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AwardsBest Transaction Banks in China

Best transaction bank for domestic cash management 2017

China Merchants Bank

One reason why China Merchants Bank stood out in the provision of transaction banking is its strength in cash management. In 2016, CMB recorded another year of robust and sustainable business growth in cash management.

By the end of the year, it had more than 1.1 million cash management clients, up 33.4% from the previous year, making it the leader among the national commercial banks.

A key driver of the growth is CMB’s newly instituted transaction banking structure, which has enabled the bank to attract more clients for cash management with comprehensive and customized services. But there are other reasons behind its remarkable growth.

First is the launch of a global cash management (GCM) platform last year. The platform has made it possible for CMB’s multinational company clients to conduct real-time monitoring of their overseas bank accounts, as well as to make cash remittances and transfers from China to their accounts at CMB’s overseas branches.

The second is the bank’s cross-border cash pooling service, which helps customers to manage cash more efficiently. In 2016, CMB signed up an additional 159 clients operating in and outside China for the service.

The third is the introduction of customized multi-level cash-pool programmes to strengthen relations with large Chinese conglomerates. The programmes allow clients to closely track cash movements between their various subsidiaries and affiliates and to quickly allocate cash to suit the needs of each business unit. Launched in late 2014, the programmes attracted 7,679 customers for CMB in 2016.

The fourth is the continuous upgrade of its Cross-Banking Solutions and Treasury Management System, which were designed to enable large businesses and governmental bodies to centralize their cash management. Last year, Cross-Banking Solutions alone won 514 customers for CMB, up 154% over 2015.

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