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.”


Best Global Foreign Exchange Bank 2016



North America

Bank of America Merrill Lynch

Western Europe

Deutsche Bank

Nordic Countries


Central & Eastern Europe

Société Générale

Latin America




Southeast Asia

DBS Bank


Standard Bank

Middle East

National Bank of Kuwait


FX Research

BNY Mellon

Fundamental Analysis

Brown Brothers Harriman

Technical Analysis

BNY Mellon




Best Bank System

State Street's Currenex

Best Independent

Thomson Reuters

Best Retail



Best Bank for Corporate Currency Hedging


Best Bank for Cash Flow Hedging


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


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 and a link to coverage of the awards at 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 — — 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 |

To obtain rights to use Global Finance’s awards logo, please contact:
Chris Giarraputo |

The unauthorized use of Global Finance Award logos is strictly prohibited.


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