Cash Pooling - cross border

Corporate Treasury: Approaches to In-House Banking

Report date: 
21 Apr 2026

Commentary

Cash pooling and sweeping is one of the most basic and widespread tools in modern cash management. To the extent allowed under exchange controls and regulations, it is important to bring all the liquidity into a central entity, and avoid having cash balances earning little to no interest, while some entities are borrowing and paying spreads. 

By definition, this central entity performs the functions of a bank: it is taking deposits and making loans - for tax reasons, it needs to pay and charge interest on the balances. This also means it faces a lot of the challenges banks have: it needs good systems to track the loan balances and calculate and post the interest, and it also needs to ensure any FX exposures are properly identified and managed. Of course, it also needs to have access to sufficient group funding to meet the group’s net cash needs.

Unsurprisingly, once they have set up the relevant structures, many treasurers find they can be used to provide additional functions: POBO (Payment On Behalf Of) is quite common; ROBO (Receive On Behalf Of) exists but is less frequent. Some, but not all, have used their in-house banks to eliminate intercompany netting: any transaction between group companies gives rise to a debit or a credit to their accounts with the IHB, which will be cash settled or not in accordance with regulations and cash management policies. The central entity can also be used for FX management, executing trades with the market and doing back-to-back intercompany hedges. 

In this call, peers went through the systems they use, and gave a frank assessment of the benefits and drawbacks of IHBs – it is not all plain sailing. 

 

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Topics covered in this report: 
in-house bank, Netting, Cash Pooling - cross border, POBO/ROBO, Funding, Hedging FX, Virtual accounts
Service providers discussed in this report: 
Chatham Financial, Citi, FIS, Wall Street Systems, Kyriba, SAP, TIS, SWIFT

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Corporate Treasury & Banking in the Balkans

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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Bank Relationships in the Middle East

Report date: 
19 Mar 2026

This report covers:

  • Commentary and Key Findings - please Register / LogIn to access this free commentary - a subscription is required to download the full report, or it can be purchased individually -  Enquire here
  • Bank Presence by Country
  • Banking Strategy and Consolidation
  • Treasurers' feedback on banks
  • HSBC
  • Standard Chartered
  • Citibank
  • JP Morgan
  • Deutsche Bank
  • Local and Regional Banks
  • Saudi Arabia — Structures and Challenges
  • Cash Management and Liquidity
  • Technology and Digital Banking
  • Organisational Structures and Regional Treasury Centres
  • Experiences in individual countries
  • UAE
  • Saudi Arabia
  • Kuwait
  • Oman
  • Qatar
  • Jordan
  • Lebanon
  • Iraq
  • Egypt
  • Turkey

 

 

Topics covered in this report: 
Bank Relationships, Cash Pooling - cross border, Notional Pooling, Cash Repatriation, Funding, Political Risk, Cards
Service providers discussed in this report: 
Amex, Bank of America, Citi, JP Morgan, HSBC, Standard Chartered, Deutsche Bank, SABB

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Corporate Treasury & Banking in China

Report date: 
10 Feb 2026

Log in / Register to read the latest CompleXCountries (CXC) commentary on Corporate Treasury & Banking in China has now been published. It adds to a growing archive of corporate treasury knowledge relating to China - Browse 18 commentaries with associated reports here - all sourced from detailed confidential peer discussions between the treasurers of multinational companies with operations in China - the report  includes approaches and experiences with:

  • Regulatory environment and regulatory uncertainty
  • Engagement with regulators and regional variation
  • Cross-border cash pooling frameworks (SAFE and PBOC)
  • Cash repatriation methods (dividends, pooling, intercompany loans)
  • Trapped cash and liquidity management
  • Use and limitations of cross-border and back-to-back loans
  • Decisions not to implement pooling and alternative structures (notional pooling)
  • Relationships with local Chinese banks versus international banks
  • Service quality and challenges with Chinese banks
  • Role and performance of international banks
  • Domestic cash pooling and cash reporting
  • FX management, interest rates, and bank competition
  • Onshore (CNY) versus offshore (CNH) renminbi markets
  • Short-term investments 
  • Funding structures (equity, intercompany loans, onshore bank loans)
  • Supplier financing programmes and associated regulatory/KYC issues

International banks discussed in the report include: HSBC, Standard Chartered, JP Morgan, Deutsche Bank, Mizuho, Commerzbank and Citi

Chinese Banks include ICBC &  Bank of China

Topics covered in this report: 
Cash Pooling - cross border, Cash Pooling - domestic, Notional Pooling, Funding, Money Market Funds, Investments, Supply Chain Finance, Bank Relationships, FX, Hedging FX, guarantees
Service providers discussed in this report: 
Standard Chartered, HSBC, Deutsche Bank, Citi, JP Morgan, Mizuho, Commerzbank, Bank of China, ICBC, amundi

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Corporate Treasury & Banking in Israel

Report date: 
3 Dec 2025

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The new CompleXCountries report on Banking and Corporate Treasury in Israel has now been published and is available to subscribers or can be purchased individually. The report is based on a detailed peer discussion between senior corporate treasury professionals from Europe, the Middle East and Asia in which they shared and compared their approach and experiences with managing their corporate treasury in Israel and compared experiences with different banking partners.

The report includes:

  • Integration with global treasury structures
  • Banking relationships - local & global banks
  • Language and system challenges
  • Withholding tax challenges
  • Local organisational structures
  • Cash pooling practices, domestic, cross border (physical and notional).
  • Local payments & collections
  • Funding
  • Contingency planning

Service providers discussed in this report include: HSBC, Citi, Bank Mendes Gans, Bank Leumi, Bank Hapoalim and  Mercantile.

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Topics covered in this report: 
Bank Relationships, Cash Pooling - cross border, Cash Pooling - domestic, Notional Pooling, Funding, withholding tax, Payments - domestic, Payments - cross border, Business continuity
Service providers discussed in this report: 
HSBC, Bank Mendes Gans, Citi, Bank Leumi

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Corporate Treasury, FX & Bank Relationships in Egypt

Report date: 
24 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

  • Foreign exchange regulations and practices
  • Use and management of Letters of Credit (LCs)
  • FX availability 
  • Methods of managing foreign currency flows
  • Payment terms in the market
  • Funding structures and intercompany financing
  • Cash management and liquidity
  • Exchange-rate exposure and losses
  • Corporate legal structures in Egypt
  • Local vs. imported manufacturing setups
  • Bank relationships and banking landscape
  • Geopolitical context and external investments
  • Overall business environment and operating conditions

Service providers discussed  in the full report: HSBC, Citi, Standard Chartered

 

Topics covered in this report: 
Bank Relationships, Hedging FX, FX, Cash Pooling - cross border, Cash Pooling - domestic, Funding, Investments, Letters of Credit (LC)
Service providers discussed in this report: 
Citi, HSBC, Standard Chartered

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How MNCs manage Corporate Treasury in Turkey

Report date: 
22 Oct 2025

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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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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 Challenges in South East Asia

Report date: 
10 Jul 2025

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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: 
ASEAN, Bank Relationships, Cash Pooling - cross border, Cash Pooling - domestic, Trapped cash, KYC, Cash Repatriation, FX, Regional Treasury Centre, Regulatory relationships
Service providers discussed in this report: 
JP Morgan, DBS, Standard Chartered, Deutsche Bank, Citi, HSBC, Bank Ayudhya (MUFG), MUFG, Mizuho, Bank of America, Bank of PhilippineIslands, Bank Negara Malaysia, Bangkok Bank, Kyriba, Starfish Digital

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

Report date: 
18 Jun 2025

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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: 
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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