Santander too strong despite tough competition at Awards for Excellence

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The Awards for Excellence battle in the Americas region really heated up this year as a number of institutions with recognisable global reach emerged with local presence in the area. 

There was a strong showing from global banks such as Santander and HSBC, in addition to the more regionally entrenched banks such as Citi and Bank of America Merrill Lynch. 

But domestic banks hung tough in the country awards as Banco de Credito del Peru, Banco General and Bancolombia took home the prizes in their respective countries amid strong competition, notably from Citi.

The standout country award in Latin America was for the Best Trade Bank in Chile where, after two years of being runner-up to Santander, Banco de Chile was able to emerge triumphant.

Across the region as a whole, however, Santander’s strength was too great to compete with. The Spanish bank took home Best Commodity Finance Bank in Latin America, Best Export Finance Arranger in Latin America, Best Trade Advisor in Latin America, Best Supply Chain Finance Bank in Latin America and Best Overall Trade Bank in Latin America, in addition to being Best Trade Bank in Mexico.

Santander has long established itself as a bank with a great presence in the region and took home the same awards one year ago. Citi was once again well represented in this region and promises to provide strong competition to the Spanish giant going forward.

The awards were far more evenly spread in North America though. Bank of America Merrill Lynch and Scotiabank scooped up the awards for Best Trade Bank in the USA and Best Trade Bank in Canada respectively. 

Bank of America Merrill Lynch was also well represented in the regional North American awards, featuring as runner-up intwo other awards.

BMO continued its strong showing in the supply chain finance sphere, retaining the coveted Best Supply Chain Finance Bank in North America.

The Export-Import Bank of the United States was also able to hold on to its crown as the Best Export Credit Agency (ECA) in the Americas, holding off Export Development Canada, which has provided increasingly stiff competition for the US ECA in recent years and will be hard to hold off in the future. 

It was business as usual for Zurich, which has dominated the insurance awards in recent years, as the firm sealed Best Trade Insurer in the Americas. Baker & McKenzie was able to hold off Clifford Chance to be crowned Best Trade Law Firm in Latin America but Clifford Chance secured Best Trade Law Firm in North America.

Ultimately, the top North Americanaward - Best Overall Trade Bank in North  America - was won by Citi, which also picked up Best Trade Advisor in North America.


Category  Winner Highly Commended
Best commodity finance bank in Latin America Santander Societe Generale
Best commodity finance bank in North America Societe Generale Citi
Best DFI Americas IFC IADB
Best ECA Americas US Ex-Im EDC
Best export finance arranger in Latin America Santander Citi
Best export finance arranger in North America HSBC Citi
Best overall trade bank in Central America & Caribbean Bladex Scotiabank
Best overall trade bank in Latin America Santander Citi
Best overall trade bank in North America Citi Bank of America Merrill Lynch
Best supply chain finance bank in Latin America Santander Citi
Best supply chain finance bank in North America BMO Bank of America Merrill Lynch
Best trade advisor in Latin America Santander Citi
Best trade advisor in North America Citi Santander
Best trade bank in Argentina Citi Santander
Best trade bank in Brazil Itau BBA Banco do Brasil
Best trade bank in Canada Scotiabank BMO
Best trade bank in Chile Banco de Chile Santander
Best trade bank in Colombia Bancolombia Banco de Bogota
Best trade bank in Mexico Santander Banamex
Best trade bank in Panama Banco General Multibank
Best trade bank in Peru Banco de Credito de Peru Santander
Best trade bank in the USA Bank of America Merrill Lynch Citi
Best trade finance boutique in the Americas Northstar Finacity
Best trade insurance broker Americas Marsh JLT
Best trade insurer in the Americas Zurich AIG
Best trade law firm in Latin America Baker & McKenzie Clifford Chance
Best trade law firm in North America Clifford Chance Baker & McKenzie