The magazine “Euro social fiscal” has chosen the best banks in various categories. In addition to key figures, information from insiders and experts was also included in the evaluation. Deutsche Bank is among the winners.
The US magazine “Global Finance” scrutinized banks in 136 countries for its ranking of the best banks in 2012. The rating included objective criteria such as growth in assets under management or profitability, as well as subjective assessments by bank advisors or analysts. Finally, winners were chosen in twelve categories. The magazine emphasizes that these are not always the largest, but certainly the best banks.
Best Sub-Custodian: Citibank
Citibank was honored in the category of best sub-custodian bank. In terms of property law, the major US bank has the largest custody account network in the world, covering 61 markets and 98.5 percent of global market capitalization. Sub-custodian banks are custodian banks that are commissioned by other financial institutions in countries in which they do not operate themselves.
Best Forex Trader: Deutsche Bank
Deutsche Bank is the long-term winner in the category of best foreign exchange trader. According to Global Finance, the largest German financial institution has the largest, most diverse and most profitable foreign exchange division of all banks. It’s not the only category in which Deutsche Bank has won.
Best Trade Financing Provider: Citibank
Citigroup boss Vikram Pandit can also celebrate success in the category of best trade financier. Citibank offers its trade finance service in 86 countries, enabling companies to always have money in a globalized economy and shifting trade flows.
Cash management: Citibank
And Citibank wins in a third category. “Global Finance” also sees the US bank at the forefront in cash management. The corresponding division of the bank has an impressive list of customers, it says in the justification. It includes multinational companies as well as financial institutions, governments and central banks.
Best Custodian: Bank of New York Mellon
According to Global Finance, BNY Mellon is the world’s largest custodian with more than $27 trillion in assets under management. The bank has reduced the process risks. Despite a slump in profits in the second quarter, BNY Mellon is the best custodian in the world. Special assets such as securities from investment funds are held independently in a custodian bank.
Best Wealth Management: Blackrock
The US financial services provider Blackrock wins in the best wealth management category. With $3.6 trillion in assets under management, Blackrock is the largest service provider in the world in this area. The business of advising governments, central banks and companies on risk management has flourished since the financial crisis.
Best Islamic Bank: Al Baraka Bank
Al Baraka Bank is the best Islamic financial institution for “Global Finance”. The bank has a strong presence in the Middle East and North Africa with offices in Libya, Tunisia, Sudan, Algeria, Lebanon and Egypt. Egypt is a particular growth market for Al Baraka, which is based in Bahrain. The bank also has branches in South Africa, Turkey, Indonesia and Pakistan.
Best Emerging Markets Bank: Standard Chartered
Standard Chartered’s Brits are the best bank in emerging markets. According to Global Finance, the bank has a strong presence in the growth markets of Asia, Africa and the Middle East.
Best Private Bank: Julius Baer
Julius Baer boss Boris Collardi can be happy, his institute was honored as the best private bank in 2012. With the acquisition of Bank of America’s international wealth management business, the bank has strengthened its position. Julius Baer has also invested in growth markets and entered into strategic partnerships with the Bank of China and the Australian Macquarie Group, explains “Global Finance”. The two most important awards go to major banks.
Best Retail Bank: HSBC
The major international bank based in London is the best private customer bank for “Global Finance”. In its justification, the US magazine states that HSBC generates two-thirds of its profits in the Asia-Pacific region. The institute is also strategically repositioning itself in Asia and Latin America. In Europe, on the other hand, the bank is exposed to uncertainties due to possible regulation in Great Britain and a European banking union – which does not harm it, at least in terms of ranking.
Best Commercial Bank: Deutsche Bank
The new co-chairs Jürgen Fitschen (left) and Anshu Jain can be happy. Deutsche Bank is the winner in the category of best commercial bank among the best banks in the world. With branches in 72 countries, Deutsche Bank is very present in emerging markets, but due to its extensive activities in Europe it is also severely affected by the economic slowdown in Europe, according to the statement.