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It was a hit and miss year for the UAE’s leading banks. Abu Dhabi Commercial Bank found itself caught up in the US sub-prime crisis, leading to a $152 million writedown in 2007, with the possibility of more to come. Dubai Islamic Bank, too, is undergoing a difficult period after police detained the former chief executive of Deyaar Development, of which DIB owns 41%, as part of an investigation into a possible fraud.

Bank of Cyprus is not only the largest bank in the country but also the best run. With net income growth of 55%, a cost to income ratio of 43.6% and a return on equity of 27.6%, it is hard to fault.

The bank with the best story to tell in Spain over the past year is Banesto, a member of the Santander family.

HSBC is still the best bank in Hong Kong and shows no sign of relinquishing its dominant position in its home market. The bank extended its lead over the competition when measured by profits – quite some feat given how far in front it already was. Profits before tax grew 42% in 2007 to HK$ 53.8 billion ($6.9 billion), more than double those of the nearest competitor.

JPMorgan Consistency and ability to execute landmark transactions makes it a clear winner in emerging markets.

Citi

Amman is the somewhat unexpected home of what, by some measures, is the largest bank in the Middle East – Arab Bank.

Public Bank is Malaysia’s largest bank by market capitalization and, by some distance, the country’s best-performing lender. It offers excellent financial ratios, the steadiest yields in the country and, most pertinently in these turbulent times, a steady institution focused on maintaining growth while minimizing risk.

Citi The bank’s emerging markets business has excelled despite the tough conditions and Citi’s own troubles.

Despite difficult economic conditions in 2007, Moldova-Agroindbank still managed to boost its net profit by a healthy 30% margin to MLei235.5 million ($23.6 million). The bank remains the country’s largest by assets, with a 21% market share and plays a key role in the economy, providing roughly 23% of all loans and accounting for 22% of total deposits. The bank continues to attract new investors, with Slovenian textile manufacturer Tkanina joining fellow Slovene outfits Factor Banka and asset managers Poteza, Activa Invest and Druga Penzija as shareholders.

Egypt has one of the highest GDPs in the Middle East. But compared with the other big economies of the region – Saudi Arabia, United Arab Emirates and Iran – its consumer banking industry has lagged behind.