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Indonesia
Standard Chartered Bank
A new client records that the “global relationship team is a
pleasure to work with as well as the onboarding team.” They had
to get it right, because this is an important market for Standard
Chartered. The bank has a long history in Indonesia, entrenched
itself by acquiring PermataBank 12 years ago, and now runs a
sizeable branch network in the country.
Of the 70 countries where Standard Chartered operates, Indo-
nesia is the sixth biggest contributor. As it happens, admiration
of the client-facing people at Standard Chartered is more evi-
dent at the level of the questions than at the service area level.
The details also show respondents have no complaints about
the core services of settlement, safekeeping and asset servicing.
Where there is still room for improvement is in cash, collateral,
capital and credit.
Citi
Citi Jakarta has not attracted many responses this year. Those
clients that have assessed the bank deliver a collective verdict
that is well below the solid performance of 2017. Respondents
entertain no doubts about the safety of their cash and securities
in bad times as well as good; they take settlement of transactions
for granted and like their client service officers. It is in value
(and in value-added services) that they want Citi to take a closer
look at itself.
HSBC
Average scores have dipped since last year, when they were also
down slightly. Although the bank is beating the benchmarks in
areas that have a material financial impact on clearing clients
– and clients are not worried that their trades will not settle or
that their assets are not safe – they are less convinced about fees
and spreads. Where they entertain no doubt is commitment.
They know HSBC acquired Bank Ekonomi Raharja here 10 years
ago and that the Ekonomi operations were finally merged with
the local branch last year, allowing HSBC to expand the range of
services it offers in the country.
Deutsche Bank
“We find Deutsche Bank easy to work with,” writes a client. “They
are very responsive to our needs and requests.” Certainly, the
scores the German bank collects for client service and relation-
ship management are among the best it receives in this market,
but there is considerable volatility in the scoring of different ser-
vice areas, and the overall outcome is adrift of last year. Indonesia
was always one of the larger franchises in the Asian network of
Deutsche Bank, which has added a large domestic fund adminis-
tration business here to its sizeable custody franchise.
Other
Data was also received for DBS, Jakarta being one of the four
markets where the Singapore-headquartered bank provides
direct custody and clearing services. Though the bank did not
secure enough responses to be assessed formally, the average
scores were flattering.
WEIGHTED AVERAGE SCORES
Standard Chartered
Bank
HSBC
Deutsche Bank
Citi
Market Average Global Average
Share of validated responses (%) 36% 23% 31% 11% Relationship management 5.22 4.78 5.25 4.77 5.13 5.30
Client service 5.50 4.64 5.44 5.85 5.41 5.56
Account management 5.07 4.76 4.30 4.90 4.77 5.14
Asset safety 4.59 4.67 4.20 2.33 4.12 4.60
Risk management 5.30 5.21 5.25 5.44 5.28 5.50
Liquidity management 5.24 4.14 4.48 5.60 4.91 5.14
Regulation and compliance 4.26 5.38 4.36 3.50 4.29 4.84
Innovation 4.62 5.00 3.95 3.71 4.31 4.75
Asset servicing 5.29 6.17 5.07 4.50 5.21 5.52
Pricing 5.10 4.37 5.19 4.23 4.93 5.28
Technology 5.11 5.82 4.95 5.29 5.13 5.41
Cash management and FX 5.20 5.08 4.89 5.50 5.15 5.42
Total 5.07 4.93 4.77 4.48 4.89 5.23
Winter 2018
globalcustodian.com
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