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The EMEA region encompasses a huge chunk of the international trade finance market. Therefore it is no surprise that nominations for awards were so closely contested and rich in diversity.
The region is home to big commodity traders such as Trafigura and Glencore but also some of the major players in commodity and export finance. This includes ING, which took the title as the region’s best commodity finance bank, and BNP Paribas, which can claim to be the region’s top trade bank in Western Europe this year.
But it is not just about the international players. Local groups are having an increasingly bigger stake in the EMEA trade finance market. First Gulf Bank is a prime example, taking the prize for Best Islamic Trade Finance Bank EMEA.
The region’s top prize of Best Overall Trade Finance Bank was won by HSBC, which narrowly beat off a strong challenge from last year’s winner Standard Chartered. The award is one of four for HSBC, which was also named Best Trade Advisor EMEA, Best Supply-Chain Finance Bank EMEA and Best trade bank in the Middle East and North Africa.
But HSBC missed out on award number five, as SMBC beat it to the race for Best Export Finance Arranger EMEA. Jonathan Joseph-Horne, SMBC global coordinator and head of export and agency finance, EMEA, commented: "We aim to support our clients whether they are EMEA based exporters selling to Latin America, Japanese or Korean exporters trading in Africa or the CIS, large scale project finance transactions in the Middle East importing from Asian suppliers, European renewables projects purchasing from their close neighbours, or pan-African agencies supporting the growth of their region through trade.”
There was no change in the country awards as Eco bank and Standard Bank retained their titles for Best Nigerian Trade Bank and Best South African Trade Bank respectively.
On the ECA awards, Asian dominance continued in the Middle East with Kexim taking home the trophy of Best ECA in the region.
The Best ECA in Africa was again won by Afreximbank. But, with increasing competition from the North American ECAs – US EX-Im and EDC – it will be interesting to see if it can hold off and succeed again next year.
Sace took the award for Best ECA in Europe, shooting down the previous dominance of Euler Hermes. Norton Rose Fulbright retained its Best Trade Law Firm EMEA award but faced stiff competition.
The ever-growing presence of Dentons in the Middle East means a battle for this award next year is very much on. With strong competition in a diverse market, none of this year’s winners are guaranteed to triumph again next year. But if they do manage to, it is a testament to their continued efforts to maintain dominance in a series of awards contested by fine margins.
|Best trade bank in Western Europe||BNP Paribas||ING|
|Best trade bank in Eastern Europe & CIS||ING||Societe Generale|
|Best trade bank in the Middle East and North Africa||HSBC||Standard Chartered|
|Best trade bank in Sub-Saharan Africa||Standard Chartered||HSBC|
|Best South African trade bank||Standard Bank||HSBC|
|Best Nigerian trade bank||Ecobank||First Bank of Nigeria|
|Best trade bank in Russia/CIS||Sberbank||HSBC|
|Best commodity finance bank EMEA||ING||Societe Generale|
|Best export finance arranger EMEA||SMBC||Citi|
|Best supply-chain finance bank EMEA||HSBC||Credit Agricole|
|Best trade law firm EMEA||Norton Rose Fulbright||Dentons|
|Best trade advisor EMEA||HSBC||Citi|
|Best trade insurer in EMEA||Euler Hermes||Atradius|
|Best trade insurance broker in EMEA||Willis||Aon|
|Best ECA Europe||Sace||EKN|
|Best DFI Europe||EBRD||KfW|
|Best ECA Middle East||Kexim||JBIC|
|Best DFI Middle East||ITFC||KfW|
|Best ECA Africa||Afreximbank||US Ex-Im|
|Best DFI Africa||IFC||ITFC|
|Best Islamic trade finance bank EMEA||First Gulf Bank||HSBC|
|Best overall trade finance bank EMEA||HSBC||Standard Chartered|