Deutsche Bank grabbed the top position in the Instanex Survey of Depositary Bank 2002, replacing Citibank, which was the topper in the 2000 survey.
The Citibank ranked second in the 2002 survey followed by Bank of New York at the third slot and J P Morgan positioning at the fourth position.
With its good performance, Deutsche Bank increased the points tally to 310.36 in the 2002 survey. Citibank scored 290.17 points, Bank of New York at 271.22 points and J P Morgan at 269.46 points.
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The survey report is based on the responses during August and September 2001 by 47 companies. Of these, 44 have conducted 54 depositary programmes (global depository receipts/American depositary receipts) and three are prospective issuers.
The survey was conducted to assist senior management at depositary banks to better understand issurer expectations, preceptions and satisfaction level.
The issuer expectations report indicates that companies continue to rate a clear proposal from the depositary bank, most highly in the pre-issue section and accuracy of documentation in the during issue section.