[ S U R V E Y | A G E N T B A N K S I N F R O N T I E R M A R K E T S ]
Kuwait
Kuwait continues to deliver strong scores, maintaining its reputation for high service standards. Asset Safety sees a significant year-on-year rise of 40 basis points to 6.40, while Asset Servicing remains strong at 6.00, consistent with last year and well above the 5.00 recorded in 2022, reflecting steady service delivery. Similarly, Account Management holds steady at 6.00, maintaining its 2024 score and improving significantly from 5.20 in 2022. However, there has been some decline in certain areas. Cash Management and FX dropped to 5.60 from 6.00 last year. Pricing remains stable at 5.00, unchanged from 2024. The most notable drop is in Technology, where the score fell to 5.20 from 6.00 in 2024. Clients continue to speak highly of providers in the market. Standard
Latvia
Latvia delivers a solid performance in 2025, with an overall average score of 5.91, slightly down from last year. Asset Safety, Asset Servicing, and Technology all maintain high ratings of 6.20, reinforcing the market’ s stability and reliability. However, Pricing remains the weakest category at 4.80, showing no change from the previous year. This stabilisation in scores is not unexpected, considering the significant boost Latvia experienced in 2024. That year saw an increase in overall ratings to 5.94, driven by improvements in Client Service, Asset Safety, and Technology, all reaching 6.20. Unlike many other markets in this report, Client Service and Relationship Management( 6.00) is not the highest-rated category. However, it remains the most critical factor for clients when selecting a provider. Encouragingly, respondents unanimously rate the service they receive from providers in Latvia as either Above Average or Outstanding, underscoring the market’ s strong reputation for quality service.
Kuwait 2025 2024 Global Difference Account Management 6.00 6.00 5.72 0.28 Asset Safety 6.40 6.00 5.81 0.59 Asset Servicing 6.00 6.00 5.75 0.25 Cash Management and FX 5.60 6.00 5.46 0.14 Client Service and Relationship Management 6.20 6.00 5.96 0.24 Pricing 5.00 5.00 4.79 0.21 Technology 5.20 6.00 5.08 0.12 Average 5.77 5.86 5.51 0.26
Chartered Bank is praised for its“ excellent service,” with clients expressing high satisfaction. HSBC is rated“ Outstanding” by respondents, with unanimous agreement that they would recommend the bank to industry peers. Meanwhile, First Abu Dhabi Bank stands out in Asset Safety, earning strong client feedback in this category. When selecting a provider, Client Service and Relationship Management( 6.20) is the top priority for respondents, followed by Account Management( 6.00). Interestingly, while Asset Safety received the highest score, it ranks only fifth in importance for clients when choosing a provider.
Latvia 2025 2024 Global Difference SEB Account Management 6.00 6.00 5.72 0.28 6.25 Asset Safety 6.20 6.20 5.81 0.39 6.25 Asset Servicing 6.20 6.20 5.75 0.45 6.25 Cash Management and FX 6.00 6.00 5.46 0.54 6.33 Client Service and Relationship Management 6.00 6.20 5.96 0.04 6.25 Pricing 4.80 4.80 4.79 0.01 5.25 Technology 6.20 6.20 5.08 1.12 6.25 Average 5.91 5.94 5.51 0.40 6.12
SEB SEB this year outperforms the global average across every category, maintaining its strong track record in 2025. With an overall average score of 6.12, SEB sits 61 basis points above the global average( 5.51). The most striking year-on-year difference is in Technology( 6.25), which surpasses the global average( 5.08) by an impressive 117 basis points. Cash Management and FX( 6.33) also stands out, beating the global average by 87 basis points, with clients describing SEB as“ very competitive” in this area. Notably, this is the only category that has seen an increase from SEB’ s 2024 score, rising by 0.08 points.
Despite a general plateau in scores from previous years, this stability is not unexpected. SEB has consistently received Very Good ratings across most categories, with Pricing( 5.25) being the only category outside this range. The significant uptick in ratings seen in 2023 has since levelled off, suggesting not a decline, but rather SEB’ s ability to maintain its strong performance year after year. Clients echo this sentiment, with feedback such as“ Overall, SEB provides a high level of service in these markets” and nearly unanimous agreement that they would recommend SEB to peers in the industry.
Spring 2025 globalcustodian. com 63