Proponents of banking-as-a-service will be hoping that UniCredit’s decision to acquire Aion Bank and Vodeno marks a turning point in a sector that has experienced considerable volatility.

New institutional investors are providing liquidity to longstanding Revolut employees and giving a valuation proof point to its stunning revenue and profit growth.

National champion banks should worry that the latest surveys commissioned by the Competition and Markets Authority might prompt loss of more primary accounts.

Bank of Cyprus’s decision to shift its listing back to Athens also shows how far Greece has recovered.

Buying Axa IM would be BNP Paribas chief executive Jean-Laurent Bonnafé’s biggest acquisition. It has been a long time in the making.

Alongside UniCredit’s recent acquisition of Polish financial technology company Vodeno, the US private equity takeover of VeloBank is another sign of renewed optimism in Poland.

Revolut is strongly profitable while growing fast, diversifying revenues and finally being admitted to the banking club. Watch out.

The role of Mediobanca adds to the similarities between BBVA’s hostile bid for Banco Sabadell and Intesa Sanpaolo’s takeover of UBI Banca in 2020. But there are stark differences of institutional character, politics and timing.

Wholesale banking head Andrew Bester explains the renowned retail bank’s ambition to win new revenues building on its expertise in sustainable finance.

Political instability in France, coupled with better EU-UK relations, could threaten Paris’ ability to rival London as a financial centre. But a focus on institutional clients among French and other EU banks is already helping London’s resilience – a trend that shows little sign of abating.

UK pension schemes have made clear their opposition to reduced investors protections, while the FCA may come to regret pushing through its new listing regime.

Banks are refining their single-dealer platforms to replicate the price comparison benefits of the multi-dealer model while accentuating the former’s unique features.

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.

In recognition of multiple market-leading developments in its banking business and an impressive financial performance last year, maib is Moldova’s best bank.

Under the steady leadership of chief executive Kjerstin Braathen, Norway’s biggest bank continues to perform strongly and is far from relaxing its efforts just because of its size. DNB faces an surprising array of competition in such a small market, with more than 100 banks operating in the country, but its progress ensures it remains Norway’s best bank for another year.

It is hardly surprising that an Italian bank should excel at lending to small and medium-sized enterprises, which are the backbone of the industrial strategy of the country. SMEs are at the heart of UniCredit’s UniCredit per l’Italia strategy, which has seen a further €10 billion of support extended to individuals and corporates this year – including a special assistance package for Emilia Romagna in May in response to widespread flooding.

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.

International banks inevitably capture a large share of international debt issuance from Poland, notably the sovereign and large commercial banks. But Trigon remains a national success story in investment banking as a purely Polish and private-sector player. It has a large local team that includes one of the country’s most extensive equity research capabilities.

After being knocked back by Russia’s invasion of Ukraine, Kazakhstan’s economy rebounded last year, notching up over 5% growth on strong levels of consumer and public spending.

French banks have not had the net interest margin bonanza that higher interest rates have offered many southern European banks recently. In fact, some French banks saw profit decreases in their domestic retail divisions last year, while areas like markets and vehicle leasing have been less of a support to group profit compared to the immediate post-pandemic period.

In 2023, central and eastern Europe’s M&A markets held up relatively well, with a total deal value of more than $30 billion according to Dealogic. Lazard, CEE’s best bank for advisory, was involved in many of the most important advisory situations in the region.

For many banks, sustainable finance is about more than just finance, it is about the quality of advice they provide and what they themselves are doing to be more sustainable.

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.

In investment banking, the biggest event of the year was the €2 billion IPO of Hidroelectrica in Romania, Europe’s biggest IPO in 2023. This was Romania’s largest-ever IPO and played a role in reopening the market across the continent, thanks to a strong performance in the secondary market. It also helped reawaken the international capital market to the opportunities in central and eastern Europe.

The M&A advisory rankings for 2023 tell a familiar story in western Europe. JPMorgan and Goldman Sachs rank top both by revenue and by deal value. But Rothschild & Co advised on almost twice as many transactions as either of the bulge bracket pair and it maintained its third place in the revenue league table ahead even of Morgan Stanley.

Presenting annual earnings in early February 2024, Frank Vang-Jensen had good reason to be delighted with the 2023 performance of the bank he leads as chief executive. After another year in which Nordea strengthened its profile in all four of its main markets, including performing strongly in its home country, the bank again wins the award for Finland’s best bank.

Barclays has integrated sustainability across its operations and financing activities, significantly reducing emissions and enhancing its commitment to green investment.

By far the biggest bank by assets in the country and boasting nine million account holders, ING is also the best bank in the Netherlands this year.

DemirBank is Kyrgyzstan’s best bank in recognition of an impressive performance last year.

Banca Intesa Beograd had standout year in 2023, launching a number of key initiatives and delivering another set of record results.