July 2000
Awards for Excellence 2000: The end of the world as we know it
This year's awards for excellence are a final farewell to domestic banking. Definitions of domestic or foreign have acknowledged that while local banks may have the best retail and local currency wholesale operations in a country, foreign institutions, with a handful of branches, often offer the best in cross-border financing and transaction services. Consolidation will ensure this year will be the last in which this distinction has any meaning. By Simon Brady.
Awards for Excellence 2000
Local banking systems in vast swathes of the world are in foreign hands. In Latin America, HSBC and BSCH are part-way through expansions that will leave domestic players scratching for profits in a barren middle ground. In central and eastern Europe, Bank Austria Creditanstalt and Raiffesen Zentralbank have been joined by Belgian KBC and others in a battle that has left markets such as Poland and the Czech Republic without a large truly domestic player.
In the Baltics, Swedbank and SEB have annexed the best of the locals and in Asia all the major global players have snapped up distressed domestic institutions at knock-down prices. They have not finished. As Euromoney went to press, HSBC was on the verge of having purchased 75% of Bangkok Metropolitan Bank.
In an interesting development that underscores this effective foreign takeover of these banking systems, but which also raises important...
More information on awards for excellence
The rest of this article is available to subscribers only
Please Subscribe below.
Already a subscriber? Log in here.
Subscribe online today
- Euromoney magazine in print
- Unlimited access to Euromoney.com
- Over a decade of archived content
- All the latest industry news, analysis and commentary
- Access to all our survey and award results
- More than 30 specialist supplements a year
- Personalised email news feeds
Subscribe
Questions about your subscription status?
Email us or call: +44 (0) 20 7779 8888
