In 2025, the corporate trust landscape across Asia-Pacific demonstrated remarkable resilience and adaptability. A rebound in selected bond markets and a flurry of refinancing deals drove heightened market activity, even as companies navigated geopolitical uncertainties, regulatory changes, and economic shifts.

Corporate trust service providers excelled by delivering innovative, digitally enabled solutions while upholding stringent fiduciary standards, fostering long-term client confidence in an increasingly complex environment.

A defining trend was the premium placed on digital integration and operational excellence.

Leading institutions invested heavily to provide robust, digitally enabled issuer services, seamless client servicing platforms, and advanced risk management tools. These capabilities enabled efficient handling of intricate cross-border mandates and improved transparency for issuers.

In Hong Kong and Singapore, the best service providers stood out for their institutional-grade controls and digital platforms that supported large-scale refinancing and complex structures with precision and speed.

Cross-border expertise and regional connectivity proved equally critical. Banks with deep China links and pan-Asia networks remained competitive in cross-border mandates, supporting capital market transactions through tailored trustee, agency, and custody services.

This was particularly evident in Hong Kong, where strong connectivity complemented bespoke administrative roles in major deals.

In such markets as India and Thailand, meanwhile, strong execution capabilities in bond issuance and loan servicing reinforced providers' agency trust capabilities, helping corporates navigate diverse regulatory landscapes with confidence.

Sustainability-linked mandates also became an increasingly important area of activity.

In Indonesia, leadership in trust structures for renewable energy and waste-to-energy projects highlighted how corporate trust services are aligning with the region’s green transition ambitions. This focus on sustainable mandates not only addresses client demands but also positions providers as strategic partners in long-term economic development.

Specialized capabilities in structured finance and debt capital markets further differentiated winners.

South Korea’s market highlighted the growing demand for expertise in asset-backed securities (ABS), escrow, and agency services, supported by integrated platforms that facilitate both domestic and international flows.

Australia saw recognition for technical prowess in handling complex local mandates, particularly in syndicated debt and structured financing transactions, reflecting the ongoing sophistication of its corporate debt ecosystem.

HSBC’s strong performance across multiple markets, including wins in Hong Kong, India, Singapore, and Thailand, illustrates the value of scale, local presence, and comprehensive issuer services.

This year’s awards also reflected diversity with Deutsche Bank’s success in Australia, DBS’s innovation in Indonesia and Singapore, the cross-border strengths of China Construction Bank (Asia) in Hong Kong, and Citi’s structured finance leadership in South Korea, demonstrating that specialized regional knowledge and client-centric approaches deliver competitive edges.

Overall, 2025 reinforced corporate trust as a cornerstone of Asia-Pacific capital markets. Success hinged on blending fiduciary discipline with technological innovation, cross-border agility, and responsiveness to sustainability imperatives.

As the region’s economies continue to integrate and evolve, corporate trust providers are not merely facilitators but essential enablers of stability and growth. Their ability to build and sustain client confidence amid volatility will shape the sector’s trajectory well into the latter half of the decade.

It is in this context that we announce the winners of The Best in Corporate Trust Awards 2026, as part of The Asset Triple A Sustainable Investing Awards for Institutional Investor, ETF, and Asset Servicing Providers 2026

AUSTRALIA

Deutsche Bank

Deutsche Bank wins the Best in Corporate Trust Award in Australia in recognition of its exceptional service, technical expertise, and commitment to delivering innovative trust and agency solutions for complex local mandates.

HONG KONG

HSBC – Winner

HSBC is honoured as the Best in Corporate Trust in Hong Kong for its dominant market position, robust digital integration, and premier fiduciary services for debt issuers, as it played a significant role as a bespoke administrative agent in one of the largest refinancing exercises in the market in 2025.

China Construction Bank (Asia) – Highly Commended

China Construction Bank (Asia) is recognized for its deep cross-border expertise, strong China connectivity, and comprehensive fiduciary capabilities in Hong Kong. The bank continues to support complex capital market transactions through tailored trustee, agency and custody solutions backed by experienced transaction banking professionals.

INDIA

HSBC

HSBC grabs the title of the Best in Corporate Trust in India for its strong execution capabilities, structuring expertise, and extensive issuer services platform. Its robust expertise in bond issuance, MTN programmes, and innovative trust solutions for diverse industries reinforce client confidence and cement the bank’s status as India’s premier corporate trust partner.

INDONESIA

DBS

DBS Bank is the leader in corporate trust in Indonesia, based on its expertise in trust structures for sustainable projects, including waste-to-energy and renewable energy, underscoring its reliability, innovation, and deep client confidence as a trusted corporate partner in the Southeast Asian market.

SINGAPORE

HSBC – Winner

HSBC’s recognition as the Best in Corporate Trust in Singapore reflects its robust fiduciary governance, institutional‑grade risk controls, and seamless cross‑border servicing. Its scale, digital custody infrastructure, and consistently excellent execution make it the region’s most reliable partner for complex structures and long‑term client confidence.

DBS – Highly Commended

DBS garners distinction in corporate trust for its strong fiduciary discipline, precise execution for complex structures, and client‑centric digital servicing. Its regional expertise and reliability make it a trusted partner for issuers seeking stability and operational excellence.

SOUTH KOREA

Citi

Citi’s integrated corporate trust platform, deep expertise in Korean structured finance and debt capital markets, and strong cross-border execution capabilities set it apart from peers during the review period. Its leadership in ABS transactions, and escrow and agency services, combined with advanced digital servicing infrastructure, reinforced its position in Korea’s evolving corporate trust market.

THAILAND

HSBC

HSBC is recognized as the Best in Corporate Trust in Thailand in recognition of its deep capital-markets expertise, strong cross-border issuer services, and longstanding local presence. Its integrated trustee, agency, and loan-servicing capabilities have helped corporates execute complex transactions with confidence and efficiency.

Please click here for the full list of winners,

To learn more about these awards please go here.

To join the in-person annual celebratory dinner in Hong Kong on June 30, 2026, please contact us at celebrate@theasset.com.