Asiamoney Best Bank Awards
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Golomt Bank takes the best domestic bank award for Mongolia this year in recognition of its financial performance and efforts to improve sustainability and diversity.
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Mongolia’s best bank for corporates this year is Golomt Bank, which has enhanced its products and services to support the changing needs of domestic corporates.
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Golomt Bank distinguished itself during the awards period as a leader in corporate social responsibility demonstrating commitment to Mongolia's social and economic development and cultural heritage.
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Khan Bank, the largest commercial bank in Mongolia, has been named best bank for environmental, social and governance in the country this year in recognition of its work to develop green financial products and services and to support sustainability.
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Trade and Development Bank (TDBM) takes the diversity and inclusion award in Mongolia this year thanks to its clear strategy to improve gender equality within and outside the bank.
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Citi is Kazakhstan’s best bank for corporate social responsibility after running initiatives to support the local community and to promote sustainability.
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Halyk Finance wins best investment bank in Kazakhstan. Rated BB+ by Fitch, it has the highest credit rating among domestic banks with no foreign participation.
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Hana Bank wins best domestic bank in Korea this year after a solid financial performance and innovation in its digital offering.
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After performing strongly across all products, recording high income growth and enhancing its offering, KB Securities is Korea’s best investment bank this year.
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High mobile phone penetration in Mongolia has driven domestic banks to ramp up their digital transformation efforts. Khan Bank was the first in Mongolia to introduce internet banking in 2007. Its mobile application was launched in 2013, and in 2022, users of its digital platform totalled 1.7 million (close to 50% of the population), with the ratio of transactions made through digital channels over conventional reaching 99%.
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Khan Bank is Mongolia's best bank for small and medium-sized enterprises after having grown its business and commitment to the segment.
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Citi is named best international bank in Korea after an improved year-on-year financial performance.
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The implementation of a clear and successful digital strategy sees kakaobank take best bank for digital solutions in Korea.
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Industrial Bank of Korea is named the best bank for small and medium-sized enterprises in Korea this year thanks to its provision of specialized services to the sector, from flexible financing to personalised advisory.
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International sanctions against Russia and a slowdown in China’s economy have presented difficult challenges for Kazakhstan’s banking industry this year. Nevertheless, the country’s best domestic bank, Forte Bank, put in a good performance.
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Citi is the best international bank in Kazakhstan, with a 25% market share of processed payments through correspondent accounts. It provides Kazakh clients with a variety of cross-border products, such as debt capital markets and services to those considering international expansion.
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For underwriting a range of sustainable debt financings and an equity deal over the awards period, Morgan Stanley wins Japan’s best bank for environmental, social and governance this year.
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Resona Group wins best bank for small and medium-sized enterprises this year. It rivals the country’s larger banks in terms of the scale of its loan portfolio to the segment and its commitment to these businesses through various products and services.
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MUFG Bank is Japan’s best bank for corporates after a period of impressive financial achievement. It has made investments to help foster the development of the country’s startup culture and to help improve sustainability among its corporate community.
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After a period that saw the bank achieve solid market share in all core parts of its investment banking business in Japan, Morgan Stanley is named best investment bank in the country this year.
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Despite challenges both domestically and abroad, MUFG Bank has been named Japan’s best domestic bank following a relatively strong financial performance that supports the business's growth.
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Citi is the best international bank in Japan this year after a period of good financial performance and the introduction of changes to improve efficiency and returns.
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Hamkorbank, one of the first banks opened in the country following independence in 1991, wins best domestic bank in Uzbekistan for its performance over the awards period this year.
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Hamkorbank wins best bank for small and medium-sized enterprises in Uzbekistan in recognition of its continued commitment to providing high quality service to SME clients in the country. Some 98.87% of the bank’s corporate clients are SMEs, and as of January 1, 2023, Hamkorbank holds 19.12% of the SME market in Uzbekistan.
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Asia Alliance Bank is the best bank for digital solutions in Uzbekistan following continued improvement in its digital platform. In the past year, it has worked with a software developer to design and launch a new app.
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Sumitomo Mitsui Banking Corporation has backed initiatives to support the elderly and the young and to improve education among those who struggle to access it in the country. It is named best bank for corporate social responsibility in Japan this year.
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The first domestic bank in Korea to produce a sustainability report, Shinhan Bank is named best bank for environmental, social and governance in the country after pursuing a robust sustainable agenda through financing activities and a series of sustainable partnerships.
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Shinhan Bank is Korea’s best bank for corporate social responsibility. It has an extensive range of initiatives targeting individuals of all ages and abilities, and it supports business startups across the country.
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Tenge Bank, a subsidiary of Halyk Bank, the largest financial group in Central Asia, wins the award for best international bank in Uzbekistan.
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Citi is named best bank for diversity and inclusion in Japan after introducing a range of programmes and benefits for employees with a broad impact.
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Following a notable period of growth for Japan’s largest bank by customers, Rakuten Bank wins the best bank for digital solutions award this year.
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China Merchants Bank
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SBI Royal Securities
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Kiatnakin Phatra Securities
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Vietcap Securities
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Siam Commercial Bank
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Maybank Investment Bank
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Indo Premier Sekuritas
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Which banks in each market have excelled across a range of core banking activities over the past 12 months?
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Ping An OneConnect Bank
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Airtel Payments Bank
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Commercial Bank of Ceylon
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Japan’s biggest banks generally recorded solid performance in the financial year ending March 31, 2022, thanks to their retail and global corporate banking business lines. Of the lot, Mitsubishi UFJ Financial Group impressed the most, making it Asiamoney’s best domestic bank in Japan in 2022.
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Citi’s global franchise needs little introduction. The same is the case in Japan, where the US bank has been present for 120 years and has built a reputation for offering world-class financial products and services.
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In its 50 years in Japan, Morgan Stanley has showcased how effectively it can navigate challenges and remain impactful as it proves its mettle and expertise to clients.
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Japan’s biggest banks generally recorded solid performance in the financial year ending March 31, 2022, thanks to their retail and global corporate banking business lines. Of the lot, Mitsubishi UFJ Financial Group impressed the most, making it Asiamoney’s best domestic bank in Japan in 2022.
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Nomura has taken its corporate social responsibility initiatives in Japan and overseas very seriously for a long time. It has been involved in pioneering financial literacy since the 1990s – and it is still a key area of focus.
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Citi’s global franchise needs little introduction. The same is the case in Japan, where the US bank has been present for 120 years and has built a reputation for offering world-class financial products and services.
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Small and medium-sized enterprises in Japan still face a tough business environment: even though the effects of the pandemic have eased somewhat, supply-side limitations, such as a rise in raw material costs and fuel hikes, have added to the pressure.
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Digitalization in Japanese banking took a big leap during the pandemic. As customers had no choice but to go virtual for their banking needs, digital solutions were crucial. With its strategic goal of helping to solve social issues digitally, Rakuten Bank stands out from the pack.
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China Merchants Bank was a clear outlier among its domestic banking peers in the mainland in the past year as its 3.0 business model took shape and produced solid results.
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As the world’s largest bank by assets, Industrial and Commercial Bank of China has proven time and again that it is more than capable of navigating any headwinds and challenges that come its way.
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Ping An Bank’s transformation over the last five years has given it an undisputed, and long, lead over its peers in digital solutions.
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Bank of China has long been at the forefront of the mainland’s environmental, social and governance ambitions, and its pivotal role in driving the national agenda has gained steam in recent years.
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Small and medium-sized enterprises are the mainstay of the Chinese economy, given they account for about 97% of all firms in the country and play a vital role in providing employment opportunities.
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Every bank in China has put corporate social responsibility firmly in its sights, especially over the past few years of pandemic-induced hardships. But the Asiamoney 2022 award for best bank for CSR in the country goes to China Construction Bank for going above and beyond the standard CSR focus.
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HSBC has operated in mainland China since 1865 and is a force to be reckoned with: it is the largest foreign bank in the country, operating in 50 cities, with 150 outlets and over 7,000 employees.
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As a US bank operating in China, Citi has had to balance difficult political relations between the two countries to run its business, navigating trade tensions, a sparring of words between the presidents of these two superpowers, disputes over US audits of Chinese firms, and the near-halt of lucrative China-into-US IPOs.
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Creating a version of Silicon Valley in Mongolia has always been the driving force behind LendMN, founded by Anar Chinbaatar, Boldbaatar Ochirsuren, Otgonbayar Uuye and Otgonbayar Purevsuren.
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There are few Asiamoney awards categories for Kazakhstan that Halyk Bank doesn’t have a reasonable claim to this year. Its investment and corporate banking franchises are hard to beat, while its role in supporting small and medium-sized enterprises and its prowess in disrupting its own business model deserve a shoutout.
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Citi has operated in Kazakhstan for more than 25 years; even so, the challenges posed by the pandemic, geopolitical events and the most aggressive US Federal Reserve tightening cycle in decades still came as quite a shock.
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Bank CenterCredit, one of Kazakhstan’s oldest commercial banks, has evolved to form the backbone of the corporate system that stabilizes the economy. Its extensive branch network and its universe of correspondent relationships with more than 40 foreign banks have proved indispensable in these last few years.
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Home Credit Bank Kazakhstan has made tech disruption its brand over the years.
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Shinhan Bank arguably pioneered the finance culture that built the modern banking industry in South Korea. The firm has its roots in Hanseong Bank, which dates back to 1897. But even now, Shinhan is setting the pace for the country’s financial sector.
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Shinhan Bank arguably pioneered the finance culture that built the modern banking industry in South Korea. The firm has its roots in Hanseong Bank, which dates back to 1897. But even now, Shinhan is setting the pace for the country’s financial sector.
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In May 2022, when South Korea’s startup accelerator D.Camp opened its first office in the port city of Busan, Kam-Chan Ahn topped the list of VIP invitees. After all, as chief executive of regional powerhouse Busan Bank, Ahn’s leadership team has carved out quite a name for itself among innovators in Korea’s second-biggest city.
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The unmatched global network that Citi brings to South Korea is offering local clients ready access to international markets. The bank also excels at providing multinational corporations operating in Korea with access to the local market, making it an obvious choice for best international bank in the country.
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Like South Korea’s economy, KB Financial Group has a knack for coming through a crisis looking relatively unscathed.
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KB Kookmin Bank has boosted its support for small and medium-sized enterprises at incredible speed in recent years, with a tilt towards South Korea’s blossoming technology sector.
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In the past year, Trade and Development Bank of Mongolia consolidated its leading position as the universal banking service provider of choice for corporations.
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In the past year, Trade and Development Bank of Mongolia consolidated its leading position as the universal banking service provider of choice for corporations.
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No one does corporate social responsibility in the country on the scale of Trade and Development Bank of Mongolia, which pairs its CSR operations with its increasing commitment to sustainability in the local market.
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When Norihiko Kato took the helm of Golomt Bank in 2019, he had little idea of the global chaos to come. The Covid-19 pandemic greatly complicated plans to expand the bank’s business in the retail, corporate and small and medium-sized enterprise sectors. But Golomt succeeded anyway.
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Excelling at diversity is about much more than naming a couple of women to top jobs.
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It is said that the true test of leadership is a crisis – and KakaoBank’s top executives were certainly put to the test on several occasions during the awards period.
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Most banks pledging to reduce carbon footprints tend to target the end of the decade. Few can claim to have as ambitious a plan to get there as Hana Bank, which is carrying out a 30/60 plan.
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In August 2022, Woori Bank’s parent company, Woori Financial Group, put the law of big numbers to great use. Its plan to offer financial assistance worth W23 trillion ($17 billion) to socially vulnerable groups over three years garnered banner headlines.
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Khan Bank’s chief executive, Munkhtuya Rentsenbat, landed the top job at an unusually challenging time: it was December 2020, when the economic cracks due to Covid-19 were appearing and shaking world markets.
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ForteBank is doing more than its fair share of helping Kazakhstan to navigate a difficult global environment.
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ForteBank is doing more than its fair share of helping Kazakhstan to navigate a difficult global environment.
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ForteBank is doing more than its fair share of helping Kazakhstan to navigate a difficult global environment.
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There are few Asiamoney awards categories for Kazakhstan that Halyk Bank doesn’t have a reasonable claim to this year. Its investment and corporate banking franchises are hard to beat, while its role in supporting small and medium-sized enterprises and its prowess in disrupting its own business model deserve a shoutout.
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There are few Asiamoney awards categories for Kazakhstan that Halyk Bank doesn’t have a reasonable claim to this year. Its investment and corporate banking franchises are hard to beat, while its role in supporting small and medium-sized enterprises and its prowess in disrupting its own business model deserve a shoutout.
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There’s a new player in Vietnam and it’s disrupting the banking industry, snapping up customers at a rapid clip, and slowly but surely grabbing a bigger piece of the pie.
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There are many reasons why Maybank is Asiamoney’s pick for best international bank in Cambodia.
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This January was quite a milestone for UOB. The Singaporean bank agreed to acquire Citi’s consumer banking business in several southeast Asian countries, including Thailand.
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What do you get when you combine solid financials, a comprehensive franchise, digital banking prowess, a big ESG impetus and even bigger ambitions for growth? Answer: UOB, Asiamoney’s pick for best domestic bank in Singapore for 2022.
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HSBC had its share of headwinds in the past year. Covid variants hit Indonesia’s economy and businesses, but the bank emerged stronger than ever and was the clear winner of the award for best international bank in Indonesia for 2022.
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As a universal bank that has been around for five decades, Metrobank has a solid reputation in the Philippine banking industry.
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The last two years have taught Indonesian lenders one hard but important lesson – customers need banking, but they don’t necessarily need banks.
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Standard Chartered’s credentials in the environment, social and governance field are well known. Like many others, the bank has committed to reach zero carbon emissions from its operations by 2030 and from its financing 20 years later.
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Bank Rakyat has been playing a significant role in the area of ESG in Indonesia, using its reach and credentials to help the natural resources and coal-reliant country adopt better practices.
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HSBC, which opened in Vietnam in 1995, is now a full-scale bank with a solid franchise. It wins Asiamoney’s award for best international bank in Vietnam thanks to the kind of advice it offered clients in the past year, stressing the need to stay focused rather than chasing every opportunity in this fast-growing economy.
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HSBC, which was the first commercial bank to be set up in Thailand in 1888, still leads the way among its international banking peers. It’s a feat that makes it Asiamoney’s best international bank in Thailand in 2022.
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Among Cambodia’s local investment banks, SBI Royal Securities is the one to beat, thanks to its experienced team, strong shareholder support, large network of investors and an excellent track record of deals.
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Bangkok Bank, Thailand’s largest bank by total assets and southeast Asia’s sixth-largest lender, has all the metrics to warrant our award for best bank for digital solutions in Thailand.
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DBS takes home three Singapore awards from Asiamoney this year: best investment bank, best for digital solutions and best for CSR.
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The Philippines has long punched above its weight in gender equality. In the latest World Economic Forum rankings, it’s the only Asian economy listed in the top 20. Ranked 19th, it is 83 rungs ahead of China and 97 ahead of Japan (Iceland and Finland top the list).
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Credit Suisse is making the most of its 30th year in the Philippines, despite the turbulent markets and volatile fundraising conditions.
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Small and medium-sized enterprises are often described as Indonesia’s growth engines. But they also took one of the biggest beatings during the pandemic as lockdowns and disruptions in supply chains impacted their operations.
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Bank Rakyat has been playing a significant role in the area of ESG in Indonesia, using its reach and credentials to help the natural resources and coal-reliant country adopt better practices.
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UOB Indonesia’s initiatives concerning art take its corporate social responsibility agenda to a whole new level.
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Hong Leong Bank has come a long way since it received its operating licence for Cambodia in August 2013, becoming the newest Malaysian bank to enter the country. Already it has made clear its ambitions and plans for growth in the country.
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Fifty years of building repeat business relationships with local firms – whether energy company PTT Group, conglomerates such as Charoen Pokphand Group, Bank of Ayudhya, transport outfit BTS Group Holdings and Bangkok Dusit Medical Service – can pay off in times of market turbulence. That was the case with Kiatnakin Phatra Securities over the past year, but it takes the best investment bank award for 2022 for going a step further when it comes to helping clients.
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HSBC’s Singapore franchise has really come into its own in the past few years, signalling to rivals that it’s no longer a Greater China one-trick pony, but a bank with a broad geographical footprint, including a booming Singapore and southeast Asia business.
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In an era when most investment banks scramble to help small and medium-sized enterprises repair past damage, CIMB deserves kudos for looking ahead to where Malaysia Inc hopes to go.
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Deutsche Bank is as good as a local lender given it has been in Indonesia for more than 50 years. Its commitment to the southeast Asian nation is reflected in its strong presence with more than 300 employees working across its key business pillars – foreign exchange and bond trading, investment banking, custody services, trade finance and cash management.
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In an age when banks everywhere are playing catch-up with ESG principles, Maybank’s longstanding commitment to diversity in its ranks is winning important shoutouts. Although there are other measures, Bloomberg’s GEI carries real weight in the industry because of its place at the nexus of financial data and reporting.
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Since 1978, BPI Foundation has been a cornerstone of the Philippine economy’s social development.
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In close to 30 years of offering Shariah-compliant products and services, Public Islamic Bank has become part of Malaysia’s market infrastructure, paving the way for the industry and its constellation of issuers and investors.
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Kasikornbank added a major feather to its cap in February when it earned S&P Global’s highest ESG scores in Asean. It also won S&P’s prestigious Global Silver Class distinction.
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Siam Commercial Bank is often celebrated for driving Thailand’s economic development over the past 100 or so years. These days, however, the bank is getting more attention for leaning rather boldly into the century to come.
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Bank of the Philippine Islands was the first bank set up not just in the Philippines but the broader southeast Asian region, too. Over the last few decades, it has consistently ranked among the biggest Philippine institutions in terms of total assets, capital, market capitalization and profitability.
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When Credit Suisse accepted a mandate in October 2021 for IOI Corporation’s $300 million, 10-year bond, many observers in Malaysia could not help but wonder if the Swiss bank was trying to make a point.
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Despite all the investment banking rivals nipping at its heels in 2021, Maybank Investment Bank, which has spent 49 years navigating the ebbs and flows of Malaysia’s event-rich economy, proved unbeatable.
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With a history dating back 77 years, Bank of Ayudhya has long been a vital part of the fabric of Thailand. It proved that time and again in the past two years, too, especially with its leadership in corporate social responsibility.
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With a 120-year history in Singapore, Citi can almost be considered a local bank. The US major operates in the southeast Asian city through three entities: Citibank Singapore, Citibank Singapore branch and Citicorp Investment Bank (Singapore).
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Canadia Bank, one of Cambodia’s oldest banks, has seen plenty of changes over the past five years, including the steady refocusing of its business lines.
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DBS takes home three Singapore awards from Asiamoney this year: best investment bank, best for digital solutions and best for CSR.
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When it comes to combining banking and innovation in Cambodia, one doesn’t need to look any further than ABA Bank. With chief executive Askhat Azhikhanov in the hot seat, the firm has made bringing new technology to Cambodia’s financial sector a priority. Case in point: it was the first to launch a full-scale mobile banking app in Cambodia in 2015.
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UnionBank of the Philippines took a pioneering step in July 2021 that caught the market’s attention: it unveiled a partnership with the International Finance Corp to issue social bonds to finance small business loans.
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Viet Capital Securities has become Vietnam’s leading investment bank and brokerage house since it was set up 15 years ago.
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UBS has come a long way in the Philippines since it opened a rep office in Manila in 1996. It wasn’t until 2004 that UBS opened its full-fledged office in the Philippines, led by the veteran banker Lauro Baja, who is head of global capital markets for Asia Pacific and head of global banking for the Philippines.
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One of Rizal Commercial Banking Corp’s biggest advantages is its partnership with the Cooperative Development Authority.
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DBS takes home three Singapore awards from Asiamoney this year: best investment bank, best for digital solutions and best for CSR.
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When the United Nations Development Programme was looking for a Thai bank to partner with for financial inclusion, it called Krungthai Bank.
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BDO Unibank, led by president and chief executive Nestor Tan, is the Philippines’ largest bank by assets and is often seen as a bellwether for one of Asia’s least predictable economies.
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Credit Suisse has had to put out numerous fires in the past couple of years as its global business came under pressure on different fronts. In Indonesia, however, it held its ground, making it Asiamoney’s best investment bank in the country for 2022.
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The way RHB Banking Group responded to Malaysia’s overlapping crises these last two years is nothing short of impressive.
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Saigon-Hanoi Commercial Joint Stock Bank’s corporate social responsibility programme marries caring for the community with ecological and environmental protection.
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The last two years have taught Indonesian lenders one hard but important lesson – customers need banking, but they don’t necessarily need banks.
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In banking and finance, timing is everything. When TMB and Thanachart Bank announced their merger in 2019, it made sense: two strong names joining forces to create Thailand’s sixth-largest bank.
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With a 120-year history in Singapore, Citi can almost be considered a local bank. The US major operates in the southeast Asian city through three entities: Citibank Singapore, Citibank Singapore branch and Citicorp Investment Bank (Singapore).
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Small and medium-sized enterprises are essential for economic development and job creation in most economies. But in a frontier market like Vietnam, they are even more critical, so it is important that banks cater to their needs.
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Bank Syariah Indonesia, formed last year by the merger of three state-owned Islamic banks, has rapidly proved its worth in the market.
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Citi is a strong corporate banking force in Vietnam. It has been there since 1994 and now has two branches – one in Hanoi, the other in Ho Chi Minh City – and about 800 staff.
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When a lender’s motto is “change banking, change lives”, it attracts attention. Vietnam Technological and Commercial Joint Stock Bank, also known as Techcombank, should be taken seriously with its ambitions to become one of the top 10 banks in southeast Asia and more than triple its market capitalization to $20 billion in the next five years.
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Credit Suisse’s global footprint gives it an edge when it comes to taking pole position in Vietnam’s investment banking industry. It also helps that the Swiss firm is one of the few international banks with a comprehensive frontier-market franchise, including a big focus on Vietnam.
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OCBC wins the Asiamoney award for best bank for SMEs in Singapore yet again, reflecting its continuous and growing relevance in this segment, its ability to think outside the box in bringing appealing products and services to its clients, and for its unwavering commitment to its customers – no easy feat in a Covid-hit environment.
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If any bank in Malaysia put pressure on its peers to play catch-up in 2021, it’s Hong Leong Bank, the nation’s oldest local financial institution.
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Citi’s Malaysia chief executive, Usman Ahmed, took the reins at the bank in February 2021, in the thick of the Covid-19 pandemic and at a time of political turmoil.
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AmBank, led by chief executive Sulaiman Mohd Tahir, has been rapidly gaining ground at home.
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Kuala Lumpur’s banking scene is awash with savvy mobile apps that ensure customers might never again want, or need, to enter a bank branch.
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Union Commercial Bank, led by CEO Jordan Chung, is Asiamoney’s winner of the best bank for CSR in Cambodia for successfully integrating its responsibility to the community with its business activities.
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Making the most of very little served Credit Suisse’s Cambodian investment banking operations well in the past year. During Asiamoney’s awards period, the economy was still struggling to recover from the pandemic, leading to a difficult environment for capital-raising. Yet the Swiss bank, led by head of frontier markets Babur Rais, brought some key deals to the market.
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As a subsidiary of Malaysia’s Public Bank, Campu can leverage the strength and reputation of its parent when it comes to attracting clients.
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Which banks in each market have excelled across a range of core banking activities over the past 12 months?
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Greater China powerhouse HSBC wins three of Asiamoney’s awards for Hong Kong this year: best domestic bank, best investment bank and best bank for digital solutions. And for good reason. HSBC proved its mettle across a host of different business lines, despite the triple threat of the pandemic, market volatility and pressure on net interest margins.
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Sampath Bank wins Asiamoney’s award for best bank for corporate and social responsibility this year because of the impact of its innovative and social-changing ways during Sri Lanka’s economic crisis.
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Huatai International, wholly owned by Chinese brokerage house Huatai Securities, impressed Asiamoney this year with the efforts it has made to revamp its investment banking franchise and stay relevant to clients in a difficult environment. It wins the award for the most transformed investment bank in Hong Kong.
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Credit Suisse’s willingness to take Pakistan far more seriously than many of its global peers has paid off handsomely in the past year.
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Over the last century, Sanoat Qurilish Bank has had a front-row view of Uzbekistan’s economic zigs and zags. But it is the work the bank is doing to forge a greener future that put it in front to win our awards for best domestic bank and best for environmental, social and governance this year.
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India had a tough time during the pandemic. A sharp decline in consumer spending hit many businesses, which in turn squeezed the banks and led to a 7.3% contraction in the economy in the financial year from April 2020 to March 2021.
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The nine years since Dhaka Bank incorporated its investment banking arm have been as action-packed as its executive team could have anticipated in 2013. Indeed, Dhaka Bank, led by chief executive Emranul Huq, epitomises much of the transformation seen in Bangladesh in the last decade.
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When a bank has been operating in a market for more than a century, it is bound to have established deep ties with a host of businesses, from the small and medium-sized companies to the largest, privately owned blue-chip conglomerates.
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Running a bank during the Covid-19 crisis in Myanmar is hard enough. Throw in a military coup and the situation becomes far worse.
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UCB Investment, a wholly owned subsidiary of commercial bank United Commercial Bank, was formed in 2011 but only received its licence to start operations as a fully fledged investment bank in October 2020. The period that followed was anything but typical, thanks to global turmoil and uncertainty. Through it all, the bank kept its cool to serve customers – and secure the Asiamoney best corporate bank award for 2022.
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Arif Habib’s hopes for the stock market in Pakistan were dashed this year. Granted, its analysts were not alone in predicting that after a bruising 2021, the KSE-100 Index would bounce back in 2022. But AHL’s prediction that the market would make history, topping 55,000 points, grabbed headlines.
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Standard Chartered is determined to be at the forefront of environmental, social and governance. Where better to do that than in Hong Kong, which is well-positioned to shape the future of green finance in the region and has long led the development of innovative ESG-linked products?
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In its 15 years of existence, JS Bank has come to be known for many things. It is one of Pakistan’s fastest-growing financial institutions, a leader in the digital banking space and a generator of insurance products. But the bank’s most important influence may be how its strong commitment to diversity and financial inclusion is prodding peers to follow its lead.
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Mark Surgenor started work as chief executive of HSBC’s Sri Lankan business in December 2021. Within just a couple of months, his bank found itself operating in a country in chaos. Sri Lanka’s economic crisis quickly turned into a political one, leading to a change in prime minister and cabinet and the sovereign’s landmark default on its international debt.
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Asakabank is Asiamoney’s choice for best corporate bank in Uzbekistan’s financial scene because of its senior management’s ability to steer the bank in the right direction in the roughest of global environments.
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When a bank has been operating in a market for more than a century, it is bound to have established deep ties with a host of businesses, from the small and medium-sized companies to the largest, privately owned blue-chip conglomerates.
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It is easy to be cynical about environmental, social and governance, but Green Delta Capital is all the proof sceptics need that environmentally friendly finance is a sound business proposition. Founded in 2010, the investment bank has quickly become one of the fastest growing in Bangladesh.
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Eastern Bank, run by chief executive Ali Reza Iftekhar, has been a consistent presence in Asiamoney’s annual best bank awards. Over the last year, the firm went the extra mile to remind the market why.
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Orient Finans Bank’s year was, statistically speaking, a study in how to succeed even in the harshest of economic environments.
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Timing is everything when it comes to investing. So United Bank’s decision to bet big on building digital platforms in the two years before the pandemic hit was apposite.
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BNP Paribas’s relationship with India stretches back to 1860: since then, the lender has grown steadily, connecting with Indian businesses both inside and outside the country.
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E.SUN Bank is second to none in serving the different segments of Taiwan’s banking industry. This year, it wins Asiamoney’s award for best domestic bank in Taiwan, as well as best for corporates and best for small and medium-sized enterprises.
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Darshan Perera, chief executive of NDB Investment Bank, oversaw a stellar year for the full-service investment bank in 2021; the runaway market leader stood out thanks to its wide range of debt and equity capital market deals and M&A transactions, and it held corporate advisory roles on large trades.
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Depending on how you look at it, opening shop in Uzbekistan in 2019 was either poorly timed or a stroke of genius. Kazakhstan’s Halyk Bank is doing a solid job of proving that its decision to set up Tenge Bank in Uzbekistan, now in its fourth year, was the smart thing to do as it increases its footprint in local investment circles.
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E.SUN Bank is second to none in serving the different segments of Taiwan’s banking industry. This year, it wins Asiamoney’s award for best domestic bank in Taiwan, as well as best for corporates and best for small and medium-sized enterprises.
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The changing of the guard at a systemically important Sri Lankan bank can be alarming even in the best of times. But throw a political and economic crisis into the mix and the situation becomes even more fraught.
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In early 2017, when Dimantha Seneviratne took the reins as chief executive of NDB Bank, he unveiled the bank’s 'Transformation 2020' strategy to strengthen its corporate banking business. The plan, in consultation with the International Finance Corporation, aimed to improve policies toward small and medium-sized enterprises and the microfinance sector, and support businesses led by women.