It was another stellar year for First Abu Dhabi Bank (FAB), under the continued leadership of group chief executive Hana Al Rostamani.

HSBC dominated the region’s debt capital markets across the awards period, completing 52 DCM transactions worth a total of $10.3 billion, according to data from Dealogic. In equity capital markets, the London-headquartered lender came second, completing seven deals worth $2 billion. It also ranked in initial stock offerings, completing six IPOs worth $1.38 billion in total.

Global money is flooding into India to profit from high-performing stocks, a booming economy, and the ease of investing via Gift City, a growing financial hub in Gujarat. Local wealth is flowing the other way, notably to Dubai. It’s a gold mine for private banks, and the process has only just begun.

The challenges presented by the pandemic and broader geopolitical tensions have meant that the role of the chief investment office has become especially important to any private banking offering in the Middle East.

Ultra-high net-worth can be the most challenging client segment to service for private banks. The investable assets these clients provide can come with challenging demands and complicated needs.

Lombard Odier takes home the award for Euromoney’s best pure play private bank in the Middle East this year. The Swiss firm has transformed its presence in the region over the last few years.

Discretionary portfolio management is an important part of Lombard Odier’s offering worldwide, and this is reflected in its business in the Middle East.

In a region where most private-sector commercial activity is undertaken by family businesses, succession planning and wealth transfer could not be more important.

Investment research is about more than producing reports and roundtables. It is about creating quality resources that clients trust and respect.

BNP Paribas Wealth Management has been named Euromoney’s best international private bank in the Middle East for 2024.

Emirates NBD Private Banking’s retail banking and wealth management division generated its highest-ever revenue and strongest loan growth during the awards period and the firm is named Euromoney’s best private bank in the Middle East this year.

The family-office sector in the Middle East has become increasingly important in recent years, with more and more local and international family offices setting up in Dubai and Abu Dhabi.

Emirates NBD has been named Euromoney’s best private bank for digital solutions in the Middle East for a second year in a row.

The banks in each market that have excelled across a range of core private banking activities during the past 12 months.

Sustainable finance came under intense scrutiny across the Middle East when COP28 took place in Dubai last year.

In an African context in which private family wealth is growing rapidly, Standard Bank Wealth and Investment regards itself as one of the few large regional institutions with a comprehensive family-office service. It sees itself as a pioneer in this area, and wants to maintain a preeminent position in the category as the importance of African family offices continues to grow.

The banks in each market that have excelled across a range of core private banking activities during the past 12 months.

FNB has put succession planning at the heart of its private wealth proposition, taking the view that all clients should have access to the service, regardless of income or balance-sheet value. It considers the needs not only of the existing client but also the aspirations of the next generation.

This year’s winner for best bank for high net-worth (HNW) individuals in Africa, Standard Bank Wealth and Investment, is rewarded for delivering clever tailored solutions to its growing clientele across key African markets.

Next-gen clients can be just as diverse as any other private-banking clients, with similar ranges of age, investment goals and overall desire to be involved in the family wealth.

FNB wins the award for Africa's best private bank for ultra-high net-worth this year. The pan-African lender’s distinctive offering for the super wealthy demonstrates its ability to serve these clients.

FNB is this year’s winner for Africa's best bank for discretionary portfolio management. Not only did the regional lender’s discretionary solutions deliver a strong performance compared with its peers, but the bank also continued to innovate to meet new client needs in 2023.

Two key elements of Standard Bank Wealth and Investment’s offering stood out in this category. The first of these, My360, allows clients to visualise and control their financial assets. It offers them an aggregated view of their portfolio across asset classes, providing clients with a view of their net asset value in multiple currencies, and allowing them to delve deeper into different categories from a single dashboard.

Seven years ago, Barclays’ then chief executive Jes Staley decided to gradually sell down its Johannesburg-listed African unit, including retail banks across the continent. But when Credit Suisse announced a strategic refresh in 2021 – including selling its ultra-high net-worth private client book in nine African markets – Barclays saw it as a chance to gain bulk in African private banking once again.

As part of one of South Africa’s biggest banking groups, FNB’s private wealth offering provides clients with advice across local and offshore portfolios to help them leverage their assets at every stage of their life.

As Africa’s largest bank by assets, Standard Bank Wealth and Investment is well-placed to take advantage of the growth of the continent as a private-banking market. The firm is led by Jacques Els.

Last year was marked by innovation and implementation for 2024’s winner of the award for Africa's best bank for philanthropic advisory: FNB.

Bankers in the Middle East are intensifying their focus on succession planning as the first wave of intergenerational wealth transfer looms.

Abu Dhabi and Dubai sell themselves as international hubs for tech companies, with new initiatives to support start-ups and scale-ups, but rules around eligibility for equity listings will hinder the Emirates’ tech sectors if they aren’t changed.

Uneven progress towards financial market reform across the continent continues to pose a challenge for ambitious African corporates.