Citi tops global transaction banking ranks: Coalition
Citi was the top bank last year in transaction banking, a segment comprising trade finance and cash management services, rankings compiled by industry analytics firm Coalition showed on Tuesday.
This is the first time Coalition has ranked banks on transaction banking, basing the scores on services provided to clients with annual turnover of over $1.5 billion.
Cash management encompasses services such as direct debits, wire transfers and currency clearing, while trade finance can include items such as letters of credit and trade loans.
Coalition regularly releases investment banking league tables and its 2016 rankings, released last month, showed U.S. banks grabbing the top five places.
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