in debt capital markets. Also winning the designation of Greenwich Share Leader in Corporate Banking were Citi and Standard Chartered Bank, both of which achieved a market penetration of 46-47%.
Every year, Greenwich Associates interviews senior financial executives at the largest Asian companies about their banking relationships. These executives are asked to name the banks they use in overall corporate banking, cash management and capital markets advisory services, to quantify the share of their business allocated to each bank and to rate these banks according to a series of important criteria. Banks that receive the largest number of citations as corporate banking relationships or compile the largest market shares are named Greenwich Share Leaders. Banks receiving quality ratings that exceed those awarded to competitors by a statistically significant margin are named Greenwich Quality Leaders.
The 2010 Greenwich Quality Leaders in Asian Corporate Banking Coverage are Citi, Deutsche Bank and HSBC. The Greenwich Quality Leaders in Debt Capital Markets Coverage are Bank of America Merrill Lynch, Citi, Deutsche Bank, HSBC, and JP Morgan.
The 2010 Greenwich Share Leaders in Asian Cash Management are HSBC, with a market penetration of 50%, Citi, at 44%, and Standard Chartered at 42%. The 2010 Greenwich Quality Leader in Asian Cash Management is Deutsche Bank.
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