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Headline: Regional awards – Africa Source: Euromoney Date: July 2001 Author: Simon Brady Best bank: Citibank Honourable mention: HSBC Africa remains the most difficult and least transparent regional market covered by Euromoney. Although banking operations in the region can be extremely profitable in terms of margin, in absolute terms these profits are tiny in comparison with those made elsewhere. In 2000 for example Standard Chartered made £70 million in Africa – compared with £50 million in the UAE alone. The risks remain high. |
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