U.K.-based group Barclays Bank PLC has lost its rank among the top 10 global transaction banks in the first half of 2018, being replaced by French lender Crédit Agricole SA, according to a sector league table released by research firm Coalition on Oct. 10.
The league table, which appears twice a year, ranks major U.S. and European institutions by transaction banking revenues, including trade finance and cash management. The ranking takes into account all bank revenues from institutional and corporate clients with an annual turnover of more than $1.5 billion.
Barclays held the 10th place in Coalition's league table in 2016 and 2017. Credit Agricole, which climbs into the top 10 list for the first time, was helped by a surge in trade finance revenues. The French bank was among the three strongest performers by trade finance revenues over the first half, according to Coalition's data.
Other than the swap between the two European banks, the remaining league table constituents kept their positions largely unchanged. U.S.-based Citigroup Inc. remained firmly in the lead, as in the previous two years, also being one of the two best performers in trade finance revenues generated year over year, alongside France's BNP Paribas SA.
British banks HSBC Holdings PLC and Standard Chartered PLC were the two strongest performers in overall transaction banking revenues over the first half as compared to 2017, mainly on the back of growing cash management revenues. Both banks performed best in terms of year-over-year revenue growth in cash management. In a regional comparison, both of them also emerged as top players in Asia.
JPMorgan Chase & Co. and Bank of America Corp. booked the highest year-over-year revenue growth in the Americas. JPMorgan was also one of the two top performers in Europe, the Middle East and Africa, alongside France's Société Générale SA.
Coalition is owned by CRISIL. S&P Global Market Intelligence and CRISIL are owned by S&P Global Inc.
For the FY'17 transaction banking league table, click here, and to read more on how global transaction bank revenues fared in the first half of 2018, click here?
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