Global investors rely on local sub-custodians for services beyond trade settlement and asset custody, such as supporting clients as advisors on local market developments and providing insight into local regulations. In our 22nd edition of the World’s Best Sub-Custody Banks, we recognize institutions in 83 countries around the world that continue to provide comprehensive post-trade services.
For many of our winners, continued product and process innovation and technology upgrades continue to improve the standardization and automation of services critical to operational efficiency and effective risk management. Leadership in their respective regions includes a high level of representation with industry associations to help shape the sector in line with best practice, in response to infrastructure and regulatory changes.
With the recent move to a shortened settlement cycle, from two days after the trade date (T+2) to one day (T+1), sub-custodians in the US, Canada and parts of Latin America have been invaluable in providing information to their customers about the impact of this shift and its benefits. These include reduced counterparty risk, better market liquidity and an overall improvement in operational efficiency. In Latin America, local sub-custodians are trusted advisors on all market developments, including the planned integration of Chilean, Colombian and Peruvian exchanges into a regional exchange.
Most sub-custodians are embracing advanced technologies, including artificial intelligence (AI) and data analytics, which they use to refine their custody infrastructure and improve the quality of service.
Methodology
In selecting the institutions that reliably provide the best services in 83 countries and seven geographic regions, Global finance The editors took into account market research, input from expert sources and entry information from the banks themselves. The criteria includes customer relationships, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business continuity plans and knowledge of local markets, regulations and practices.
Regional, country and area winners
| Africa | Rand Handelsbank |
|---|---|
| Botswana | Standard chartered |
| Ivory Coast | SGSS Ivory Coast |
| Egypt | Banque du Caire |
| Ghana | Standard chartered |
| Kenya | Stanbic Bank Kenya |
| Mauritius | Standard chartered |
| Morocco | SGSS Morocco |
| Mozambique | Standard Bank Mozambique |
| Namibia | Standard Bank Namibia |
| Nigeria | Stanbic IBTC Bank |
| South Africa | Rand Handelsbank |
| Tunisia | UIB/SGSS Tunisia |
| Asiatic-Pacific | DBS |
|---|---|
| Australia | BNP Paribas |
| China | Chinese Construction Bank |
| Hong-Kong | Standard chartered |
| India | DBS |
| Indonesia | Standard chartered |
| Japan | MUFG |
| Malaysia | Standard chartered |
| Mongolia | Khan bank |
| New Zealand | HSBC |
| Pakistan | Standard chartered |
| Philippines | Standard chartered |
| Singapore | DBS |
| South Korea | Hana Bank |
| Sri Lanka | Standard chartered |
| Taiwan | CTBC |
| Thailand | Bangkok bank |
| Vietnam | Standard chartered |
| Central and Eastern Europe | Unicredit |
|---|---|
| Armenia | AraratBank |
| Bosnia and Herzegovina | UniCredit bank |
| Bulgaria | UniCredit Bulbbank |
| Croatia | OTP Croatia |
| Czech Republic | Komercni banka (SGSS) |
| Estonia | S.E.B |
| Georgia | Bank of Georgia |
| Hungary | UniCredit Bank Hungary |
| Kazakhstan | Eurasian bank |
| Latvia | S.E.B |
| Lithuania | S.E.B |
| Poland | Bank Pekao |
| Romania | BRD Group Societe Generale |
| Serbia | UniCredit Bank Serbia |
| Slovakia | CSOB |
| Slovenia | UniCredit Bank Slovenia |
| Turkey | TEB |
| Latin America | Citi |
|---|---|
| Argentina | Citi |
| Brazil | Bradesco |
| Chili | Banco de Chile |
| Colombia | Citi |
| Mexico | Citibanamex |
| Panama | Citi |
| Paraguay | Banco Itau Paraguay |
| Peru | Citi |
| Uruguay | Banco Itaú Uruguay |
| Middle East | First Abu Dhabi Bank |
|---|---|
| Bahrain | First Abu Dhabi Bank |
| Jordan | Bank of Jordan |
| Kuwait | First Abu Dhabi Bank |
| Oman | Standard chartered |
| Qatar | Standard chartered |
| Saudi Arabia | First Abu Dhabi Bank |
| United Arab Emirates | First Abu Dhabi Bank |
| North America | CIBC Mellon |
|---|---|
| Canada | CIBC Mellon |
| United States | State Street |
| Western Europe | BNP Paribas |
|---|---|
| Austria | UniCredit Bank Austria |
| Belgium | BNP Paribas |
| Cyprus | Eurobank |
| Denmark | S.E.B |
| Finland | S.E.B |
| France | Societe Generale Securities Services |
| Germany | Commerzbank |
| Greece | Eurobank |
| Iceland | Eilandenbanki |
| Ireland | JPMorgan |
| Italy | BNP Paribas |
| Luxembourg | BNP Paribas |
| The Netherlands | BNP Paribas |
| Norway | S.E.B |
| Portugal | New Bank |
| Spain | BBVA |
| Sweden | S.E.B |
| Switzerland | Societe Generale Securities Services |
| United Kingdom | HSBC |
