Awards recognizing the strongest banks in China, as Chinese bankers take leading roles on the global stage.
In 2005, UBS became the first foreign securities firm to receive a license to operate in China. The Zurich-based bank took advantage of the head start to establish itself as a major player in China’s domestic investment banking industry. UBS ranked sixth overall in China-related investment banking revenue last year and first among foreign banks, according to Dealogic. The bank’s CEO announced earlier this year that UBS will double its staff in China over the next five years.
Standard Chartered was among the first international banks to launch subcustody services when the B share market opened to foreign investors in 1992. Since then, the bank has continued to lead the way, serving as an adviser not just to clients but to regulators as well. Standard Chartered offers clients a specialized interface for subcustody services and assigns individual agents to each client. The investments, both in the past and now, are paying off for the bank, which saw its first-half assets under custody rise 61%, assets under administration grow 121% and revenue increase 161%.
DBS relies on its ever-growing presence in China, across Asia and around the world to provide top-notch trade services to international clients operating in China and domestic companies expanding abroad. The bank offers a wide range of services, including preshipment financing, inventory financing and renminbi bank guarantees, and has seen tremendous growth in its open-account trade finance this year, with the revenue expanding at an annualized rate of 143% in the first half of the year.
Treasury and Cash Management
DBS’s Global Transaction Service team tracks clients’ cash cycles, compares their performance against industry norms and select peers to identify opportunities to improve liquidity and reduce risks. The team’s innovative approach has attracted new clients at a rapid rate, with institutional investor deposits expanding at an average annual rate of 11% since 2009 and overall cash management revenue rising by an average annual rate of 25% in the same period. DBS also was among the first foreign banks to open branches in the Shanghai Free-Trade Zone and now boasts more than 100 clients for its free trade account.