WORLD'S BEST TREASURY PROVIDERS

Global Finance, Mar 2005 by Platt, Gordon

LATIN AMERICA

Citigroup

Citigroup supplies local target-balancing arrangements for clients to consolidate funds to a local header account prior to moving them crossborder to a concentration location. Once the funds are centralized, either a physical or notional overlay pool is used to maintain account autonomy and reduce overdraft costs through offsetting internal debit and credit positions. Citigroup streamlines the documentation process.

CENTRAL AND EASTERN EUROPE

RZB

RZB offers cross-border margin pooling for cash pools held in local currency at any of its network banks. This allows the offsetting of credit and debit balances for interest purposes on accounts within the same group of companies. The bank provides detailed online information about the daily account balances of all subsidiaries in the client's group. This margin pooling is done on a notional basis, which means the funds are not actually moved. Cross-border cash pooling is possible only in a few CEE countries due to legal restrictions.

MIDDLE EAST AND AFRICA

Citigroup

With offices in 26 countries in the Middle East and Africa, Citigroup has the widest regional presence of any bank. Clients transact electronically with Citigroup using the CitiDirect online banking platform. In addition to providing companies with a full range of services, Citigroup trains clients in treasury and cash management processes.

BEST BANK FOR PAYMENTS AND COLLECTIONS

NORTH AMERICA

Bank of America

In August 2004 Bank of America launched Remote Payments Online, an electronic receivables service that enables its corporate clients to offer multiple payment and input options to their customers. Using this new service, companies are able to integrate electronic payment transactions through their existing Internet and telephone infrastructures and accept credit card and automated clearinghouse payments within a single platform. In December 2004 BofA became the first bank to use the Federal Reserve's new check-image service to transmit substitute checks electronically to Fed banks across the country for presentment to the paving banks.

WESTERN EUROPE

Deutsche Bank

Deutsche Bank offers a complete end-to-end payment and collection solution, as well as an electronic invoice presentment and payment solution. These products help companies reduce the invoice-to-cash cycle and release working capital. The bank is willing and able to structure customized solutions for the payment and collection needs of its corporate customers. Deutsche Bank's global branch network and platforms support these services effectively.

ASIA

HSBC

HSBC provides global account information and transaction management through its HSBCnet Internet banking platform. The bank offers solutions in local languages, including simplified and traditional Chinese, Japanese, Korean and Thai. In August 2004, HSBC completed its purchase of a 19.9% stake in Shanghai-based Bank of Communications, China's fifth-largest bank, which has about 2,700 branches. HSBC's Chinese-currency banking business has the widest geographic reach of any foreign bank in China. It has 12 branches in major Chinese cities. HSBC will open its second branch in Vietnam this month with an initial investment of $15 million. The bank offers a full set of cash-management services in 20 Asian countries.