Standard Chartered Bank emerged as the top foreign exchange bank for Africa [and The Gambia] in Global Finance magazine’s annual awards.
Winners are nominated by Global Finance editors, industry analysts, corporate executives and technology experts, and based on criteria including transaction volumes, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.
Standard Chartered’s win is attributed to its clear leadership in market share for FX in Africa – no other bank in Africa covers the top African markets (in terms of GDP) more comprehensively as Standard Chartered, which has FX sales and trading capabilities covering 12 countries in Africa, including Botswana, Cameroon, Cote D’Ivoire, Gambia, Ghana, Kenya, Nigeria, Sierra Leone, South Africa, Tanzania, Uganda and Zambia.
Standard Chartered also leverages technology to provide leading FX solutions: the Bank is the first to auto-quote African currencies 24 hours a day and the first to offer African currencies via executable streaming prices through its award winning e-channel solutions.
The Bank trades in all major and other exotic currencies – 30 African currencies and over 100 currencies globally – and has full capability around FX spot and forwards, FX options, interest rate swaps (IRS), cross currency swaps (CCS), commodity hedging solutions and structured products.
“By combining our global expertise with local experience, Standard Chartered has been pioneering the introduction of new financial products and risk solutions into our African markets, to match our customers’ increasingly sophisticated requirements. I am delighted that we have won Best FX Bank in Africa and Best FX Bank in The Gambia for the second consecutive year,” says Fred Lee, regional head of global markets, Africa, Standard Chartered Bank. “It is a tribute to the dedication of our trading, sales and structuring teams across Africa in delivering seamless global coverage and a superior service”.
“In Africa and The Gambia, individuals, local and global corporates, financial institutions, development and non-government organisations alike rely on Standard Chartered for their FX needs. The Bank is a clear leader in market share and its product and service offerings in these markets,” says Joseph D. Giarraputo, publisher and president of Global Finance.
D.C.