For the latest 18th Annual Best FI Awards 2024 awards outcome, please click here.
For the 17th Annual Best FI Awards 2023 awards outcome, please click here.
For the 16th Annual Best FI Awards 2022 awards outcome, please click here.
18th Best FI Awards 2024
13 May 2024: This is Alpha Southeast Asia’s 18th Annual Financial Institution (FI) Awards. This year, we have tightened the focus of this awards series in each country by expanding the breadth and depth of this evolving awards series. The awards period cover deals and transaction volumes from May 2023 to April 2024.
For the eighteenth year running, we have continued to examine the credentials and track record of a select group of Asian financial institutions and as part of this effort, announce the outcome of our special Marquee awards including; Best SME Bank in Southeast Asia; Best Broker in Southeast Asia; Best Private Bank in Southeast Asia; as well as well as Best Transactional Banking Online Platform.
In almost every category and unlike most mainstream platforms, the winners are not necessarily the biggest banks by asset size but awarded on the basis of performance and growth over the past one year. Also, all fifty-eight awards are exclusively and categorically open to only locally incorporated banks and financial institutions or banks headquartered in Southeast Asia. Local banks that are, able to demonstrate unrivalled commitment to both, local corporate and non-banking financial institution clients as well as state-linked agencies and departments not only within their borders but in some cases, within Southeast Asia.
Some of the key surprises over the last decade include the emergence of Asian-domiciled banks at the top of the equity, debt and M&A league tables across the region as bulge bracket global investment banks were forced to recalibrate their presence in key markets across Asia in recent years.
BEST BANK
| INDONESIA | Bank Central Asia |
As one of the most innovative and quick moving banks in the country, Bank Central Asia has come a long way over the last decade. The bank today serves tens of million’ in a country with a fundamentally strong economy, a sound political environment and a booming domestic consumption market for both, Indonesian and foreign goods and services. Capitalising on the economic growth is none other than the largest bank in the country by asset size, earning assets and deposit size, a clear testament of the confidence retail customers and corporate & commercial customers have in the bank that has strategically benchmarked its growth along with the country’s economic growth and GDP.
| MALAYSIA | Public Bank |
Over the last eighteen years, if there is one benchmark investors use to judge banks, it has to do with balance sheet strength. Public Bank easily epitomises how far a bank would go to stick to what it does best: plain vanilla bank lending and being there for its customers however intense the competition. While most other Malaysian banks are increasingly looking at markets beyond Malaysia, Public Bank continues to entrench its heels deeper and strengthen its local market position year after year, making the bank the most reliable, secure and strongest bank in the country by a wide margin, thanks to strong growth in loans and core customer deposits as well as its stable asset quality, keeping this award with the bank for the eighteenth consecutive year.
| PHILIPPINES | BDO Unibank |
Despite the severe impact of the economic uncertainty on the wider economy, BDO, thanks to its resilient operations and driven primarily by its core businesses, is today the best bank in the Philippines. It has achieved market leadership across a number of important business lines on a strengthened business franchise, and this has led to an increase in the bank’s overall market share. Given the global economic slowdown, the resilience of the local economy has helped banks like BDO maintained its market share. While underlying profitability has taken a hit, it remains the bank of choice for corporate, commercial and retail customers, winning this award for the thirteenth time in the last 18 years.
| SINGAPORE | DBS Bank |
If we had to name a bank that could grow quicker through M&As but has proven how best to organically grow its regional footprint with enviable shareholder returns to match, DBS Bank would appear at the top of this list. The bank however has proven how it is not satisfied being the largest and strongest bank in Singapore, which serves as a launching pad for many companies with business interests in the Asia. Therefore the bank has today built a large, sustainable banking platform across Asia both, organically and through acquisitions. In terms of market capitalisation, the bank ranks in the low forties in the world today given its balance sheet strength, product depth as well as dominant market share, unfailingly indicating how the bank will continue to trail-blaze its way to the top, regardless of mounting local, regional and global competition.
| VIETNAM | Vietcombank |
Following years of industry-wide banking restructuring and consolidation, Vietcombank is fast emerging as a bank of choice not only among corporate and treasury clients but increasingly, retail customers spread across Vietnam today. With a strong balance sheet and a simple unyielding focus on the lending business, the bank is one of the most profitable banks in the country today. In almost every metric measured against, Vietcombank excels including key financial ratios such as pre- and post-tax profits, the NPL ratio, provisioning, ROE, CAR, and NIM as well as total assets, total loans, total deposits and total branch numbers, making the bank one of the best benchmarks for the Vietnam economy today, winning this award for the tenth time in the last 18 years.
BEST SME BANK
| INDONESIA | Bank OCBC NISP |
As one of the most innovative and quick moving banks in the country, Bank OCBC NISP has come a long way over the last decade. The bank today serves millions in a country with a fundamentally strong economy, a sound political environment and a booming domestic consumption market for both, Indonesian and foreign goods and services. Capitalising on the economic growth is none other than one of the most agile banks in the country. On the SME front, it leads by asset size, earning assets and deposit size, a clear testament of the confidence SME clients have in the bank that has strategically benchmarked its growth along with the country’s economic growth and GDP. Therefore, the award for Best SME Bank in Indonesia goes to Bank OCBC NISP, for the sixth consecutive year.
| MALAYSIA | AmBank |
The SME business segment is a major driver of the country’s economy and constitutes a substantial part of Maybank’s main commercial loan to its customers. The bank also actively promotes competitive loan products including those which provide an avenue for SMEs to seek low interest rate financial assistance, originated by the Credit Guarantee Corporation (CGC) that provide for guarantee cover by CGC without any guarantee fees charged to the SMEs. The bank’ main proposition centres around convenience and serving the needs of the community, including individuals, SME and commercial customers and therein lies its secret that has made AmBank a preferred banking partner among SMEs in the country.
| PHILIPPINES | BPI |
What makes the bank unique is the fact that not only are SMEs across the Philippines served at the business centers located inside select number of bank branches but all bank branches across the country are today equipped with the knowledge and expertise of serving the needs of SMEs, however large or small. As a result of the bank’ aggressive enhancement of processes, structural changes, product innovation, and communication strategy, the bank’s market penetration of the MSME sector has continued to rise year after year. For its unique commitment in helping SMEs grow and transform into tomorrow’s blue chips, the award for Best SME Bank in the Philippines goes to BPI , winning the award for the eleventh time in 18 years.
| SINGAPORE | OCBC Bank |
In the current era of fast-paced digital banking, OCBC Bank (OCBC) stands out from the crowd. Not has the bank meticulously managed to enlarge its SME footprint, OCBC remains uniquely committed to servicing SMEs both with local and cross-border financing needs. The bank has one of the widest variety of credit products and provides far reaching and practical advisory services for its borrowing and non-borrowing customers. OCBC also remains one of the few banks in Asia that will not hesitate to invest in both manpower skills and technological upgrades or anything that enhances internal processes and produces positive structural changes, all the while listening closely to what SMEs need, however divergent. With an entrenched market share that has continued to grow as it expands its pan-Asian network with global reach, OCBC Bank is likely to remain the Best SME Bank for a number of years to come, having won this award for twelve consecutive years.
| THAILAND | Siam Commercial Bank |
Siam Commercial Bank (SCB) is growing from strength to strength. The bank today has one of the most powerful SME platforms in the country, thanks to the complacency of key players in this segment. Apart from the normal range of credit products developed specifically for SMEs, SCB provides wide ranging advisory services on business opportunities and trade reports for its borrowing and non-borroweing customers. At present, it also offers working capital loans, various forms of credit lines, trade finance and remittance, collection and payment, insurance and foreign exchange services to a large number of Thai SME businesses. Therefore, the award for the Best SME Bank in Thailand goes to Siam Commercial Bank for its focused and unrivalled commitment to this important segment, winning this award for the eleventh time in 18 years.
BEST BOND HOUSE
| INDONESIA | IndoPremier Sekuritas |
IndoPremier Sekuritas had one of its best years on record yet again during the most recent awards period as well as over the last ten years when viewed in perspective. According to figures on Bloomberg, it was the largest debt underwriter in Indonesia over the last twelve-month period, representing a significant achievement, making it truly the most committed players in the Indonesian bond market space. Over the years, the bond house has also built a unique distribution platform among pension funds, asset managers, insurance companies and banks and has taken part in a number of notable transactions. Unlike most bond houses however, IndoPremier Sekuritas is not only the largest corporate bond market underwriter in the country, the leading fixed income player is also a market leader in the area of secondary market bonds trading as well, winning this award for the seventh consecutive year.
| MALAYSIA | CIMB Investment Bank |
In 2023-2024, CIMB Investment Bank successfully retained its pole position in the Malaysian bond market in terms of amount raised during the awards period. Ranked number one in MYR Sukuk and MYR Bonds, both by volume and number of issues, CIMB Investment Bank was able to deliver landmark transactions which created and raised industry benchmarks, while helping clients during what was no doubt a very challenging and volatile period – a testament of its position as the preferred debt house by Malaysian issuers. From RP Hydro, MTT Shipping to UEM Group, ROI & Khazanah, the leading bond house has demonstrated it deep-seated relationships and capabilities are at benchmarks itself, thus winning this fiercely contested award for the thirteenth time in 18 years.
| PHILIPPINES | BDO Capital & Investment Bank |
Following the re-emergence of the Philippines on the radar of foreign institutional investors in recent years, the landscape of bond underwriters has also widened and a number of bank-backed players have continued to make their mark in the local currency fixed income space. One such player is BDO Capital & Investment Bank that has found itself ranked in the top quartile for the past decade clinching its way to the top of various local currency league tables, successfully completing key notable issues in a decade when markets were at best volatile. Over the last few years, it has continued to aggressively build up its profile among leading credits in the Philippines and successfully closed a growing number of notable transactions, winning the award for the eleventh time in 18 years.
| SINGAPORE | UOB Bank |
UOB Bank is both, a leading market maker and dealer in SGD government, statutory board and corporate bonds. UOB has not only have completed bond issues for almost every Statutory Board that has issued in the SGD bond market but is a preferred go-to bond house in the private sector. According to Bloomberg, UOB has been ranked one of the top bookrunner of SGD bonds over the last eighteen years beating the likes of foreign banks active in the local bond market. In fact, UOB has been consistently ranked the top bookrunner of SGD bonds for a number of years now. Despite enduring what is shaping up to be a very challenging year, UOB has maintained its leadership position, a clear indication how corporate Asia views UOB, and why competition continues to pale in comparison.
| THAILAND | Kasikornbank |
Kasikornbank is a top-tier debt underwriter both in quantitative and qualitative terms. With a dominant market share, Kasikornbank has successfully placed a large amount of USD equivalent Thai baht issues with both institutional and retail investor, generating strong demand and playing a key role in developing optimal pricing for all parties involved. With an unrivalled retail placement capability, the leading bond house is able to meet funding demands, large and small through its intricately built system benefiting both Thailand-based credits as well as local and foreign investors, The fact that the bank primarily focuses on local investors, both institutional and retail, also make Kasikornbank the most reliable partner in the local debt market today among local and foreign corporate treasurers and CFOs in Thailand.
| VIETNAM | SS1 Securities (SSI) |
SSI Securities is among the largest, most connected securities firms in Vietnam today. In recent years, SSI Securities has built up an extensive track record in bond issuance advisory. The leading bond house is however not only active in the primary bond market but increasingly active in the government-led secondary bond market as well and while its rankings have changed over the years, SSI Securities has also maintained its pole position among the top three players in the emerging local currency bond market in Vietnam.
BEST EQUITY HOUSE
| MALAYSIA | CIMB Investment Bank |
During the awards period, CIMB Investment Bank dominated the Malaysian equity capital markets in Malaysia. The leading equity house was involved in the bulk of the most notable Malaysian ECM deals during the last twelve months, listing some of the well-received public offerings on Bursa Malaysia. In recent years, CIMB Investment Bank has successfully raised tens of billions that continues to outperform. From primary offerings to secondary placement and REITs, CIMB Investment Bank has continued to outdo competition in every way possible, from pricing to launch. Considering the pipeline of equity offerings to be launched in the second half of 2024, it appears plans are well underway to keep this award firmly within the bank, having won this award nine times out of the last 18 years.
| PHILIPPINES | BPI Capital Corp |
As one of the leading investment banks in the country, BPI Capital Corp has one of the most powerful equity market distribution platforms in the Philippines today. During the awards period, the leading equity house successfully concluded a variety of deals, demonstrating diversity of its client base and skillsets. The issuers range from small, medium to very large companies coming from divergent industries. With the Philippines firmly back on the radar of international investors and the PSE rising year-on-year, economic fundamentals remain strong despite the current market upheaval globally. Given such, the leading equity house is likely to maintain its market share which is so far showing no signs of slowing down, much to the disappointment of its closest competitors in the country.
| SINGAPORE | DBS Bank |
DBS has consistently ranked as a top local player for equity issuances in Singapore over the last ten years. During this period, DBS also stood out by sponsoring the largest number of equity deals on the SGX, with a dominant market share of IPOs and REIT equity issuances in Singapore. During the awards period, the leading equity house lead/joint-lead managed a large number of equity issuances – comprising IPOs, rights issue, placements and secondary offerings. DBS also stood out by advising and lead managing the largest number and largest value of equity deals on the SGX, reinforcing its position as the pioneering market leader of the Singapore equity market, demonstrating DBS Bank’ unique distribution capabilities, which has reinforced the bank’s hold on this accolade for the eighteenth consecutive year.
| THAILAND | Bualuang Securities |
Although most Thailand-based companies had a very challenging operating environment to deal with over the past year, Bualuang Securities has managed to outdo its local and regional rivals in the equity funding business and strengthened its relationships through a number of innovative transactions it was mandated for, during the awards period. Over the past few years, the leading investment bank and equity house has completed some of the largest, most notable equity related issues out of Thailand making the leading equity powerhouse the most multi-faceted investment banks in the country, helping raise billions in grand total for its client through IPOs, rights offering and private placements, edging its way to the top of the league table and retaining the illustrious position of being the leading equity house in Thailand, winning this award six times in the last 18 years.
| VIETNAM | Vietcap Securities (Vietcap) |
As one of the leading corporate finance houses in the country, Vietcap Securities has managed to make a name for itself by participating in unique transactions that other banks shy away from. From IPOs to a series of small to midcap equity issuances during the awards period, Vietcap excels unlike another. In the equity space therefore, Vietcap continues to dominate, making the leading equity house one of the most well-rounded, dynamic corporate finance houses and equity house in Vietnam.
BEST INVESTMENT BANK
| INDONESIA | Mandiri Sekuritas |
As one of the most well-staffed, highly experienced investment banking houses in the country, Mandiri Sekuritas has retained its position as a leading investment bank of choice among issuers and fixed income credits in Indonesia. For almost a decade now, the investment bank has evolved and adapted to fast moving developments in the Indonesian financial markets by playing a key role in advising clients small and large. Not only has Mandiri Sekuritas maintained that reputation by being a key player in the debt arena but over the past decade, it has also been investing heavily in its equity research, trading and distribution infrastructure and today boasts one of the strongest equity and M&A advisory platforms in the country.
| MALAYSIA | Maybank IBG |
M&A and corporate finance advisory remains a key pillar at Maybank IBG, much to the chagrin of many local and regional M&A houses in Asia. Not only is the investment bank a powerful force in equity and debt offerings appearing at the top of whichever league table one refers to, M&A advisory remains a niche expertise that appears too strong to beat. During the awards period, Maybank IBG remained at the forefront and was one of the most active investment banks in the M&A space. The leading investment bank today has the most powerful all-round platform regardless of who it represents i.e., buyer, seller or even the minority shareholders in between, in Malaysia.
| PHILIPPINES | BDO Capital & Investment Corporation |
Despite its short operating history, BDO Capital & Investment Corporation is no doubt the leading investment bank in the Philippines. In the last ten years alone, BDO Capital & Investment Corporation has helped raised billions in equity offerings and debt issues for both, government and private institutions either as an issue manager, lead underwriter, arranger, advisor, co-arranger or participating underwriter. Within the realm of M&A, BDO Capital has successfully spearheaded the acquisition of companies large and small. On the equity front, a number of successful issues were launched. Last but not least, exhibiting its innovative skills in fixed income, BDO was also behind some of the rare and most innovative structures in the Philippines, reflecting BDO Capital’s strength in local distribution, its multi-level client and investor platform.
| SINGAPORE | DBS Bank |
DBS Bank remains the top choice for many of its corporate and asset management clients, thanks to its proven track record, experienced bankers and product expertise. In Asia, DBS stood out by advising and lead managing the largest number and largest value of equity deals comprising IPOs, placements, rights offerings and preferential offering, raising billions from the Singapore market during the awards period. With an exhaustive list of bonds, equity and M&A deals underwritten by the bank including wide range of innovative and well-priced structures, DBS remains an unrivalled force in capital markets and investment banking in Singapore, thus retaining this award for the eighteenth consecutive year.
| THAILAND | Bualuang Securities |
Although most Thailand-based companies had a very challenging operating environment to deal with over the past ten years, Bualuang Securities has managed to outdo its rivals in the investment banking business and strengthened its relationships through a number of advisory assignments it has been mandated for, during the awards period. Over the years, the leading investment bank has led and completed the largest, most defining equity and corporate finance transactions in Thailand and is today one of the most multi-faceted investment banks in the region. While Bualuang’s key strength lies in Thailand, the leading investment bank has proven to be just as capable with wide-ranging ECM transactions as well as with M&A transactions worth billions, enabling Bualuang to stand out firmly from the rest in Thailand.
| VIETNAM | Ho Chi Minh City Securities |
As one of the most exciting emerging markets in Southeast Asia, a number of investment banks are today emerging on the financial market landscape in Vietnam. With a solid balance sheet and a track record of deals to match, Ho Chi Minh Securities (HSC) is today a powerful force in investment banking in Vietnam. Over the years, HSC has leveraged well of its corporate and commercial banking relationships by delivering unique corporate finance and innovatively structured funding solutions for local companies. Not only is HSC a rising player in the corporate and government primary and secondary bond market, but is quickly emerging as a key player in the equity and M&A space in the country, best illustrating its diverse range of skills sets and unrivalled knowledge in Vietnam.
BEST RETAIL BANK
| INDONESIA | Bank Mandiri |
As one of the largest, most dynamic banks in the country, Bank Mandiri is a leading financing partner for retail customers in the country. The bank is today a leading transactional banking player from the retail level all the way up to the corporate level.The bank also has a strong, growing network across the country and has taken its retail banking business just as seriously as its other businesses. In Indonesia, Bank Mandiri has one of the strongest balance sheets among banks in the country and by whichever metric the bank is judged against, it emerges at the top of its league. This has most probably got to do with the bank’ unique ability to adapt to the economic environment however challenging or rosy.
| MALAYSIA | CIMB |
Year after year and despite intensifying competition from government-linked banks as well as other private sector banks in the country jostling for a position near the top, CIMB has remained steadfast and focused when it comes to the country’s burgeoning retail segment. In recent years, the CIMB Group has continued to register strong growth Its sold retail banking franchise is a testimony to the resilience and strength of the banks’ business, customer relationships, people and processes. In the case of CIMB, it is very much business as usual, thanks in large part to its ability to meet the demand and evolving funding needs of its retail customers in Malaysia.
BEST DIGITAL BANK
| INDONESIA | Bank Mandiri |
By focusing on robust risk management controls, strong information technology systems and a quality manpower, Bank Mandiri is among a handful of banks in the country with a leading cutting edge online and mobile banking offering. Leveraging on machine learning and artificial intelligence to gain better understanding of customer preference and behaviour, Bank Mandiri is well placed to trail-blaze its way to the top as the leading digital bank in Indonesia.
| MALAYSIA | RHB Bank |
Following a four-year intensive effort to overhaul its banking products, services and solutions, RHB Bank has emerged as a leading player in the digital banking space in Malaysia. By re-imagining the existing value chain of each of its product, RHB has been able to not only build, implement and maintain its market share but expand its reach across products. By re-designing the value chain and outlining new digital features and functions and ensuring end-to-end delivery of its digital solutions, RHB has been able to excel, growing its market share exponentially, thanks to its improvised process and faster turnaround time. With the bank focused on investing in the next generation of enhancements, RHB Bank is well placed for many more years to come.
BEST SMALL TO MID CAP CORPORATE FINANCE HOUSE
| MALAYSIA | AmInvestment Bank |
As a historically dominant player in the ECM mid-cap space, AmInvestment Bank remains well entrenched among small to mid-cap companies in Malaysia. A leading player in the equity capital markets space in Malaysia with deal presence in beyond Malaysia, AmInvestment Bank has consistently ranked top on a number of mid cap corporate finance issues by demonstrating how it has the unique skillsets, infrastructure and manpower strength to advise companies of all sizes. While the leading corporate finance house also remains a noticeable force in the large cap space within Malaysia’s burgeoning equity capital markets, AmInvestment Bank has a unique niche as the country only bulge bracket investment bank with an in-depth, committed footprint in the small to mid-cap corporate finance space.
| SINGAPORE | UOB |
As a key player in the ECM mid-cap space, UOB remains well entrenched among rising number of small to mid-cap companies in Singapore. A leading player in the equity capital markets space in Singapore, UOB has consistently ranked top on a number of mid cap corporate finance issues by demonstrating how it has the unique skillsets, infrastructure and manpower strength to advise companies of all sizes. While the leading corporate finance house also remains a noticeable force in the large cap space within Singapore’s dynamic equity capital markets, UOB has a unique niche as the leading investment banking franchise with an in-depth, solid footprint in the small to mid-cap corporate finance space.
TRADE FINANCE BANK
| INDONESIA | Bank Negara Indonesia |
Supported by its ever expanding and rapidly developing network and product range, well-trained trade professionals and its continuing investments into the latest available forms of technology, Bank Negara Indonesia (BNI) is the leading provider of trade financing services in Indonesia, during a period when the country is seeing one of its most challenging economic and trade performances. The quest to shorten its export payments and collection cycle and enabling its clients to access critical information related to their businesses on time, has helped the bank minimise its own documentary risk and increase the quality and volume of its trade assets in recent years. As a result, document processing at the bank is said to be one of the most efficient among local banks in Indonesia. Given the scale of its operations, BNI is also able to offer one of the most competitive rates when it comes to domestic L/Cs as well as other forms of innovative trade financing solutions today, winning this much sought-after award fourteen times in the last eighteen years.
| MALAYSIA | Maybank |
As one of the largest banks in the country with the longest history in this business and over 100 branches, Maybank is undoubtedly the most preferable trade finance facilitator between importers, exporters and manufacturers throughout the entire supply chain within the country. In addition to 22 trade finance centres, the bank has trade finance experts located nationwide with designated sales and services teams backed by a centralised trade-processing centre. Maybank also practices same day delivery and discrepancy free documents can be processed within hours that is, as quickly as between one to three hours.
| PHILIPPINES | BPI |
While foreign banks are the bank of choice for a number of multinationals in the Philippines for their trade finance needs, BPI is the preferred local bank of choice for large local corporates and small to medium enterprises as well as multinationals with extensive manufacturing operations in the country. The fact that the bank is among few large leading commercial banks with a dedicated business unit focusing on agriculture, aiding the growth and development of agri-businesses in the country, demonstrates how the bank plans to leverage on its unique position in the Philippine’ market and grow its market share. With a wide network of over 800 branches and kiosks all over the Philippines and one of the highest bank ratings among local banks in the country, BPI is no doubt the preferred local bank partner when it comes to trade financing in the Philippines, given the established inroads the bank has successfully made over the years in this business, winning this award for the tenth consecutive year.
| SINGAPORE | OCBC Bank |
Whether it’s a simple standby L/C confirmation, a banker’s guarantee facility syndication, a risk participation trade deal, structured trade facility for a mining company or an end-to-end cross border structured deal, OCBC Bank is one banking partner you can rely on every step of the way. With a 24-hour dedicated hotline, a recently upgraded e-banking channel and the largest amount in trade assets on their books, OCBC Bank has come a long way and is showing no signs of slowing down anytime soon. While most banks focus on expanding market share, OCBC not only dominates in that respect but prioritises its trade business by focusing on structuring the most cost effective, yet profitable trade solution for its clients, playing the exact role a trade finance bank should play: facilitator of a given trade transaction – making OCBC the unequivocal winner for this award, for the seventh consecutive year.
| THAILAND | Bangkok Bank |
With over 1,128 branches, 92 business centers, as well as hundreds of trade specialists and processing staff let alone the largest international branch network of 14 foreign offices among Thai banks, Bangkok Bank is without a doubt, the best bank when it comes to trade financing in Thailand for leading corporates and SMEs. The bank today has successfully cornered the largest market share for trade products in the country and is the preferred choice for importers and exporters. Bangkok Bank also has a reputation of thinking outside-the-box with innovative trade solutions and in recent years has started covering as much of the supply chain as possible with the aim of helping their clients mitigate risk and boost their internal cash flows. For these reasons, the award for the seventeenth time in 18 years goes to Bangkok Bank.
BEST CASH MANAGEMENT BANK
| INDONESIA | Bank Mandiri |
Bank Mandiri has continued to strengthen its positioning as one of the best provider of cash management services in Indonesia by delivering total solutions and providing tailored cash management services based on their customer needs and creating synergy with other business units within the bank. Thanks to a shift in thinking at the management level recognising the importance of transactional fee income, everything the bank does today is centered around being part of the payments and receivables process from the corporate level down to the retail level by leveraging on its under-utilised resources at its disposal. Therefore, the bank that has excelled over the years is now all set on entrenching its market share deeper in the lucrative account receivables & account payables business by technologically integrating all transactions back and forth across various industry segments. In other words, by placing banking convenience at the core of its business, it is positioning itself to become the preferred choice for cash management solutions for years to come winning this award for the thirteenth time in 18 years.
| MALAYSIA | OCBC Bank |
With a growing market share due to its innovative thinking, OCBC Bank is today the predominant player when it comes to cash management in Malaysia. The strength of its offering lies in its middle-market segment comprising of mainly commercial businesses and as a result is able to service a growing portfolio of SMEs as well as very large corporates and multinationals as well. Among its largest clients are some of Malaysia’s largest corporates as well as some of the most active multinationals in the country. The bank has also continued launching new products that has led to new revenue sources worth millions of dollars. The transformation programme put in place by senior business unit heads is clearly now beginning to generate dividends in the form of its dominant market share and rising fee income from this business at the group level, winning the award for the fourth consecutive year.
| PHILIPPINES | BDO Unibank |
Instead of competing for the traditional markets confined by “old-school” rules, BDO has deliberately adopted the strategy of maximising existing client-base and creating uncontested market space when it comes to cash management in the country. By taking a consultative approach as opposed to just selling, BDO has been able to innovate and build solutions for its clients. The bank aims to keep its position as the best in the Philippine cash management industry through continuous deployment of solutions that meet the increasing complexity of customers’ requirements. The bank has also successfully changed the way corporate payroll is handled today, from the traditional cash stuffing and manual distribution to the electronically driven file upload and automatic crediting to the card for easy and efficient end-user utilisation. Put simply, BDO’s commitment to nurturing the cash management is unmatched in the local banking scene, therefore retaining this award for the ninth consecutive year.
| THAILAND | Kasikornbank |
Kasikornbank is a market leader in Thailand when it comes to product innovation especially in the area of electronic collection & payments. Among small-to-medium-sized companies as well as top-tier corporates, the bank is perceived as the most capable bank when it comes to providing unique cash management solutions. Kasikornbank secret to success lies in its infinite drive to lower costs for the benefit of its stakeholders and its treasury and cash management clients as well as its ‘zero tolerance’ policy towards technical glitches. With a 24/7 call centre dedicated to supporting its cash management products, an independent helpdesk control centre to actively monitor applications and services synthesised with six sigma practices to ensure high service quality and process efficiency, the bank has made major inroads into the cash management space and is today, the undisputed leader of cash management services in Thailand, winning this twelve times in the last 18 years.