(12 May 2025 – Asia) New research reveals that corporate switching intent in Asia’s trade finance market remains elevated, but varies significantly across key regional markets, with upwards of 50 percent of India’s top corporates open to new trade finance partners.
Analytics from East & Partners’ Asia Trade and Supply Chain service shows while 13.9 percent of corporates across the region say they are “very likely” to change trade finance providers, this figure climbs notably in India (17.6 percent) and Hong Kong (15.8 percent), while remaining more conservative in China (9.7 percent) and Singapore (10.5 percent).
In addition, “possible” switching behaviour is highest in India (35.2 percent) and Hong Kong (33.7 percent), reinforcing the view that banks servicing clients in these markets must act now to strengthen loyalty and prevent attrition. Meanwhile, Singapore stands out with the highest percentage of corporates unlikely to switch (36.9 percent), suggesting a more stable client base, but also a more competitive battle for market share among incumbents.
China shows the highest concentration of uncertainty, with 22.6 percent of businesses responding “not sure” or “don’t know”, indicating a market that may be ripe for disruption by players offering better visibility, service, and digital innovation. Across the region, the research is clear: nearly half the market is open to change, and the banks that invest in relationship depth, digitisation, and supply chain integration are best positioned to win.
East & Partners’ Asia Trade and Supply Chain service will be with our banking clients over the coming months to help support them navigate the current uncertainty and volatility in global trade needs. Talk to us now about how it can support your team: sian.k@eastandpartners.com