Best bank for SMEs: Raiffeisen Bank
Raiffeisen Bank has been named the best bank for small and medium-sized enterprises in Albania. It has improved efficiency for SME clients and has also grown market share and performed strongly. It achieved 10% growth in SME clients last year, a period in which it increased assets assets by 30%.
The lender has shown the way for banking technology in the country through the digitalization of its lending services. During the awards period it achieved a market first by offering a fully digital business loan-application and automatic approval process. This initiative led to a 25% increase in digitally approved unsecured facilities in just one month. It reached another milestone when it introduced the first unsecured digital overdraft in the micro-segment.
Recognising the importance of sustainability, the bank also initiated environmental, social and governance-compliant loans for SME customers in 2022, aligning its services with its sustainable goals.
Best bank for CSR: HSBC
HSBC is Armenia’s best bank for corporate social responsibility after launching impactful initiatives to support education and employment.
One of the most notable initiatives was its partnership with the Children of Armenia Fund – COAF alumni startup programme – which supports young people starting their own business.
During the programme, 150 students gained skills to pitch to potential investors. Some 30 participants had the chance to validate their ideas, while three best received a total of $15,000 reward.
Six winning teams developed a product and worked with businesses and potential investors on product development, eventually introducing their product to the market.
The bank also trained 42 beneficiaries in computer engineering, programming languages, social-media marketing and graphic design to address the lack of suitably qualified labour force in the country. At least half the participants secured employment with tech companies thanks to a collaboration with the bank’s charity partner Gyumri Information Technologies Center.
The bank has also offered assistance to immigrants and fighters displaced by the Nagorno-Karabakh conflict – including life skills, employability and entrepreneurship training – together with the SOS Children’s Villages Armenian Charity Foundation.
Best bank for D&I: HSBC
HSBC is Armenia’s best bank for diversity and inclusion. It has demonstrated its commitment to embed D&I into its core values by becoming a signatory to the United Nations Women’s Empowerment Principles, which provide a framework for companies to follow within both the workplace and the community.
Adaptable work arrangements have been introduced through the bank’s flexible-working policies and employment contracts, featuring options such as part-time hours and phased retirement. These changes have enabled employees to have greater control over their work schedules.
Employee resource groups have also been established for volunteering events. Notable examples include an annual toy drive event inviting employees to donate toys, which has benefitted 300 underprivileged children from Tavush region.
The bank also participated in a waste segregation event that resulted in the collection of 250kg glass and 1,551 plastic bottles.
HSBC also held an alternative transportation day to promote cycling and electric scooter riding with training exercises and a competition.
The bank has introduced its ‘Taste of top’ project that seeks to empower female employees who exhibit strong performance and have an interest in assuming senior positions.
The initiative involved a two-week programme that gave participants the opportunity to shadow the chief executive. The bank plans to extend this programme to cover other senior roles.
Best bank for digital solutions: Ameriabank
Ameriabank is Armenia’s best bank for digital solutions this year. It has demonstrated a commitment to digital innovation and transformative technology that exceeds its peers.
The bank recorded a 48% year-on-year increase in its internet and mobile banking user base last year, with active users growing by 94% across all channels. It also recorded around 7.7 million electronic transactions on its channels, the highest in the market.
Its penetration rate for online banking reached 62% – a seven percentage-point increase over 2021. Its digital customer experience index and net promoter score performance were 9.5 out of 10 and 75.76% respectively.
The bank has launched registration and onboarding services for business customers, made available via a single channel, with mobile onboarding introduced exclusively for small and medium-sized enterprise customers.
Ameriabank has also introduced Automarket, a market-first service that enables customers to apply for car loans remotely.
The bank’s payment terminal business, which saw a 50% growth in transactions during the research period, was enhanced with a mobile phone point of sale app that allows merchants to use a smartphone as a PoS terminal and accept non-cash payments.
Ameriabank was also first on the market to fully digitize mortgage loans. The platform includes such features as property selection and comparison with content sourced directly from property development companies.
Best bank for ESG: Ardshinbank
Ardshinbank is Armenia’s best bank for environmental, social and governance after demonstrating a commitment to sustainability with its carbon footprint-minimization strategies and green financing work.
It has prioritised cutting the carbon footprint in its own operations. This has involved a project to install solar panels on the rooftops of its branch network, which are expected to be deployed in 20 out of the 64 branches across the country.
The bank has also participated in a project carried out by the environmental organization My Forest Armenia near the village of Jrashen, contributing to the planting of 160,000 trees on a 50-hectare area that will create a new forest in the western part of the country.
One of the first banks in Armenia to finance the construction of solar power plants, the bank has invested $26 million in such projects in 2022. The bank notably financed Armenia’s largest solar power plant, which is expected to provide 200 megawatt hours of energy in the province of Aragatsotn.
Best bank for corporates: Ardshinbank
Ardshinbank is Armenia’s best corporate bank this year, reporting impressive financials and making good progress in sustainable financing.
The bank achieved growth in several areas. Return on equity was up 46.5% to 62.2%, while return on assets was up by 3.4% to 4.8%. Net income from treasury activities grew more than 600% during the period under review.
The bank invested in its corporate internet-banking platform, introducing improvements in design, navigation and overall user-friendliness. It also integrated lending and underwriting modules into its corporate channels, automating processes and minimising manual data entry to speed up final loan approvals.
The bank was also active in lending to alternative energy sources. It was one of the first banks to finance the construction of solar power plants in the country; it invested $26 million in projects in 2022 alone.
Over the past three years, Ardshinbank has invested around $40 million in alternative energy, financing the construction of 14 power plants.
In its most important deal in the sector, the bank financed 87% of the cost of a solar power plant in the Aragatsotn province – the largest in the country to date. This cutting-edge facility is equipped with artificial intelligence technology, enabling intelligent power generation, and is projected to deliver 200 megawatt hours within the Aragatsotn province.
Best bank for digital solutions: UniCredit
UniCredit has launched several new products and services through its mobile application in Austria, driving an increase in active users by 28% over the last year.
Its top-rated MobileBanking app has been expanded to support a full range of transactions, from consumer loans to savings accounts to securities transactions. Customers can sign contracts virtually. Biometric login functionality, photo transfers with data recognition software and other customer-friendly features mean that the app has high ratings and many positive reviews from customers.
The app incorporates access to live webinars, where customers can ask questions in real time as well as watch recorded versions later.
In addition to the expansion of the app, UniCredit offers 24You online banking, which includes features such as chat and callback, and a digital personal finance manager that provides a daily breakdown of all accounts with simple graphics and summaries.
Best bank for ESG: UniCredit
UniCredit is the best bank for environmental, social and governance in Austria, having issued its first green bond during the awards period. It also acted as adviser on the first green bond issued by the Republic of Austria, a €4 billion deal.
The bank also signed a climate action facility loan and has committed to increase its sustainable financing during 2024.
It placed a €500 million six-year green covered bond – the first under its own sustainability bond framework – in 2022. The order book was oversubscribed, to reach €1.3 billion, indicating healthy demand for future issuance.
UniCredit was also the first bank in Austria to sign a climate action facility loan directed at supporting investment in renewable energy and energy efficiency. The loan of €92 million is in conjunction with the European Investment Bank to support a project portfolio of up to €200 million.
The bank also offers innovative GoGreen consumer banking accounts, where for every euro deposited, the bank provides an equivalent amount of financing for sustainable projects covering homes, hydro- and wind power.
Best bank for digital solutions: Raiffeisen Bank
Raiffeisen Bank wins best bank for digital solutions in Bosnia & Herzegovina for introducing new features that have improved the user experience and enhanced security.
In the last quarter of 2022, the bank successfully implemented the digital origination of microloans for the first time. At the same time, it launched its OneContact CC multimedia contact centre, which provides customers with access to services and solutions online through voice, video, email and instant messaging.
The lender has also demonstrated a firm commitment to cybersecurity by implementing the privileged access management (PAM) system. This detects and halts infiltration of the bank’s key resources and protects against an array of cyber threats.
The bank’s enhancements seem to have borne fruit. Its app became the highest user-rated technology of its kind in the country on multiple stores in 2022. Additionally, more than 90% of its transactions were conducted through e-banking.
Best bank for digital solutions: UniCredit Bulbank
UniCredit Bulbank is the best bank for digital solutions in Bulgaria in recognition of increased activity on its digital platforms and several new technological enhancements.
Digitally active users grew to 640,000 in 2022, which represents the highest digital penetration on the market, with some 66% of users active on its platforms. The bank became the first in the market to pass one million downloads on Google Play, while 130 million logins were also registered in 2022 – 30% higher than the previous year.
These numbers have been helped by several enhancements to the bank’s mobile app. These include, most notably, the introduction of a simplified end-to-end process for new retail banking clients. They can choose an account digitally, submit relevant documents via the app and receive a quick approval with a newly issued debit card added to the app.
Other changes include the launch of a streamlined application process for consumer loans, as well as the opportunity for customers to submit their credentials electronically.
Increased activity in digital payments was also observed, with digital card use on Apple Pay growing by over 105% year on year. The improvement of existing payment options contributed to 60% annual growth in mobile payments.
Trade finance was another area with high digital penetration – 75% of all such operations were conducted online in 2022. Enhancements, such as a consultation module embedded on the platform, helped the bank move closer to its 82% by 2025 target.
Best bank for ESG: United Bank of Bulgaria (UBB)
United Bank of Bulgaria (UBB) took important steps towards meeting its 2025 sustainability targets during the awards period and launched impactful green products and initiatives. It is Bulgaria’s best bank for environmental, social and governance this year.
The bank’s sustainable finance lending activity grew by nearly 5%, and the share of its portfolio dedicated to green financing increased to 11%. It reduced emissions by 81% compared with the base year of 2015.
The bank has also bolstered its sustainable portfolio with several new products. Most notably it launched its agricultural carbon-emission calculator, a market-first tool that helps agricultural producers make informed decisions about sustainable business practices and investments. The free calculator allows users to evaluate the carbon footprint of their farms and receive suggestions on steps they can take to reduce CO2 emissions.
UBB has also partnered with Sofia University on sustainability. As part of this collaboration, a wide range of initiatives have been introduced, including recycling actions and an initiative to plant 8,700 trees in Bulgaria.
The partnership also facilitates sustainable finance training for bank staff and, according to a recently conducted survey, contributed to 90% of staff being familiar with the bank’s sustainable finance objectives.
Best bank for corporates: UniCredit Bulbank
UniCredit Bulbank is Bulgaria’s best bank for corporates. It has maintained its historically high market share in the large corporates segment, showed best-in-class customer satisfaction, innovated in transaction banking and advised on large deals.
During the awards period, 75% of corporates in Bulgaria with a turnover over Lev100 million ($54 million) were advised by the bank, which represents 70% of the top 100 Bulgarian companies and 72% of large internationals operating in the country.
The bank scores highly for customer satisfaction. Its NPS score for corporate banking at the end of 2022 was 31 points – 17 points above the industry average.
The bank maintains high digital penetration in trade finance (75% of all trade-finance operations were conducted online) thanks to innovations such as its consultation module, which facilitates seamless interaction with trade- finance professionals electronically.
It has also launched UCTrader – a service powered by advanced data analytics that offers benchmarking information on FX spots, forwards and swaps.
Recent deals include extending an up to €50 million revolving credit facility to Sofia Med, one of the largest non-ferrous metallurgical companies in Europe. The bank has also secured €60 million from European Investment Bank to support Bulgarian businesses suffering from consequences of the pandemic.
Best bank for CSR: Privredna banka Zagreb
Privredna banka Zagreb (PBZ) has shown a continuous commitment to facilitating positive change in Croatian society.
The bank’s dedication to humanitarian efforts was demonstrated by its donation of over €36,000 for earthquake relief in Turkey and Syria. It has also donated €102,000 to the World Wide Fund for Nature.
Some 48% of the bank’s charitable donations were allocated to social causes, 31% were allocated to health-related initiatives and 21% to cultural and educational endeavours.
It actively encourages volunteering among its employees, with over 200 staff participating in various initiatives.
The bank has also launched its ‘Doing good every day’ programme, which allows individual customers to donate to NGOs and causes of their choice.
PBZ has conducted over 2,080 workshops for more than 1,100 students across Croatia to improve financial literacy among its young population.
Best bank for digital solutions: OTP Bank
OTP Banka has been named the best bank for digital solutions in Croatia this year. It has focused on enhancing its digital banking proposition while maintaining a strong focus on cybersecurity.
The bank has expanded and optimized digital interactions across the board. It is the first bank in Croatia to implement digital signatures for employment contracts, which increases transparency, security and accessibility while reducing processing time and cost.
The bank has also introduced a know-your-customer document delivery system, which allows clients to submit all relevant documentation online.
Digital services on mobile and online platforms have been completely redesigned and upgraded in tandem with a new distribution model in branch offices that promotes the execution of simple transactions through digital channels.
OTP has established robust procedures to deal with different types of malicious cyberattacks. It has also accommodated hybrid work arrangements and ensured a secure environment for this, holding training and education programmes regularly to keep employees informed about current cyber threats.
Best bank for ESG: OTP Bank
OTP Banka made impactful changes to its environmental, social and governance structure last year, achieving a reduction in emissions in 2022.
The bank has made substantial advances in its sustainable development framework. It has worked on establishing a robust infrastructure to manage and coordinate ESG factors across all areas of the bank. This integrated strategy will shape the bank’s future actions.
The bank has instituted a sustainable development committee chaired by the president of the board. The committee’s primary responsibility is to oversee and coordinate the approach to sustainability across the entire organization.
A dedicated sustainable development department has also been set up to focus on developing the ESG strategy, ensuring that sustainability goals are met.
This year, OTP undertook a comprehensive project to recognize environmental risks, assess climate and environmental factors, and integrate ESG risks into all risk-management processes and policies.
It has also started assessing environmentally friendly investments, a crucial step towards aligning its financial activities with sustainability goals. A fully developed set of sustainable finance rules and criteria is expected in the second half of 2023.
The bank successfully reduced its emissions by 15% in 2022, a big step on its path to net zero.
Best bank for SMEs: Zagrebačka banka
Zagrebačka banka has established several new services tailored to small and medium-sized enterprises in Croatia and has forged new partnerships with parallel institutions.
The bank boosted both long-term lending to SMEs last year and grew its transaction banking business in the sector, maintaining its position as a leading transaction services provider to SMEs in the country.
It has enhanced its cash-management, trade-finance, custody and depositary services to align key transactions and payment infrastructure with the introduction of the euro in 2023.
The bank has played an important role in promoting energy-efficiency products and collaborating with municipalities to provide subsidies to clients.
It has supported over 470 companies with more than 500 EU-subsidized loans. It also successfully used the EIF guarantee scheme, paving the way for further partnerships with supranational and development banks.
The bank already participates in joint programmes with domestic development institutions such as the Croatian Bank for Reconstruction and Development and the Croatian Agency for SMEs, Innovations and Investments.
Best bank for corporates: Zagrebačka banka
Zagrebačka banka has maintained its leading position in corporate lending in Croatia, with a market share of 24.88%. It dominates syndicated loan, project finance and acquisition finance activity in the country.
Headline deals during the awards period included a €1 billion syndicated financing package for Croatia’s power company HEP, a syndicated revolving credit for the Croatian oil company INA and a €232 million syndicated project financing for the refinancing of an operational wind farm in Serbia.
The year was marked by a focus on launching energy efficiency products, cooperating with municipalities and successfully using the European Investment Fund guarantee scheme.
The bank supported over 470 companies through more than 500 facilities during the awards period.
Zagrebačka adjusted key transaction banking and payments infrastructure in advance of the adoption of the euro in the country in January 2023. It has also enhanced its client risk-management and treasury departments across several segments.
The introduction of commodity hedging has enabled the bank to offer effective risk management in its strategically important commodity business.
Best bank for digital solutions: Raiffeisen Bank
Raiffeisen Bank is the best bank for digital solutions in the Czech Republic this year.
The bank introduced a new mobile app that combines the best features of the existing Raiffeisenbank app with those of the app of the newly acquired commercial bank Equa bank. It also introduced Raiffeisen Investice, a new investing app, as well as an updated version of its mobile wallet, RaiPay.
By the end of autumn 2022, the bank had completed the integration of Equa, with all new and existing customers switched to the new app. The bank incorporated the Minute Loan product, which was previously launched by Equa, expanding its capability to all bank customers.
It also launched clearer and more user-friendly categorizations of transactions on its website and its app.
The success of these new initiatives is evidenced in their adoption – the bank reached a million clients, including over 800,000 active mobile banking users.
The bank developed front-end solutions for trade finance clients in 2022. Over 70% of new applications for bank guarantees were processed completely through its digital channel.
Best bank for ESG: UniCredit Bank
UniCredit Bank is named the best bank for environmental, social and governance in the Czech Republic this year. It has increased long-term green lending, reacted quickly to the invasion of Ukraine with support to refugees, and expanded its ESG-related financing as a percentage of its overall lending. The bank has also unveiled a strategy to entirely phase out coal by 2028.
In 2022, long-term green loans accounted for 20% of the bank’s lending portfolio. It provided corporate ESG loans totaling €443 million (over Kc11 billion).
The bank has provided Ukrainian refugees with local accounts, supporting them with access to finance and resources.
The bank has committed to further increase its ESG financing in 2024, to €150 billion, including €10 billion in social funding across the Czech and Slovak republics.
In 2022, the bank achieved a 14% reduction in its greenhouse-gas emissions compared with 2021, while 87% of electricity use on its premises is derived from renewable sources. The bank also achieved its goal of being plastic-free in all its buildings in 2022.
Best bank for CSR: Bank of Georgia
Georgia’s second largest lender, Bank of Georgia, has been one of the most active in corporate social responsibility in the country. It has launched 100 projects over the last three years, with an annual reach of over 100,000 beneficiaries. During the review period, it stood out for its work to support education and financial inclusion.
The bank has actively supported education, such as helping build multifunctional spaces in schools in underprivileged communities. It has also launched a scholarship programme for future leaders in 12 universities in Georgia and partnered with the top mathematics and physics schools in the country to provide online science, technology, engineering and maths education to students.
Given limited access to financial resources among female business owners, BoG has also made empowering women entrepreneurs one of its key objectives.
It has launched specific business courses and training programmes and supported over 150 female-led businesses to digitalize their operations in 2022.
To make its business more accessible, the bank has invested in physical branches and ATMs in a number of remote areas. In parallel, it has trained people to use internet banking in regions without bricks-and-mortar branches.
Additionally, the bank has introduced a volunteering programme to encourage employees to give back to the community. The programme’s goal is to commit 200 hours per quarter to this and to steadily boost participation as it evolves.
Best bank for digital solutions: Bank of Georgia
Bank of Georgia has been named the best bank for digital solutions in Georgia this year after the launch of several impactful products and services.
The bank performed strongly in mobile banking, registering over one million monthly and more than half a million daily active users. Its app received a high rating on both Google Play and the Apple Store – of 4.7 and 4.8 respectively. The bank is now focused on developing a financial super app that offers services such as banking, brokerage, and an insurance marketplace both from the bank and from partner businesses.
Additionally, the bank’s sCoolApp, the first app for school students in Georgia, was launched in 2022. It offers functionalities such as requesting pocket money from parents, transferring and depositing money, mobile balance increase, and secure transactions with trusted contacts. The app registered 33,167 monthly active users as of December 31, 2022.
For corporates, the lender launched its Payments Manager platform that enables firms to handle payments and integrate digital payment tools into their online stores without developer assistance.
During the review period, the bank also launched an AI-based virtual assistant with enhanced functionality. The tool can conduct over 20 tasks, including exporting account statements, checking balances and blocking and unblocking cards.
Best bank for corporates: TBC Bank
Despite volatility in the Georgian economy stemming from the war in nearby Ukraine, TBC Bank has maintained its strong market share in corporate banking this year and has also made critical enhancements to its foreign-exchange offering.
The bank has more than 5,000 corporate clients and has extended loans amounting to GeL5,930 million ($2,207 million). It has a dominant market share in key categories: 48% in trade finance, 68% in factoring, 42.9% in deposits, 40% of FX products, and 50% in derivatives.
It introduced new digital enhancements for FX during the awards period, including a solution for all spot conversion settlements that integrates an FX window within the bank’s internet platform. This has reduced the average settlement time for spot conversions from 40 minutes to eight.
In the first quarter of 2023, TBC launched electronic signatures on all deposit agreements, the first Georgian bank to do so.
It has also introduced new transaction structures in response to the war in Ukraine. One such example covered the replacement of streetlights in the city of Batumi. The deal used an alternative payment structure to accommodate the urgent needs of the exporter, as well as a quarterly payment schedule.
Best bank for D&I: CIB Bank
Domestic lender CIB Bank has been named the best bank for diversity and inclusion in Hungary in recognition of its efforts to support the wellbeing and development of its workforce.
As part of its internal Womentoring programme, designed to support women’s career development, the bank organised a special day at its premises to help mothers prepare for their return and reintegration into the bank. As well as providing them with up-to-date information, it featured an internal job fair and provided access to a psychologist.
Wellbeing weeks have also been introduced, featuring lectures, excursions, quizzes and creative holidays. As part of this initiative, the bank introduced the DokiApp online service for all the bank’s employees, offering specialist medical advice, dietetic and psychological support.
CIB Bank has also launched several initiatives in the learning space. Its new Master in Branch Management programme offers a plethora of specialist learning opportunities and recorded a high participation rate among its branch management staff. The bank also launched an ‘It’s cool to learn!’ campaign to popularise its learning tools among employees.
The bank has also provided direct financial support to help employees deal with inflation, including two salary increases and two one-off benefits.
Best bank for digital solutions: OTP Bank
OTP Bank is Hungary’s best bank for digital solutions, following a period of strong digital adoption. Besides launching innovative new products, it has also made strides in transforming customer support with AI and automation.
In a move to grow market share in the housing sector, the bank launched its housing ecosystem platform OTP Otthon, which allows users to post ads for free and provides a range of supporting online content to educate them. Other supplementary features include eligibility checkers for loans and state grants, preliminary estimates of monthly repayments and an option to request a call back from the bank to discuss financing options.
The bank has partially replaced its time-consuming identity document-scanning method with a new customer identification service that uses near field communication, optical character recognition and machine-readable zone technologies to increase speed in branches. With 56,000 items scanned so far, the bank has reduced average customer identification and in-branch document scanning by three minutes.
The bank’s new recommendation engine is another milestone on its digital transformation. The engine uses machine-learning algorithms, developed by the bank’s inhouse data team, to offer personalized customer experiences by displaying relevant content. The engine is an important pillar of the bank’s strategy to improve conversion rates and customer experience.
Best bank for ESG: K&H Bank
KBC-owned Hungarian lender K&H Bank wins the environmental, social and governance category in Hungary this year. In addition to introducing environmental targets, the bank has also launched impactful sustainable products and initiatives.
K&H was the first bank in Hungary to set climate targets. These include ambitious goals to reduce its electricity and energy usage and boost the share of its renewable energy use by 2030. The bank has made progress in boosting its renewable energy usage, now generating 125,996 kWh of electricity from solar panels, which represents a 19% increase year on year.
Several market-first ESG products were launched during the awards period. The K&H green home loan, for example, helps customers improve the energy rating of new and used properties. The bank was also the first in Hungary to introduce green leasing for fully electric vehicles.
K&H’s month of sustainability was arguably the bank’s most visible initiative in the space this year. It incorporated a dedicated TEDx event and saw the bank plant 555 trees and 1,110 shrubs in 100 school yards around Hungary. Its business banking division has also organised 60 ESG-themed discussions at large corporates, improving client engagement on key environmental topics.
Best bank for corporates: OTP Bank
OTP Bank recorded impressive growth in lending volumes during the awards period and has also advised on some landmark financings.
The bank’s overall corporate financing activity grew by 33% year on year in 2022. In project finance, it recorded 50% growth in financing to large-scale projects in the energy, utility, residential, solar and battery facility sectors. Specialised lending to corporate clients grew by 20%.
OTP Bank has been actively involved in syndicated market co-financing and has also participated in large balance-sheet financings. It was involved in the €1.2 billion syndicated loan facility for Hungarian multinational oil and gas utility MOL Group and a €300 million syndicated term loan facility for Magyar Telekom, the largest Hungarian telecoms company.
The implementation of a mobile-first strategy has been a key element in the bank’s growth in business banking. It has developed digital sales programmes for its products and invested in the digitalization of administrative tasks, which has improved efficiency in its corporate banking channels.
Best bank for digital solutions: Raiffeisen Bank
Raiffeisen Bank made some good improvements to its digital banking services throughout 2022 and wins best bank for digital solutions in Kosovo this year as a result.
The personal loan application and approval process was simplified on its digital platform RaiKesh. Launched in 2022, the platform allows customers to apply for loans and receive decisions within minutes.
In August, the RaiPOS app was launched to enable contactless payments through users’ smartphones.
RaiPay, is the bank’s digital wallet for Visa and MasterCard. In 2022, new features were added, including: card details display, PIN access, card blocking/unblocking, and token management for active subscriptions.
The bank also improved remote account accessibility by introducing RaiConnect, which enables remote access to branch services.
Best bank for ESG: Raiffeisen Bank
Raiffeisen Bank launched several impactful environmental, social and governance initiatives during the awards period. It ended 2022 with a green and social lending portfolio amounting to €14 million, primarily within the corporate sector.
The bank conducted a materiality assessment in Kosovo during the first quarter of 2022. This evaluated the feedback of employees, customers and members of the community to understand their most important sustainability issues and to establish strategic priorities in response.
Over the year, the bank has also made notable progress in aligning its loan portfolio with ESG criteria. It has exceeded its targets, with a 3% increase in ESG-focused loans for businesses (compared with a 0.5% target) and a 1.4% increase for individual customers pursuing green objectives (compared with a 0.5% target).
To improve its own carbon footprint, the lender has installed solar panels on its buildings, generating a total of 33 megawatt hours of energy by October 2022, mitigating 32.23 tons of carbon emissions.
Best bank for corporates: Raiffeisen Bank
Raiffeisen Bank’s digital transformation, together with its strong sustainable lending business, make it the best bank for corporates in Kosovo this year.
Its online lending platform for corporate clients, eFinance, has been improved, removing most manual processes.
Furthermore, the roll-out of digital cash-collection services has provided corporate customers with better cash-management solutions. This helps those with multiple cash-generating operations, allowing cash pooling and transaction processing together.
Mobile banking platform Raiffeisen Plus has also undergone several enhancements to better serve corporate clients. The app underwent substantial upgrades in 2022, including the addition of 24/7 banking services, automated salary processing, Swift confirmation, and an online know-your-customer review process.
The Future CMI@web app was one pioneering launch this year. It simplifies payment initiation for customers through a single sign-on interface.
Best bank for CSR: Maib Bank
Maib Bank is Moldova’s best bank for corporate social responsibility this year, thanks to its wide range of initiatives aimed at children, young people and refugees, along with its substantial philanthropic spending.
Multiple community support initiatives were launched in 2022. These covered diverse activities, such as providing education on responsible money management and interactive in-branch lessons on financial concepts for children and young adults.
Additionally, the bank sponsored Moldova’s participation in Eurovision 2022, supporting the country’s representation on the international stage. It has also planted 2,000 maple and acacia saplings to raise environmental awareness in the country.
Maib has also been active in philanthropic work. In response to the Covid-19 pandemic, the bank donated MLei500,000 ($28,000) to support critical healthcare efforts. As the conflict between Russia and Ukraine continues, an estimated sum of MLei10 million has been donated to support Ukrainian refuges in Moldova.
The bank also formed a partnership with the UN Refugee Agency to issue and distribute bank cards to refugees. This initiative helps refugees to manage their finances effectively, providing them with access to a range of financial products and the necessary funds to cover daily expenses.
The retention and development of employees is also one of the bank’s key focus areas. Some 60 of its top and middle managers were enrolled in the Stanford Business School executive programme during the review period, demonstrating a commitment to fostering culture and innovation among staff.
The bank also set up Maib Academy, an e-learning portal that offers a range of courses to employees. It has also upgraded its career-management process to enable employees to set goals, evaluate themselves, and receive feedback, appraisals and rewards for performance.
Best bank for SMEs: Maib Bank
Maib Bank has demonstrated a period of solid financial performance, during which it has launched new specialised services for small and medium-sized enterprises and assisted these clients in their energy transition.
The bank’s SME loan portfolio grew by 46% last year, increasing to MLei5,455 million ($301 million). Its SME loan market share has grown 5% to 31.4%. Deposits saw strong growth compared with 2021, reaching MLei6,379 million by the end of 2022.
There has been an improvement in the speed of customer lending decisions: the timeframe has been reduced from two to three weeks to just three days for 86% of SME customers and one day for 89% of micro customers. Meanwhile, 3,175 point of sale and e-commerce payment solutions have been installed (up 43% on 2021) and 4,843 business cards issued (up 28% on 2021).
SME clients have subscribed to 6,781 banking packages, 14 times more than in 2021. This reflects the bank’s customized approach, which offers current accounts, business cards and online banking in one pack.
The bank has also focused on supporting the renewable energy ambitions of SME clients. Discounted rates and special conditions are available for investment in renewable energy. MLei215 million has been provided through 84 renewable energy loans. The bank itself received a loan worth €15 million to extend its participation in the EU4Business-EBRD Credit Line for financing SMEs.
Best bank for CSR: NLB Banka
NLB Banka wins best bank for corporate social responsibility in Montenegro thanks to its impactful initiatives and contributions to charitable causes this year.
Children’s health was a big theme in the bank’s CSR programmes. It raised funds to improve the prenatal children’s care unit at the Institute for Children’s Diseases as a member of Unicef’s Business Council on Child Rights, which donated €92,000.
The bank has also demonstrated its dedication to sustainability by contributing to the funding of a regional competition where three of 300 sustainable projects and ideas supporting the development of innovative concepts could win €100,000.
One of the three winners was Montex Elektronika, a Montenegrin company whose project, Mokos, involves establishing a monitoring system and software for early fire detection and notification to public services in response to the recent forest fires in Europe.
The bank’s other environmental conservation efforts included the donation of over 300 seedlings for park forests.
NLB became the first commercial bank in Montenegro to participate in the European Bank for Reconstruction and Development’s Women in Business support programme. The bank is committed to empowering female entrepreneurs by providing access to financing and essential knowledge for business growth.
The bank has also donated €50,000 to organizations such as Fenix Montenegro, the association of parents of children suffering from cancer; the National Kitchen food charity; and the Center for Autism, Developmental Disorders and Child Psychiatry.
Best bank for digital solutions: Crnogorska komercijalna banka
Crnogorska Komercijalna Banka (CKB) is recognised as the best for digital solutions in Montenegro for the great progress it has made in digitalizing its services and transforming the banking experience in the country.
One standout achievement was its introduction of mobile point of sale app CKB GO POS – the first institution in Montenegro to introduce the tap-to-phone technology.
The bank’s introduction of its CKB GO e-banking service, QR code payments and the integration of 3D Secure protocols have all greatly improved customer interactions. These digital enhancements have increased efficiency and enhanced security for the bank.
CKB’s launch of an online lending service was also an important development in 2022. The service offers a user-friendly platform for loan applications, which both reduces the need for multiple branch visits and improves pricing.
Best bank for ESG: NLB Banka
NLB Banka wins best bank for environmental, social and governance in Montenegro in recognition of its promotion of sustainability and responsible banking.
Its commitment to sustainability in 2022 was demonstrated through its regional project #FrameOfHelp, which offers entrepreneurs working on sustainable projects the opportunity to secure €100,000 from the bank. It also offers them eight hours of free professional advice on the successful introduction of sustainable business from Deloitte.
Montex Elektronika, a provider of digital systems, was the domestic winner of this prize.
In 2022, Sustainalytics awarded NLB an ESG risk score of 17.7, reflecting the bank’s low material risk of financial impact related to ESG factors, thanks to mid-level exposures to and robust management of key ESG issues. The rating places NLB among the top 15% of banks globally.
The bank has also taken steps towards integrating sustainability into its business operations by joining the UN’s Net Zero Banking Alliance.
Best bank for digital solutions: Bank Millennium
Bank Millennium has made notable efforts to address the evolving needs of customers and to advance its digital offering during the review period.
Its mobile app has gained traction, registering over 2.6 million active users at the end of the first quarter of 2023. It is rated 4.8 on both Google Play and Apple’s App Store.
It also expanded its presence in e-commerce. In 2022, a cashback service, with more than 800 participating e-commerce merchants, was offered through a shopping platform provided by Millennium Goodie (the bank’s promotions portal). The bank introduced in-app purchases for services such as transportation and cinema tickets.
To encourage customers to get online, Millennium has introduced a special rate for savers who are active online customers. It has also launched an exclusive online-only term deposit.
As a result, digital channels accounted for 96% of the bank’s term-deposit sales in the first quarter of 2023.
Best bank for ESG: BNP Paribas
It is no surprise that BNP Paribas Bank Polska has been named best bank for environmental, social and governance in Poland this year, given its dominant performance in the sector and internal sustainability training initiatives.
The bank is a big player in sustainable finance, providing a variety of green finance products such as ecological and sustainability-linked loans. In December 2022, it introduced ESG rating-linked loans, launched in partnership with the sustainable ratings agency EcoVadis. It is the first bank in Poland to embark on a strategic cooperation with a ratings agency to encourage the adoption of ESG ratings among customers.
Among its headline sustainability-linked deals was the issue of sustainability-linked bonds by Cyfrowy Polsat, the largest Zloty issue of corporate bonds in the history of the Polish market and the first SLB issue fully compliant with International Capital Market Association standards. Other key transactions include green loans to Wirtualna Polska, Velvet Care and paint firm Śnieżka.
BNPPP participated in nearly 41% of all sustainable loan transactions on the Polish market last year.
The bank has also implemented its ESG academy, a seven-month educational programme designed for sustainability officers. Webinars and training sessions were also prepared for other staff to improve their technical knowledge on key concepts in energy efficiency such as insulation and solar-power installations.
Best bank for SMEs: Santander
Santander Bank Polska is Poland’s best bank for small and medium-sized enterprises thanks to the specialized products it offers to the sector and its emphasis on sustainability.
The bank successfully onboarded 62,520 SME clients last year, bringing the total to 494,943 as of January 2023. SME deposits reached a value of Zl480 million ($114 million).
During 2022, the bank introduced several tailored loan products, most notably a business express loan, a fixed-rate single loan agreement that is also a market first for the Polish SME sector.
The bank rolled out offers for SMEs across both digital platforms and physical branches.
To encourage online adoption, it levies no fee for digital banking, but a fee of 0.5% has been introduced in branches and contact centres. The offer had a tangible impact – average monthly sales on digital channels increased to Zl7.12 million from Zl2.2 million in October 2022 and the share of loans sold online increased to 14%.
The bank has also participated in the My electric car programme, which is subsidised by the Polish government. The aim is to boost leasing of zero-emission electric vehicles. The scheme targets entrepreneurs, cooperatives and individual farmers. The bank wrote 416 financing agreements for electric cars last year for a total of Zl89 million.
Best bank for corporates: BNP Paribas
BNP Paribas Bank Polska has enjoyed a period of strong financial performance, encompassing conventional and sustainability-linked transactions together with digital enhancements, through the review period.
The bank grew income by 42% and gross profit by 65% in Poland – also reporting 15.8% growth in its net loan portfolio and a healthy 33.8% increase in deposits. This reflected a rebound in activity following Covid-19, as well rate rises.
The bank advised on a number of headline deals, including a €690 million financing for the development of an internet fibre-optic network for 1.7 million households in Poland.
The bank also reflected the BNPP parent group’s strong commitment to sustainable finance, achieving a 7.1% share of the overall credit portfolio by year end.
In 2022, it provided Zl2.7 billion ($642 million) of sustainable finance, nearly 41% of the market in Poland. Among others, BNPPP provided sustainability-linked corporate loans to Wirtualna Polska, Velvet Care and paint company Śnieżka.
The bank has also introduced digital enhancements such as remote onboarding and an identity broker for clients. It actively engaged corporate clients during the review period through webinars, conferences and meetings, sharing insights on various topics.
Best bank for CSR: OTP Bank
OTP Bank has demonstrated a dedication to education transformation in Romania and is the country’s best bank for corporate social responsibility this year.
The bank’s foundation is the cornerstone of its CSR work. In 2022, it focused on its mission to provide financial education, leading to more than 500 individuals taking various financial fitness sessions. These included both employees of the bank and existing customers.
In partnership with the local government in the city of Miercurea Ciuc, the foundation also established a financial education, career counselling and competences development centre that provided 180 gymnasium and high-school students with financial education lessons.
The foundation also piloted its first vocational counselling programme aimed at high-school students. Called startAware, it was fully developed inhouse. The longstanding collaboration with FSLI (the federation of education unions) was extended into 2022 with a new personal and organizational financial management initiative. This should be implemented nationwide in 2023.
The bank’s Manager in action career-training project continued throughout 2022, with over 200 students taking part in an internship programme designed to enhance entrepreneurial skills.
In December 2022, the foundation initiated an Erasmus exchange project named Vision that will develop specific tools for visual facilitation skills. It will be featured in national training sessions in Romania and Italy attended by teachers from both countries.
Best bank for SMEs: Raiffeisen Bank
Raiffeisen Bank has supported small and medium-sized enterprises in Romania through tailored financing and digital products, along with sustainable finance solutions. It is the country’s best bank for SMEs this year.
Raiffeisen grew its SME loan portfolio by 17% year on year in 2022. Through the government guarantee programme SME Invest, a total of 2,333 loans were approved for over 2,000 customers, with a total value of €592 million.
The bank has 116,000 SME customers. In addition to SME Invest it extends credit through existing European Investment Fund programmes, including the Cosme loan guarantee facility and the European Commission’s EaSI programme for employment and social innovation support.
It has enhanced its fully digital SME lending platform by introducing automated workflows, from sending customers offers to loan disbursement, reducing the time frame to just a few minutes for most transactions.
Raiffeisen’s dedication to sustainability has seen it launch two lending products tailored to SME businesses, both with a sustainability focus: the Bio Working Capital Loan for agriculture and the ESG Investment Loan, which is focused on solar-power installations.
Best bank for digital solutions: Raiffeisen Bank
Raiffeisen Banka is the best bank for digital solutions in Serbia in 2022 after enhancing its digital offerings.
The bank introduced new multifunctional self-service devices in branches that can be used for up to 80% of transactions. Additionally, it continued its development of digital wallets for mobile payments on Android and iOS devices.
It has also made improvements to RaiPay, its existing inhouse payment solution for Android mobile devices.
Raiffeisen’s iKeš (iCash) loan product responds in less than eight minutes after uploading basic information and minimal electronic documents. The whole loan approval process now takes less than 30 minutes and uses advanced analytics for alternative credit scoring. More than 32,000 iCash loans have been disbursed since launch.
The bank’s iAccount (iRačun) programme consists of free online accounts, with options for both plastic and digital debit cards. This allows customers to bank with minimal onboarding, a process that can be completed in 15 minutes.
REA, the bank’s electronic assistant, now engages in an average of 50,000 conversations a month.
Best bank for corporates: Banca Intesa
Banca Intesa Beograd had a good year in Serbia in 2022, growing its corporate loan portfolio by 17.7% year on year to reach a 15.6% share of the lending market. Its market share of corporate deposits stood at 16% in 2022.
Despite the number of new loans, the bank also achieved a record low non-performing loan ratio in the corporate segment. At the end of 2022, the bank’s NPL level was nearly 20% below the market average, and the lowest in Serbia’s banking sector.
Additionally, return on equity was 13.68% (up from 10.39% in 2021) and return on assets was 1.89% (up from 1.62% in 2021).
Best bank for digital solutions: Tatra banka
Tatra banka has made good progress in digital banking this year and is the best bank for digital solutions in Slovakia this year as a result.
It has made strides in both digital and sustainable banking. It launched a unique programme for secondary schools that leverages virtual-reality technology to engage and educate students on financial literacy.
It has also introduced the ‘My Benefit #premodruplanetu’ feature as part of the Tatra banka app. This offers customers discounts on card payments for sustainable products and services.
Tatra has also initiated full digital client onboarding, using facial biometrics.
As part of its commitment to sustainability, the bank has moved accounts from the Tatra Personal service to the Account for blue planet.
This package integrates digital solutions for everyday financial management and allows clients to track their carbon footprint within transaction details and offers tips on how to reduce their environmental impact.
Best bank for ESG: 365.bank
365.bank has been named the best bank for environmental, social and governance in Slovakia this year in recognition of its investment in green energy to reduce its carbon footprint.
It has embraced a mobile-first strategy to reduce its carbon footprint. It has also committed to environmental sustainability and is the first bank in Slovakia to introduce paperless onboarding. It has also introduced a green mortgage, offering reduced interest rates for properties with a class-A energy certificate.
The bank’s green Eko fund is made up of 20 exchange-traded stocks in sectors focused on sustainable food and clean energy production, and technological solutions to the climate crisis or waste management.
In addition to its green initiatives, 365.bank collects defunct plastic cards at its physical branches, recycling and converting them into benches.
365.bank is committed to becoming the first carbon-neutral bank in Slovakia by 2025. To this end it has participated in environmental conservation, planting over 23,000 trees in 2022, with the potential to sequester up to 464 tons of CO2 over the next five years.
Additionally, it joined the Slovak Banking Association’s ESG and sustainability commission, reinforcing its commitment to environmental and social responsibility.
Best bank for digital solutions: SKB Banka
SKB Banka is the best bank for digital solutions in Slovenia, thanks to successful digitalization efforts in corporate and retail banking and its own internal operations.
In retail, the bank has introduced mobile payment options on point-of-sale (PoS) terminals, most notably through the Flik instant payments mobile app. The bank also enhanced security on the app with such new features as digital statements, 3D Secure and card security settings.
In business banking, SKB Trader, a free online application for corporate clients was introduced, allowing real-time currency exchange monitoring.
The bank has also rolled out a loan granting tool, initially for its micro- small and medium-sized enterprise segment (sole proprietors, associations and micro-enterprises), and subsequently to SMEs.
Operational efficiency has improved as key processes have been digitalized. The bank has continued to work on its digital channels with its DC3 project, aimed at improving adaptability, security and environmental sustainability on the bank’s channels.
SKB has also brought the bank’s data network up to date and enhanced business processes.
Best corproate bank: Nova KBM
Nova KBM has been named the best bank for corporates in Slovenia following a period of strong growth in its corporate banking division and despite a challenging macroeconomic environment.
The bank also had a strong year in project finance and undertook initiatives to boost its corporate offering.
Substantial growth in the loan book was particularly driven by the energy sector. Loans to this segment constituted 61% of the bank’s total loans to the non-bank sector in 2022, amounting to €3.15 billion. Large corporate borrowers – some 1,700 clients – account for the bulk of the client base, but it also lends to approximately 6,300 small and medium-sized enterprises.
The bank dominates the Slovenian project financing market, both in terms of lending volume and profitability. It has successfully financed multiple projects with a cumulative value of more than €200 million, spanning the residential housing, commercial ventures, infrastructure, tourism and trade sectors.
The bank has partnered with Summit Leasing Slovenija and Aleja Finance, boosting volumes in businesses such as factoring. Joint sales and cross-selling initiatives took place throughout 2022.
Best bank for digital solutions: Akbank
Akbank wins the award as best bank for digital solutions in Turkey this year in recognition of its commitment to improving the customer experience.
One recent innovation was the Banking IQ project, through which the lender uses client data to provide monthly and weekly insights and recommendations on expenses, cash flow and savings. The bank delivers more 26 million personalised smart tips every month.
In a first for Turkey, the bank has also enabled account holders to use its virtual Akbank Assistant to manage their internet of things-connected devices.
Among the bank’s other recent enhancements were a digital application process for credit cards.
The bank’s digital-first approach has yielded good results. A third of new customers joined through digital onboarding in 2022, with around 30% also applying for credit cards online.
Best bank for ESG: Akbank
Akbank has made an impact through its environmental, social and governance initiatives and financing and is named the best in Turkey for this sector this year.
The lender has provided TL60 billion ($2.14 billion) to clients in sustainable loans in 2022, accounting for 75% of wholesale funding transactions and 45% of total funding.
The bank’s commitment extends to its investment offering, where it manages ESG-themed funds with total assets of TL2.7 billion that are aligned with sustainability goals for investors.
Internally, its ESG focus is also clear. In 2022, the bank sourced 80% of its electricity from renewable resources, while it used solar panels to contribute 5% of the electricity consumed at its data centre.
Additionally, it offered ESG training to all corporate and commercial branch employees and began a project to quantify the impact of climate risks on its portfolio.
Best bank for SMEs: Akbank
Akbank provides comprehensive financial solutions to the small and medium-sized enterprise sector in Turkey and is named the best bank for SMEs in the country this year.
In collaboration with Turkey’s export promotion agency, IGE, Akbank has pioneered a financing offer with an 80% IGE guarantee to SMEs involved in exporting goods and services.
Additionally, the lender’s partnership with the Credit Guarantee Fund offers support packages for SMEs covering working capital needs, support for export-focused businesses and financing for investments. By 2022, approximately TL7.4 billion ($264 million) had been lent to SMEs as part of this programme.
The bank has been a strong advocate for women in management positions. In 2022, it extended substantial financing support to women-led SMEs, lending more than TL700 million in a four-month period.
Best bank for digital solutions: PrivatBank
To assist customers in coping with the impact of the war with Russia, PrivatBank has placed much emphasis on safeguarding customers’ data, funds, account accessibility and cash. As a result, the bank wins best bank for digital solutions in Ukraine this year.
Data governance has emerged as a critical task for banks, so that they can safeguard the accuracy, consistency and security of their data assets.
The financial sector faces various risks, one of which arises from Russian airstrikes targeting energy infrastructure.
In response to this, the bank has moved its IT systems from traditional physical data centres to cloud-based solutions, reducing its reliance on physical hardware and thus minimizing the risk from destruction.
Some 3,500 servers have been migrated, over four petabytes of client data and transactions uploaded, and over 270 critical applications moved.
Privat also developed and introduced premium digital cards, while opening new accounts and reissuing cards for customers can all been done remotely. This has helped those who cannot get to bricks-and-mortar branches.
The bank has also emerged as a key player in facilitating international transfers into Ukraine, thanks to its robust payment channels. The number of international transfers grew by 16% over the review period, while the overall value was up by 7%.
Best bank for SMEs: PrivatBank
Ukraine’s small and medium-sized enterprises have borne the brunt of the financial consequences of the war with Russia. PrivatBank has demonstrated its resolve to support them during the conflict. Since spring 2022, its portfolio of loans to SMEs has increased to Hrn21,311 million ($583 million).
During the review period, the state-owned bank has actively promoted its services for SMEs. New business models have been introduced to its 700,000-strong SME customer base that have enabled the bank to more effectively service current accounts, attract deposits, grant loans and conduct foreign-exchange activity.
The bank has introduced Apple Pay, Google Pay, its own FacePay24 virtual payment cards, as well as digital signatures.
It has issued loans to support production, transportation, trade and other critical sectors of the economy.
Best bank for corporates: Raiffeisen Bank
Raiffeisen Bank has continued to demonstrate resilience and is named Ukraine’s best bank for corporates in a review period dominated by the conflict with Russia.
The largest foreign bank in Ukraine, Raiffeisen reacted to the crisis by moving all daily operations to cloud software and it has served corporates without interruption since the invasion in February 2022.
The bank has focused its efforts on lending to industries that are critical for the country: agriculture, logistics and retail trade, pharmaceuticals and fuel supply. And, despite the situation in the country, its total loan portfolio in Ukraine increased by 1% to Hrn71.39 billion ($1.95 billion). It has disbursed new loans of Hrn10 billion in total.
To meet the challenges of a wartime economy, Raiffeisen has increased foreign currency imports by a multiple of four, which has helped keep the market stable. The bank also acted as an important conduit for money flows into Ukraine of more than Hrn1.2 billion from overseas.
It has also participated in government programmes set up to support the country in wartime. The Affordable Loans 5-7-9 scheme was launched to support entrepreneurs from territories that were attacked and in de-occupied regions. The bank ranked second in terms of the volume of loans provided.
