Deutsche Bank makes it a decade of German and Western European success in Euromoney Cash Management survey
A survey of 27,000 corporates and financial institutions sees Deutsche Bank claim top prize in 13 regional and country categories for its cash management services and market leadership despite challenges
The cash management market has been a challenging one over the past years: market interest rates have raced towards zero, in some cases even negative, while new competitors have entered the scene, with many benefitting from regulation. At the same time, digitisation is shaping the market more than ever. Trends range from digital payments and data innovation to infrastructure changes and digital currencies.
In this challenging but promising environment, Deutsche Bank has repeatedly underlined its leading position in global cash management with a total of 13 No.1 positions in Euromoney’s Cash Management Survey 2021. The bank was named the leading provider of cash management services to corporates in Western Europe and Germany – sealing a full decade of consecutive titles – along with eight other countries. The bank also secured the top spot in the financial institution (FI) rankings for Best Service in Western Europe up from third place in 2020.
The Euromoney Cash Management Survey has been carried out annually since 2001 and has become a recognised marker for success in the cash management business. This year received over 27,000 responses from corporates and financial institutions working with a range of banks, making it a reliable indicator of Deutsche Bank's standing with clients across the globe.
Expanding reach and reputation among corporates
In addition to retaining its leading position for corporate market share in Germany and Western Europe for 10 years straight, the bank has also held onto the top spot in both Portugal and Spain for the fourth consecutive year, and in the Netherlands for the second year in a row. The bank is also expanding its reach and reputation with clients, having been named Market Leader in Pakistan for the first time and Best Service Provider in Sri Lanka and Vietnam.
“The corporate cash management space continues to be marked out by fierce competition with digital innovation, streamlined services and tailored solutions as the orders of the day. The fact that we have been able to maintain our leading position amidst many challenges – and consistently for a full decade – is a marker of our dedication to continuous improvement and close cooperation with our clients," said Ole Matthiessen, Global Head of Cash Management.
More than just a euro house for FIs
Deutsche Bank also came out on top for Western Europe in the financial institution polls, being named Best Service Provider in the region for all currencies, while also taking first place in the Market Leader rankings for euro-denominated business in both Western Europe and the Middle East.
“Institutional cash management remains one of the bank’s core strengths – a fact reflected by another strong set of results,” says Daniel Schmand, Global Head of Trade Finance & Lending and Institutional Cash Management, Deutsche Bank. “We have once again shown our undoubted strength when it comes to euro-denominated business, but we are more than just a euro house so it’s pleasing to see clients recognise our services across all currencies and right across the whole of Western Europe.”
Below is the full list of number-one rankings for Deutsche Bank in this year’s survey:
Regional Market Leader
No.1 in Western Europe (for a decade)
Domestic Market Leader
No.1 in Germany (for a decade)
No.1 in Netherlands (2nd consecutive year)
No.1 in Pakistan (1st year)
No.1 in Portugal (4th consecutive year)
No.1 in Spain (4th consecutive year)
No.1 in Portugal (3rd consecutive year)
No.1 in South Korea (3rd consecutive year)
No.1 in Sri Lanka (1st year)
No.1 in Vietnam (1st year)
No.1 in Western Europe for EUR
No.1 in Middle East for EUR
No.1 in Western Europe (overall)