BNP Paribas

Corporate Treasury & Banking in Greece, Bulgaria, Croatia, Slovenia, Romania, Serbia, Kosovo, Bosnia & Herzegovina and North Macedonia

Report date: 
13 Apr 2026

The Balkans is a difficult environment for corporate treasurers. Regulatory complexity, FX controls, multiple languages and scripts and limited presence of international banks mean that work arounds are often required. For example, SEPA (the Single European Payments Area): requires international transfer fees within the area to be aligned with local ones -  Most countries now price cross border transfers as local ones; Greece does the opposite. As a result, internal transfers in Greece are prohibitively expensive.

 

Our detailed report covers Treasurers’ experiences and approaches to Greece, Bulgaria, Croatia, Slovenia, Romania, Serbia, Kosovo, Bosnia and Herzegovina and  North Macedonia.

 

Banks discussed in the report include: Citi,Raiffeisen Bank, UniCredit, BNP Paribas, Société Générale, Alpha Bank, National Bank of Greece, Piraeus Bank, Eurobank, Zagrebačka Banka, OTP Bank, Komercijalna Banka Skopje and  BRD Société Générale.

 

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Topics covered in this report: 
Bank Relationships, Cash Pooling - cross border, Cash Pooling - domestic, Notional Pooling, FX, Payments - cross border, Payments - domestic, payroll, KYC, Cash Repatriation
Service providers discussed in this report: 
BNP Paribas, Raiffeisen, Unicredit, Citi, Société Générale, Alpha Bank, National Bank of Greece, Piraeus Bank, Eurobank, Zagrebačka Banka, OTP Bank, Komercijalna Banka Skopje

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Corporate Treasury - Bank Relationships in Latin America

Report date: 
3 Mar 2026

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Topics covered include:

  • Bank relationship strategy in Latin America
  • Balancing global and local banking models
  • Managing credit lines and wallet allocation
  • Bank market exits and entries
  • Service levels, pricing and appetite
  • Tax payments
  • Foreign exchange
  • FX documentation and use of proprietary platforms
  • Financial transaction taxes and tax payment processes
  • Payroll 
  • Brazil’s forthcoming tax reform and operational implications

International Banks discussed in the report include:

Bank of America, BBVA, Bradesco, Citi, Itaú, JPMorgan, Santander, Scotiabank, Deutsche Bank, BNP Paribas & HSBC

Topics covered in this report: 
Bank Relationships, FX, Payments - cross border, Payments - domestic, payroll, tax payments, Cash Management, Cash - deposits, Collections - domestic, Working Capital, Supply Chain Finance, Factoring
Service providers discussed in this report: 
JP Morgan, Bank of America, Santander, Bradesco, Itau, Citi, HSBC, Scotia, BBVA, BNP Paribas, Deutsche Bank, Rabobank, ICBC, Banamex, Banco de Bogotá, Banco de Chile, Banco de Brasil, Banco Galicia, Banco Pichincha, Banco Atlantida, Banco Nacional de Panama, First Bank (Peru)

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Banking in India: Relationships & Technology

Report date: 
16 Dec 2025

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The new CompleXCountries report on Banking in India: Relationships & Technology has now been published. The report is based on a detailed peer discussion between senior corporate treasury professionals from Europe and Asia in which they shared and compared their experiences with their relationship banking partners in India with a focus on how the Indian Government's digitisation initiatives are being experienced.

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The report covers practical experiences with:

  • Digitalisation
  • Bank Relationships - pricing & performance
  • Global Banks
  • Indian Banks
  • Bank portals & services
  • Bank guarantees
  • FX
  • FX Hedging
  • Tax & Customs payments
  • Funding 
  • Cards / T&E

The banks discussed in the full report include: JP Morgan, DBS, Citi, HSBC, BNP Paribas, Standard Chartered, Barclays, ICICI, HDFC, Kotak Mahindra Bank and State Bank of India

Topics covered in this report: 
Bank Relationships, guarantees, FX, Hedging FX, Funding, GiftCity, T&E Management, Cards, Tax, Customs, Dividends, Royalties, Cash Repatriation
Service providers discussed in this report: 
ICICI, JP Morgan, Barclays, HSBC, Citi, DBS, BNP Paribas, Standard Chartered, HDFC, Kotak Mahindra Bank, State Bank of India, FBIL

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Corporate Treasury & FX in Brazil

Report date: 
5 Nov 2025

The full report covers current practices in relation to the list below. To read our commentary (analysis and key findings)  please Log In or Register

  • Changes to IOF tax and its impact on FX, loans, and domestic cash structures
  • FX transaction practices 
  • Cross-border funding and capital structure considerations
  • Potential introduction of dividend withholding tax
  • Viability of including Brazil in a notional pooling structure under new rules
  • Use of boletos and e-boletos for collections
  • Adoption and growth of the Pix payment system
  • FX hedging, interest rates and BRL volatility
  • Use of structured products and offshore hedging
  • Investment of surplus cash
  • Payroll practices 
  • Tax payments
  • Working Capital Finance
  • Bank Relationships: local vs. global banks and service levels
  • Regulatory, tax and operating environment in Brazil

Service providers discussed  in the full report: Bradesco, Itaú, Banco do Brasil, Santander, Citi, JPMorgan, Bank of America, BNP Paribas, Bank Mendes Gans, Deutsche Bank, BBVA, Caixa, FXall and 360T

 

Topics covered in this report: 
FX, Hedging FX, Cash Pooling - domestic, Notional Pooling, Funding, Working Capital, Supply Chain Finance, Factoring, Tax, withholding tax, Dividends, Boletos, PIX, Investments
Service providers discussed in this report: 
360T, FXall, BBVA, Bradesco, Itau, JP Morgan, Santander, Bank of America, BNP Paribas, Banco de Brasil, Citi, Bank Mendes Gans, caixa, Deutsche Bank

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How MNCs manage Corporate Treasury in Turkey

Report date: 
22 Oct 2025

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CXC reports are based on confidential peer discussions between senior corporate treasurers sharing their solutions to complex treasury challenges.

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Topics covered in this report include:

  • Turkey’s recent economic conditions and inflation trends
  • Currency depreciation and exchange rate developments
  • Business and regulatory environment in Turkey
  • Tax structure and compliance challenges
  • Funding options and financing practices for companies
  • Use and impact of the Resource Utilisation Support Fund (RUSF)
  • Stamp duty and its implications for loans
  • Inter-company loans and cash management strategies
  • Hedging approaches and accounting under hyperinflation
  • Treatment of interest and foreign exchange transactions
  • Equity funding and capital management in subsidiaries
  • Cash pooling arrangements and restrictions
  • Role of international and local banks in Turkey
  • Bureaucracy and documentation requirements
  • Payment processing and local PSP requirements
  • Overall outlook and long-term confidence in the Turkish market

Banks discussed in this report include: Bank Mendes Gans, JP Morgan, Garanti, TEB, Citi, and ING

 

Topics covered in this report: 
Accounting Measurements, Bank Relationships, Cash Pooling - domestic, Notional Pooling, Funding, Cash Repatriation, Cash Pooling - cross border, Investments, Funding, Working Capital, Tax, PSP, FX, Hedging FX, Inflation
Service providers discussed in this report: 
JP Morgan, BNP Paribas, Bank Mendes Gans, ING, TEB, Garanti BBVA, Citi

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Treasury Management in Argentina

Report date: 
1 Oct 2025

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Topics covered in this report: 
BOPREAL bonds, Cash - deposits, Cash Repatriation, Trapped cash, FX, Hedging FX, Political Risk
Service providers discussed in this report: 
ICBC, BNP Paribas, BBVA, Santander, Citi, JP Morgan, Itau

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Corporate Treasury: Approaches to Cash Pooling

Report date: 
17 Sep 2025

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Topics covered in this report: 
Cash Pooling - cross border, Cash Pooling - domestic, Zero balance accounts, in-house bank, withholding tax, Tax, Notional Pooling, Virtual accounts, POBO/ROBO, Target Balance Account
Service providers discussed in this report: 
Bank Mendes Gans, BNP Paribas, JP Morgan, Deutsche Bank, HSBC, Citi, Bank of America, MUFG, Standard Chartered, Commerzbank, PNC, Bank of Montreal

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Banking & Cash Management in Saudi Arabia and the United Arab Emirates

Report date: 
18 Jun 2025

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CXC reports are based on confidential peer discussions between senior corporate treasurers sharing their solutions to complex treasury challenges.

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Topics covered in this report: 
Bank Accounts, Bank Relationships, Cash - deposits, Cash Pooling - cross border, Cash Pooling - domestic, Cash Repatriation, Local ownership
Service providers discussed in this report: 
JP Morgan, BNP Paribas, HSBC, Standard Chartered, Bank of America

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User Experiences with Virtual Bank Accounts

Report date: 
20 May 2025

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CXC reports are based on confidential peer discussions between senior corporate treasurers sharing their solutions to complex treasury challenges.

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Our reports are packed with practical, experience based learning allowing users to benchmark their operations and identify proven, actionable efficiencies - please get in touch for details.

 

Topics covered in this report: 
Virtual accounts, POBO/ROBO, COBO, in-house bank, Cash Pooling - cross border, Cash Pooling - domestic, payroll
Service providers discussed in this report: 
BNP Paribas, Citi, JP Morgan, Wells Fargo, Barclays, HSBC, FIS, Coupa, Blackline, SAP, Deutsche Bank

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