Standard Chartered wins Best Cash Management Bank (Middle East) Award in 2004 Euromoney Awards for Excellence

At the Euromoney awards ceremony in London on 15 July, the Bank was presented with the award for "Best Regional Cash Management Bank in the Middle East". This is the second consecutive year that the Bank has won this award.

Now in its 13th year, the annual Euromoney Awards for Excellence serve as a crucial benchmark of the global banking industry. The awards recognise the finest banks across the world in a range of disciplines, including debt, M&A, equity, cash management and more.

Euromoney cited the following reasons why it awarded Standard Chartered the title :

Standard Chartered's highly rated technology platform for cash management and its web-based electronic payments system are central to its strengths at cash management. Clients consistently rate the bank's personnel and expertise above the main regional rivals, HSBC and Citigroup.

The bank's innovative payments and collections abilities, as well as its regional network helped it to win high profile pan regional mandates this year for multinationals including Dow Chemicals, Procter & Gamble and RAK Ceramics.

As the leading cash management and trade services provider in the Middle East region, clients have commended Standard Chartered on the difference they see in the quality of its
-people,
-products and services and most importantly,
-approach : to be a strategic business partner to clients, being proactive in tailoring solutions that meet their current requirements and working with them to anticipate and customise solutions for business, market and regulatory changes.

Commenting on the awards, David Edwards, Standard Chartered's Regional General Manager for the Middle East and South Asia said, "Key to Standard Chartered's success is the Bank's strong client focus, which is notably consistent across our various businesses in the Middle East, as in other markets across our network. Our clients' success is a priority for us and we work to be the right partner to our clients to ensure they achieve their goals."

Standard Chartered has earlier been awarded "Bank with the best use of IT in a multi-channel strategy in the region" by the Middle East Banker 2003, for its industry-leading technology platform, eBBS.

The Bank also won awards for 'Best Debt House, Singapore' and 'Best Debt House, India' at the Euromoney ceremony.