The bank won the accolade for its clear leadership in market share for Forex(Fx) solutions in Kenya.
Global Finance selected Standard Chartered Bank based on objective and subjective factors with the criteria including transaction volume, market share, global coverage, customer service, competitive pricing and technology.
“The bank has a strong FX culture, exceptional network and the best foreign exchange trading systems which enable us to offer leading FX solutions to our clients,” Area Head, Forex Trading, Chris Rwengo said.
“By combining our local knowledge with our global expertise amassed from our unrivaled network across Asia, the Middle East and Africa, coupled with our technological capabilities, we are best positioned to provide leading solutions that help our customers meet their FX needs”, he added.
On his part, Chief Executive Officer, Richard Etemesi said that this recognition was an excellent reflection of the Bank’s strategy of sticking to the basics of banking and delivering on its promise to customers, shareholders, regulators and the community.
Standard Chartered trades in all major and other international currencies – 30 African currencies and over 100 currencies globally – and has full capability around FX spot and forwards, FX options, interest rate swaps (IRS), cross currency swaps (CCS), commodity hedging solutions and structured products.
The bank has FX sales and trading capabilities covering 12 countries in Africa, including Botswana, Cameroon, Cote D’Ivoire, Gambia, Ghana, Kenya, Nigeria, Sierra Leone, South Africa, Tanzania, Uganda and Zambia.
In addition to the Kenya award, Global Finance recognised Standard Chartered’s Forex capabilities in Sierra Leone and Gambia.