Standard Chartered reinforced its leadership position in cash management and trade finance when it swept six awards, four of which are consecutive wins, at the recent Global Finance Magazine Awards.   

For the Best Treasury and Cash Management Provider Award 2009, Cash Management took home the following : Best Bank for Liquidity Management in Africa (4th consecutive year), Best Bank for Liquidity Management in Middle East, Best Bank for Risk Management in Asia (2nd consecutive year).

According to Joseph D Giarraputo, publisher, Global Finance Magazine, the awards identify banks and providers of products and services that consistently improve trade processes to speed collections and reduce risks . “Winners were selected based on criteria including profitability, market share and reach, customer service, competitive pricing, production innovation and the extent to which the bank has differentiated itself from its competitors.”

For the Best Trade Finance Provider Award 2009, Trade Finance was conferred the following:   Best Trade Finance Provider for Asia  (2nd consecutive year), Best Trade Finance Provider for Africa,  Best Trade Finance Provider for Singapore (3rd consecutive year).  In selecting the winners for Best Trade Finance Provider Award, publisher Joseph revealed that the committee picked banks that “corporations can rely on for financing their global trade activities and providing other trade-related services”.

He cited important considerations such as transaction volume, scope of global coverage, customer service, competitive pricing, and use of innovative technologies. “Our holistic end to end working capital model allows our clients to manage their liquidity needs. We are very honoured to receive this recognition reflecting our position as a leading international bank and core bank to our clients.  We also have an absolute focus on rigorous ‘Know Your Client’ practices that give us full knowledge of our clients’ business strategies and requirements as well as their exposures and risks.

“Despite a challenging year caused by the continuing financial turmoil, our strategic focus on working to support our clients and strong financial position have enabled us to deliver for our clients and for our investors,” said Karen Fawcett, group head of Transaction Banking.