It is very difficult to make acceptable returns in traditional corporate banking. It is too expensive and risky to just lend money. So you have to get the transaction fees and cash management revenue. As a result, many more local banks will also be building up their cash management expertise and looking to hire people with cash management experience. There is no question about it.
Cash management is the lifeblood of a companies' treasury operations.
As credit is easier to come by these days, companies are focusing more on risk management and transaction efficiencies. Corporates need to make sure payments are sufficient, receivables are in on time, and that the information that goes with it comes in a timely manner. It is not just about managing your cash, it is about managing your information, keeping track of overdue receivables for example. Changes in technology also play a part. Most corporations now have very sophisticated back office systems, that allow treasury to be more efficient and better manage cash.