The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

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 questions for acquirers in these countries, KBC - buyer of a majority stake in Ceskoslovenska Obchodni Banka in the Czech Republic - has been prompted to bail out a troubled (and politically sensitive) Czech bank, Investicni a Postovni Banka (IPB).




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree