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Peru

Peruvian banks had a difficult time in 2023, with zero GDP growth and a material contraction in domestic demand. However, inflation did begin to subside during the second half of the year, which led the central bank to reduce the reference interest rate for Peruvian soles by 100 basis points, ending the year at 6.25%. This reduction had a mixed impact for banks, lowering the average net interest margin but improving the country’s economic outlook.

July 19, 2024

Angola

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.

July 19, 2024

Italy

Market doubts, three years ago, about whether Andrea Orcel’s management of UniCredit would be sufficiently orientated to shareholder value have proven to be far from the mark. Orcel might have shied away from a deal with the Italian government to buy Banca Monte dei Paschi di Siena in 2021, but this has not prevented UniCredit from remaining a large and growing part of the European banking story.

July 19, 2024

Awards for Excellence

CEE’s best bank for financing: BNP Paribas

It is not normally thought of as one of the banks with a large stronghold on central and eastern Europe. Nevertheless, BNP Paribas still owns relatively large banks in what are, in effect after the 2022 invasion of Ukraine, the region’s two biggest markets in terms of banking: Poland and Turkey.

July 19, 2024

Awards for Excellence

The US’s best bank: JPMorgan

If there was ever a time that demonstrated JPMorgan’s credentials as the country’s best bank, it was the crisis in March and April 2023 when US regional banks suddenly faced a balance sheet reckoning triggered by the rapid change in interest rates.

July 19, 2024

Awards for Excellence

Western Europe’s best bank for wealth management: BNP Paribas Wealth Management

BNP Paribas Wealth Management operates across 17 countries, serving a client base of entrepreneurs, family offices and high net-worth individuals.

July 19, 2024

Tanzania

NMB Bank is Euromoney’s best bank in Tanzania for 2024. Total assets grew by 19%, from $3.95 billion at the end of 2022 to $4.7 billion at the end of 2023. Net profit was also up 26% at $208.6 million. Both increases are the product of loan growth of 28% and a rise in the number of customer accounts – the bank opened 1.2 million new accounts in 2023 alone.

July 19, 2024

Awards for Excellence

Western Europe’s best bank for transaction services: HSBC

HSBC wins the award for western Europe’s best bank for transaction services thanks to the delivery of an impressive range of services to corporate treasurers that the bank has developed over years of heavy investment.

July 19, 2024

Ireland

The awards period marked a triumphant return to performance for Allied Irish Banks (AIB), Ireland’s best bank. Putting behind it its involvement in the years-long industry-wide tracker mortgage scandal in Ireland, for which it was fined €100 million in 2022, the bank posted a very strong recovery in 2023, with record profits that nearly tripled versus the previous year. Revenues rose 62%, driven by net interest income that was up more than 80%.

July 19, 2024

Spain

Even its rivals in Spain admit to feeling the impact last year as CaixaBank moved on from integrating Bankia to concentrating more exclusively on developing its business organically. This is evident, for example, in the savings market, where its customer funds increased by 3.1% in 2023. In insurance, a vital part of the group’s activities, there was also healthy growth, with a 7% volume growth in general and life risk premiums.

July 19, 2024

Awards for Excellence

North America’s best bank for transaction services: Bank of America

Transaction banking clients faced many challenges in 2023, mostly as a result of the rapidly shifting interest rate environment. That made it vital to have a banking partner that could supply reliable advice on liquidity management.

July 19, 2024

Awards for Excellence: Best bank for ESG in Turkey – Akbank

For the volume of sustainable finance being provided to the Turkish economy, as well as innovation in sustainability products, Akbank wins the award as best bank for environmental, social and governance this year.

July 19, 2024

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