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  • The bank has made steady but still impressive improvement in its markets business over the last few years. And it was the firm among the 12 biggest to increase revenues in 2023.
  • El Salvador’s economy is performing poorly considering that its president Nayib Bukele recently won a landslide presidential election. His popularity belies an economy that has been blighted by high inflation, rising poverty and low growth.
  • The bank is leveraging all its resources to reach six million individuals by 2025. It is well on its way.
  • HSBC was the standout candidate in this award this year, dominating transaction banking in Asia.
  • It was a mixed year in Austrian banking in 2023. Higher eurozone interest rates bolstered banks’ net interest margins, but at the end of the year the bankruptcy of Austrian real estate group Signa shone the spotlight on what Moody’s said was €2.2 billion of lending by Austrian banks to Signa.
  • In each of equity and debt capital markets, syndicated loans and M&A advisory, Truist Securities ranked higher than its super-regional peers in 2023, according to Dealogic. For its consistency and the progress it has made since the merger of SunTrust and BB&T that created the firm at the end of 2019, Truist wins the award for the US’s best super-regional investment bank this year.
  • Banco Angolano de Investimentos (BAI) posted impressive financial results for 2023. Profit before tax stood at AKz220 billion ($250 million), almost double its 2022 result (AKz115 billion), and the bank achieved a return on equity of 36%, up from 26% the year before.
  • Techcombank further solidified its leadership in Vietnam’s banking sector in 2023. This has been driven by its five-year transformation journey focusing on investments in digital, data and talent under chief executive Jens Lottner, who took the helm in 2020.
  • Despite a local economic slowdown, Bosnia and Herzegovina’s banking sector remained healthy in 2023 for growth, profits and asset quality. It is a market that UniCredit Bank Mostar and Raiffeisen Bank dominate in terms of market share, and this year UniCredit – led locally by chief executive Amina Mahmutović – retains the award for the country’s best bank.
  • Despite the Estonian economy experiencing a severe recession last year, the country’s banking sector remained robust and continued to generate stellar growth, supported by the resilience of companies and households facing higher interest rates.
  • Led by its head of wealth and investment Jacques Els, Standard Bank Wealth & Investment is a private-banking powerhouse in Africa.
  • Commonwealth Bank of Australia (CBA) has solidified its standing as Australia’s best bank, driven not only by robust financial performance but also by its disciplined approach to margin management. Under the stewardship of chief executive Matt Comyn, the bank has strategically opted not to compete for less profitable mortgage customers to focus on delivering sustainable returns.