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Alternative Market Briefing

Greenwich finds that Asian banks are gaining ground on global rivals

Thursday, April 25, 2013

Beverly Chandler, Opalesque London: In their latest report entitled Asian companies forge new ties with local banks, Greenwich Associates finds that Asian banks are gaining ground on their global rivals by stepping up their service quality in corporate banking and by stepping in to fill the void left by retrenching foreign European banks.

The firm finds that the global financial crisis and its aftermath have presented Asian banks with a unique opportunity. "The European banks that have traditionally claimed corporate banking and cash management relationships with large Asian companies have come under pressure from balance-sheet constraints and from difficulties in securing U.S.-dollar wholesale funding. This combination of challenges has led some global banks — including banks that in the past maintained a commanding presence in the Asian marketplace — to narrow their Asian strategies and to cut back on the resources they commit to the region."

Asian banks are closing the quality gap in corporate banking and cash management according to Greenwich. Over the past few years Greenwich Associates research has documented Asian banks’ success in exploiting this opportunity and they have found that Asian banks are making significant investments in talent and technology. "As a result, at a time when some foreign banks have given Asian companies ......................

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