Mizuho Bank recognised for its deposit-focused growth strategy as it wins Best Asian International Transaction Bank in Asia Pacific at The Asian Banker Transaction Awards Programme 2019
- Focus on deposit-based growth helped Mizuho Bank post strong financial results
- Won mandates leveraging power of its network and connectivity
- Achieved centralisation through implementation of Robotics Process Automation (RPA)
Bangkok, May 30th, 2019 — Mizuho Bank received the award for Best Asian International Transaction Bank in Asia Pacific at The Asian Banker Transaction Awards 2019. The award ceremony was held in conjunction with the prestigious Future of Finance Summit 2019, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Shangri-La Hotel, Bangkok, Thailand.
In the picture: Mathew Welch and Bill Chua; Members of the International Advisory Council and SiddharthChandani; Researcher; The Asian Banker with Mr. Devashis Das, Managing Director; Mizuho Bank
Focus on deposit-based growth helped Mizuho Bank post strong financial results
Matching ambitions of its customers, Mizuho Bank’s deposit-led growth strategy, helped the bank achieve significant growth rate in transaction business while keeping its business volumes stable. Revenue grew in double digits while deposit balances had a healthy growth as well. A sustained growth across key indicators and a reduction in expenses helped the bank achieve healthier margin in 2018. The bank’s unique set up of corporate head office in Tokyo and transaction banking head office in its Asia-Pacific hub of Singapore along with local country desks in majority of locations in Asia gives the bank an advantage in servicing clients in their head quarter as well as local operations in a much more coordinated fashion.
Won mandates leveraging power of its network and connectivity
With a strong global, regional and local integration of its resources, the bank has been successful in delivering a unique set of mandates. Mandate in Myanmar for one of the largest international agencies leveraging its strong presence in the market, local capabilities, local bank alliances for cash collection, cheque issuance and payroll helped it garner substantial profits from FX flows and replicating a likewise deal in other locations. The bank also implemented a mandate for a Singapore headquartered real-estate company in the Americas, involving capital injection and funding to extending new current accounts.
Achieved centralisation through implementation of Robotics Process Automation (RPA)
In 2018, the bank made significant amount of automation in many processes across all locations using Robotic Process Automation (RPA). Although, this was done on a global basis, using common policies, procedures, and tools led by each location, but was executed by a central RPA team from its HQ in Tokyo to administer centralisation of operations across all centres which support its branch network.
The Asian Banker Transaction Awards Programme, refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind in Asia Pacific. Recipients of these awards are honoured in a gala event that recognises their efforts in bringing superior products and services to their customers. A stringent and comprehensive evaluation process determines the awardees. For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.asianbankerawards.com/transactionawards/index.php