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.

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