LBBW has once again maintained its leading global position in export finance: According to the London-based trade information service Trade & Export Finance (TXF), LBBW is once again ranked second place among world's Top Performing Banks in Export Finance in 2024, according to this year's TXF Export Finance Research Report. This is the sixth time that LBBW has been ranked among the best banks worldwide. This is impressively underpinned by two further awards that recognize LBBW's commitment to sustainable transformation.
In order to determine the world's best banks for export finance, TXF has compiled the opinions of various market participants - a total of over 500 exporters and importers around the world - in a detailed study for the eleventh time. Over 30 banks were compared to each other. Key categories in which LBBW particularly stands out from the market are excellent customer service, industry expertise, pricing and the appetite for sustainable deals.
"We are delighted to receive such a high level of appreciation from our customers in the TXF global customer survey. We are very proud to hold the award as one of the world's Top Performing Banks in Export Finance in our hands after another year of great commitment. This award motivates us to continuously improve our performance in the interests of our customers", says Nanette Bubik, Head of Export Finance at LBBW.
The survey's representativeness is reflected in its enormous reach: More than 500 importers and exporters were questioned in this year's survey. The majority of respondents are based in Europe. Most of the remaining survey participants come from the Asia-Pacific region. Contrary to the concept of classic league tables, the TXF Export Finance Research Report is not based on purely quantitative financing volumes. Instead, the qualitative factors, such as market expertise and customer understanding, are evaluated.
"The TXF Industry Choice awards were established in 2013 to celebrate the achievements of the most successful and respected financial institutions in export finance. Well done to LBBW for their continued excellence in this category - a fantastic achievement for the whole team“, says Dan Sheriff, CEO of TXF.
LBBW has also won each a "Deals of the Year" award for two flagship transactions that contribute to the transformation of the economy. Specifically, these are a hydropower plant and a high-speed rail line - both renewable energies and infrastructure are essential sectors for the transformation. For the vote, banks were asked to submit transactions that they consider to be outstanding, particularly for the market, the sector, the country or "groundbreaking" in terms of structure.
"Standing by our clients with outstanding expertise and commitment, even in challenging times, is our aspiration. Overcoming current global challenges requires us to be reliable partners for our clients. This enables us to grow all together. Our sixth award as a global Top Performing Bank is confirmation of the continuity and excellence of our team's performance. I am also pleased that our efforts to be an enabler of sustainable transformation have been recognized by the two outstanding ‘Deals of the Year‘", explains Michael Maurer, Head of Global Trade & Export Finance at LBBW.
The awards will be presented at the TXF Global Conference in Athens on June 12, 2024.
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Henrike Reichert