HSBC’s offshore renminbi financial products and services continue to most impress companies, financial institutions and investors in Asia Pacific that use the currency outside of China, according to Asiamoney’s second Offshore RMB Poll.
The UK-headquartered bank, which possesses a major Hong Kong presence, stands above its rivals for the second year in a row in the survey. But voters proved more fickle in their attitude towards other highly ranked banks, with Citi advancing to second this year at the expense of Standard Chartered, which falls out of the top three. Bank of China successfully defends its third place.
The poll was based upon 713 valid responses from companies, financial institutions and investors that use offshore renminbi products and services, a marked improvement on the response rate in 2012.
| Best overall products/services | ||
| 2013 | 2012 | Firm |
| 1 | 1 | HSBC |
| 2 | 4 | Citi |
| 3 | 3 | Bank of China |
The three leading banks performed consistently well in individual product categories, which include: best clearance, transaction banking and settlement, best deposit, best bond origination, best derivatives, best research, and priority in using offshore RMB products/services as voted by potential offshore RMB services users.
Detailed rankings for these categories will be available online, at www.asiamoney.com, and in the June edition of Asiamoney.
For further information regarding this survey and other polls, please contact Anthony Chan, head of research, on (852) 2912 8077 or at anthony.chan@asiamoney.com, Harris Fan, deputy research manager, on (852) 2912 8037 or at harris.fan@asiamoney.com.