Criteria for choosing the winners included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. Global Finance also considered input from a panel of experts and feedback from industry analysts, corporate executives and technology specialists.
Table Of Contents
CITI was named as the global winner.
“Continued low—or negative—interest-rate policies in place at many developed-market central banks, combined with negative market news and regulatory uncertainty, have all taken a major toll on the FX business at the world’s banks, and market-changing technology continues to cut into the pie, as well,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance.
“The winners of the Best Foreign Exchange Provider Awards have navigated these murky waters well, while providing market-leading execution to their corporate clients.”
GLOBAL AWARD |
|
|---|---|
|
Best Global Foreign Exchange Bank 2016 |
Citi |
REGIONAL AWARDS |
|
|---|---|
|
North America |
Bank of America Merrill Lynch |
|
Western Europe |
Deutsche Bank |
|
Nordic Countries |
Nordea |
|
Central & Eastern Europe |
Société Générale |
|
Latin America |
Citi |
|
Asia-Pacific |
ANZ |
|
Southeast Asia |
DBS Bank |
|
Africa |
Standard Bank |
|
Middle East |
National Bank of Kuwait |
BEST FX RESEARCH & ANALYSIS |
|
|---|---|
|
FX Research |
BNY Mellon |
|
Fundamental Analysis |
Brown Brothers Harriman |
|
Technical Analysis |
BNY Mellon |
|
Forecasts |
ING |
BEST ONLINE TRADING SYSTEMS |
|
|---|---|
|
Best Bank System |
State Street's Currenex |
|
Best Independent |
Thomson Reuters |
|
Best Retail |
FXCM |
CORPORATE CURRENCY HEDGING |
|
|---|---|
|
Best Bank for Corporate Currency Hedging |
Citi |
|
Best Bank for Cash Flow Hedging |
HSBC |
|
Best Bank for Balance Sheet Hedging |
Société Générale |
|
Best Bank for FX Options |
Deutsche Bank |
|
Best Bank for FX Forwards |
Bank of America Merrill Lynch |
COUNTRY WINNERS |
|||
|---|---|---|---|
| Algeria | Bank ABC in Algeria | Kuwait | National Bank of Kuwait |
| Angola | Standard Bank Angola | Kyrgyzstan | KICB |
| Argentina | BBVA Banco Frances | Latvia | SEB |
| Armenia | Ameriabank | Lebanon | BLOM Bank |
| Australia | ANZ | Lithuania | SEB |
| Austria | Bank Austria | Macedonia | Komercijalna Banka AD Skopje |
| Bahrain | Bank ABC | Malaysia | CIMB |
| Belarus | Belarusbank | Mexico | BBVA Bancomer |
| Belgium | KBC Bank | Moldova | Moldova Agroindbank |
| Bermuda | HSBC | Mongolia | Golomt Bank |
| Bolivia | Banco BISA | Morocco | Attijariwafa Bank |
| Botswana | Stanbic Bank Botswana | Netherlands | ING |
| Brazil | Itaú Unibanco | New Zealand | ANZ |
| Bulgaria | UniCredit Bulbank | Nigeria | Access Bank |
| Canada | Scotiabank | Norway | Nordea |
| Chile | Banco Santander Chile | Oman | Bank Dhofar |
| China | ICBC | Pakistan | Standard Chartered Bank |
| Colombia | Banco de Bogota | Paraguay | Banco Itaú Paraguay |
| Costa Rica | Scotiabank | Peru | Scotiabank |
| Côte d'Ivoire | Ecobank | Philippines | BDO Unibank |
| Cyprus | Bank of Cyprus | Poland | mBank |
| Czech Republic | Komercni banka | Portugal | Banco Santander Totta |
| Denmark | Danske Bank | Qatar | Qatar National Bank |
| Ecuador | Citi | Romania | BRD |
| Egypt | Commercial International Bank | Russia | VTB Capital |
| El Salvador | Citi | Saudi Arabia | SABB |
| Estonia | SEB Pank | Sierra Leone | UBA Sierra Leone |
| Finland | Nordea | Singapore | DBS Bank |
| France | BNP Paribas | Slovakia | ČSOB |
| Gambia | Ecobank | Slovenia | Nova Ljubljanska Banka |
| Georgia | TBC Bank | South Africa | Standard Bank |
| Germany | Deutsche Bank | South Korea | KEB Hana |
| Ghana | Zenith Bank | Spain | BBVA |
| Greece | Piraeus Bank | Sweden | SEB |
| Guatemala | Banco Industrial | Switzerland | Credit Suisse |
| Honduras | Citi | Taiwan | Cathay United Bank |
| Hong Kong | HSBC | Thailand | Siam Commercial Bank |
| Hungary | OTP Bank | Togo | Ecobank |
| India | ICICI Bank | Turkey | Akbank |
| Indonesia | DBS Indonesia | UAE | National Bank of Abu Dhabi |
| Iran | Bank Saderat Iran | Ukraine | PrivatBank |
| Ireland | Bank of Ireland | United Kingdom | HSBC |
| Israel | Bank Leumi | United States | Citi |
| Italy | UniCredit | Honorable Mention | BNY Mellon |
| Jamaica | National Commercial Bank | Uruguay | Citi |
| Japan | Nomura | Venezuela | Banco Mercantil |
| Jordan | Arab Bank | Vietnam | Techcombank |
| Kazakhstan | Halyk Bank | Zambia | Stanbic Zambia |
| Kenya | CfC Stanbic Bank | ||
***When referencing this release, please include a link to GFMag.com and a link to coverage of the awards at https://www.gfmag.com/media/press-releases/global-finance-names-worlds-best-foreign-exchange-providers-2016 as well as the ‘About Global Finance’ paragraph below. Thank you.
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,050 and readers in 180 countries. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance also targets the 8,000 international portfolio investors responsible for more than 80% of all global assets under professional management.
Its website — GFMag.com — offers analysis and articles that are the heritage of 28 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.
For editorial information please contact:
Andrea Fiano | afiano@gfmag.com
To obtain rights to use Global Finance’s awards logo, please contact:
Chris Giarraputo | chris@gfmag.com
The unauthorized use of Global Finance Award logos is strictly prohibited.
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