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DBS was named as the world’s best bank for 2019 in the Euromoney Awards for Excellence at a gala dinner held at the London Hilton Park Lane tonight.
The Singapore-based bank is the first from outside the US or western Europe to receive the top prize in the 27-year history of the Euromoney awards programme, which is considered the most coveted and competitive in the global banking industry.
Presenting the award to DBS’s chief executive Piyush Gupta, Euromoney’s editor Clive Horwood remarked: “DBS was chosen for this award because it represents what we believe a bank should look like today. No other institution has worked so hard to embrace and lead digital disruption; and while some banks demonstrate their technological prowess with impressive apps, DBS does so by embedding digital innovation into everything it does – with a tangible positive impact on the bottom line. It has achieved this with a clear-sighted focus on sustainability that positions it well for the years ahead.”
JPMorgan won the award for the world’s best investment bank, thanks to its leading position in many areas of the business. Euromoney said: “JPMorgan today dominates the global corporate and investment banking landscape. It leads across capital markets and FICC. It is a powerful force in equities, advisory and transaction services. The sum of these parts makes JPMorgan the clear number one to an extent no bank has been before, thanks to a consistent long-term strategy led by a senior management team that abhors complacency and keeps the business in a constant state of reinvention.”
Andreas Treichl, the chief executive of Austria’s Erste Group, was named Euromoney’s banker of the year. Euromoney said: “Andreas Treichl is a giant of banking in central and eastern Europe. For more than 20 years he has guided Erste successfully and consistently through the ups and downs of emerging Europe’s fortunes, always with a focus on long-term goals. Today Erste, thanks to Treichl’s leadership, is a bank that performs strongly and is well positioned for the future, especially due to its leading digital banking platform, George. And, in a region where it remains desperately needed, Erste is doing more to push financial inclusion than any other institution.”
Once again, competition was especially tough in categories relating to responsible finance. BNP Paribas was named the world’s best bank for corporate responsibility, HSBC for sustainable finance, BBVA for financial inclusion and Bank of America retained its title as the world’s best bank for diversity and inclusion for a second year.
In the year of Euromoney’s 50th anniversary, a landmark that was celebrated by 500 bankers from around the world at the dinner tonight, banks based in developing markets made a greater impact in the awards than ever before. In addition to DBS’s best bank award, Turkey’s Akbank was named the world’s best digital bank. The UAE’s First Abu Dhabi Bank was named best bank transformation for the successful completion of its merger. Brazil’s BTG Pactual was awarded best investment bank in the emerging markets, and Bank of China the best emerging market bank.
Traditional global leaders continued to perform strongly: multiple global award winners included Citi as world’s best bank for transaction services and world’s best bank for corporates; Morgan Stanley as world’s best bank for markets and world’s best bank for financial institutions; and HSBC as world’s best bank for SMEs and world’s best bank for public-sector clients. Lazard overcame the challenge of its bigger Wall Street competitors to be named world’s best bank for advisory, while Credit Suisse was awarded world’s best bank for wealth management.
Euromoney also presented regional and country awards to banks from North America, Latin America, western Europe, central & eastern Europe and Africa (the Middle East and Asia awards are announced at separate ceremonies). The best banks in each region included: Nigeria’s Guaranty Trust Bank (Africa), Belgium’s KBC (western Europe), Santander Brasil (Latin America) and Raiffeisen Bank International (CEE).
About the Awards for Excellence
For 50 years, Euromoney has been the leading publication for covering the growth of international finance. Over the past 12 months its coverage has included interviews with close to 100 bank CEOs, ministers of finance and central bank governors around the world.
Euromoney's Awards for Excellence are the awards that matter to the banks and bankers who matter. They were established in 1992 and were the first of their kind in the global banking industry. This year Euromoney received almost 1,000 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries. Access the results Please contact Patrick McCulloch, Euromoney, at +44 (0)2895 912905 or firstname.lastname@example.org, or subscribe online.