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LATEST ARTICLES
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BDO Unibank has worked on sustainable finance in the Philippines since 2010.
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BDO Unibank, the Philippines’ largest bank, turned in an exceptional financial performance in 2023, cementing its position as the country’s best bank.
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Citi saw impressive growth over 2023 with revenue growth of 16% year on year.
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OCBC wins the award as Singapore's best digital bank this year for enhancing its digital banking service through a series of initiatives designed to deepen engagement and improve the user experience across its platforms.
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Hana Bank accounted for 13% of system loans and 15% of system deposits in South Korea by the end of 2023. The bank enjoys a strong domestic franchise, particularly in corporate banking, which has driven a sustained improvement in profitability despite the challenging economic backdrop.
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Bank Syariah Indonesia (BSI) – established in 2021 following the merger of Bank BRI Syariah, Bank Syariah Mandiri and Bank BNI Syariah – is a leader in Indonesia’s shariah banking system. It had reached 19 million customers by May 2023, and is Indonesia's sixth-largest bank.
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For its range of initiatives and substantial investment in supporting social and environmental issues in the special administrative region, Bank of China (Hong Kong) wins the award this year.
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Citi secures the award for Korea’s best investment bank in recognition of its comprehensive range of activity across M&A advisory, debt capital markets and equity capital markets.
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In 2023, Citi saw operating revenues reach around ¥139 billion ($860 million) and total assets climb to ¥6,097 billion.
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Citi saw impressive growth across its corporate banking services in Hong Kong in 2023. It saw year-on-year growth in its loan portfolio and funded several significant environmental, social and governance (ESG) financing transactions.
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Cathay United Bank improved its digital customer service last year and employed artificial intelligence and big data tools to better understand its customers’ credit metrics. This resulted in record digital growth for the bank, with digital user penetration up by nearly 50% over 2022.
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RCBC launched its new RCBC Pulz digital banking app in 2023 and continued to support for digital inclusion.
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RCBC expanded its digital offering for small and medium-sized enterprises and saw impressive growth in the segment in 2023. The SME loans portfolio grew by 16.6% to P125.3 billion ($2.15 billion) over the year.
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Newly onboarded corporate customers at HSBC grew by 21% last year. It introduced Smartserve, which reduces the number of days required to open an account, and Omni Collect, which simplifies the way businesses collect payments.
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In 2023, HSBC saw its market share of foreign investment into Malaysia reach 30% of total assets under management, making it the leading custodian and clearing bank for foreign institutional investors investing in country’s capital markets. HSBCnet Get Rate, which provides its Malaysian customers with automatic preferential FX rates, was upgraded to allow 24/7 FX booking for companies with EU and US headquarters.
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HSBC grew profit before tax by 188% in 2023 to SLR38.2 billion ($126 million).
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HSBC had a good year in India in 2023, with profits up by 19% to $1.51 billion, from $1.27 billion the previous year.
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HSBC achieved robust growth in 2023 with net profit growing 26% to total $566 million, with growth coming from its commercial, wealth and personal banking businesses.
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Throughout 2023, HSBC expanded its presence in the mainland Chinese market, strengthening its operations and advancing strategic initiatives across many sectors.
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HSBC introduced initiatives to tackle parental leave, diversity in its hiring process and to improve support for its transgender employees in Hong Kong last year.
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In 2023, HSBC further solidified its position as Hong Kong’s best bank under the leadership of Luanne Lim, HSBC Hong Kong’s chief executive. HSBC Group’s market profit before tax soared to $10.7 billion, representing 80% year-on-year growth and contributing 35.3% to the group’s overall pre-tax profit.
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HSBC helped Singaporean companies like Next Gen Foods and Multiplier Technologies expand overseas in 2023. It also scaled up its support for local businesses expansion in the region by introducing a $1 billion ASEAN (Association of southeast Asian Nations) growth fund for digital platform businesses and a $150 million venture debt offering aimed at scaling high growth companies.
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OCBC had a busy 2023, launching new FX features, application programming interface (API) integration and improvements to its online platform.
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OCBC NISP proved an invaluable partner to its small and medium-sized enterprise clients in Indonesia throughout 2023 with the launch of its Nyala Bisnis 2.0 platform and initiatives to empower women-owned SMEs.
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For its mix of sustainable finance structuring expertise and innovation in retail banking, ING wins the award this year.
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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.
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In a tumultuous year for China’s investment banks, marked by a muted IPO market and stricter regulatory oversight, CICC has emerged as the undisputed leader. While prominent Chinese investment banks, such as Citic, have faced investigation case filings from the regulator, CICC has solidified its position at the forefront of the industry, particularly in the domestic M&A space.
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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.
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Bank SinoPac has long focused on initiatives to promote responsible and inclusive finance, primarily by channelling loans to small businesses. The total outstanding of such lending to small and medium-sized enterprises was NT$325 billion ($10 billion) at the end of 2023.
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Barclays wins the award as the UK’s best investment bank. Even though some investors had to wait for the bank’s investor day in February 2024 to hear it once again reaffirm its commitment to the investment bank, staff in the UK had no doubt of this.
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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.
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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.
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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.
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Barclays has integrated sustainability across its operations and financing activities, significantly reducing emissions and enhancing its commitment to green investment.
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Standard Chartered wins the award this year for making several key enhancements to its digital banking platform, supporting strong growth in customer sales and engagement.
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First Bank of Nigeria (FirstBank) wins the best bank for corporates award this year for its investment in digital, support of sustainability and the financial performance it has delivered.
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The fourth-biggest bank in Portugal, which has been fully owned by Spain’s CaixaBank since the end of 2018, saw an exceptional performance in 2023. After record results for the firm across the board, Banco BPI is clear winner of the award for Portugal’s best bank.
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Crédit Agricole CIB demonstrated its global capabilities and expertise in sustainability for Hong Kong clients last year, structuring and executing several transactional firsts as well as supporting the growth and development of the broader market.
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For its range and quality of corporate banking services, investment in digital, and financial performance, Kotak Mahindra Bank wins the award of India's best bank for corporates this year.
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Aditya Birla Finance Limited-Wealth wins this award for the quality and range of its investment research.
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BDO Private Bank wins the award as the Philippines’ best domestic private bank for the quality and range of expertise and services it provides to high net-worth individuals, families and entrepreneurs.
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For its impressive commitment to this issue in the country, DBS wins the award for Taiwan’s best for sustainability.
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DBS wins the award for Taiwan’s best international private bank in recognition of the quality of its services and its leading market position in the country.
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Julius Baer wins this award for the investment the firm is making in this core Asian market, as well as the global expertise it offers Indian clients.
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UOB Private Bank wins the award as the only foreign private bank operating onshore in Malaysia.
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UOB Private Bank wins this award for its commitment to and investment in supporting next generation clients.
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DBS wins the award for Singapore’s best domestic private bank for the second consecutive year in recognition of its regional expertise, as well as the strength and sophistication of its wealth management offering.
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DBS wins the award for its strength and innovative leadership in serving family office clients in Singapore.
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DBS wins the award for its expertise in succession planning.
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DBS wins this award for the strength and sophistication of its digital solutions.
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DBS wins this award for best international private bank in Hong Kong in recognition of the quality and breadth of its services and its distinctive regional expertise.
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Euromoney Private Banking Awards: Hong Kong’s best for family-office services: JPMorgan Private BankJPMorgan Private Bank wins the family office award thanks to the quality and range of products, services and advice it provides wealthy Asian families.
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Euromoney Private Banking Awards: Hong Kong’s best for philanthropic advisory: JPMorgan Private BankJPMorgan Private Bank wins this award in recognition of its expertise and global connectivity in philanthropic advisory and services.
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Julius Baer wins the award for Singapore’s best for high net-worth clients in recognition of the impressive range of expertise and capabilities it offers this key client segment.
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Euromoney Private Banking Awards: Singapore’s best international private bank: JPMorgan Private BankJPMorgan Private Bank wins the international private bank award for the power, range and expertise of its cross-business capabilities.
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EFG Bank wins the award for its differentiated private-banking offering.
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Caixabank Private Banking wins the award for best domestic private bank in Spain this year having demonstrated strong performance and launched important enhancements in many sectors.
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Carnegie Private Banking wins the Sweden’s best domestic private bank award for the second consecutive year for the growth, investment and development it has made across its private banking business.
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For its mix of global capability with local expertise and philanthropic efforts, JPMorgan wins the award for Sweden’s best international private bank.
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BPI Private Wealth wins the award for the Philippines’ best for the next generation based on its investment and commitment in educating of this key client segment.
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360 One Wealth wins this award for the all-round strength of its private banking and wealth management offering in India.
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Metrobank wins the award for the Philippines’ best for ultra-high net-worth clients based on the impressive quality of the services it provides to this key client segment.
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Bank of East Asia wins the award for the range of environmental, social and governance-related investment products it offers clients.
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For the quality and breadth of service it provides to family clients, BPI Private Wealth wins the award for the Philippines’ best for family office services.
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FortePremier wins this award in recognition of the quality and range of its private banking and lifestyle services in Kazakhstan.
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Ambit Global Private Client wins this award for its impressive performance in discretionary fund management.
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CICC wins this award for the strength and range of wealth management products and services it provides across the wealth segments.
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Euromoney has recognized the best in private banking worldwide for the last 20 years through our Private Banking and Wealth Management survey. This year, we have built on this experience to launch our first Private Banking awards. This new awards programme examines the industry in more depth, recognizing institutional achievement across all aspects of the business. The categories include high and ultra-high net worth, family office services, wealth transfer and succession planning, digital services, discretionary portfolio management and ESG investing.
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UniCredit entered the Covid-19 crisis flush with capital. That money was earmarked for dividends and share buybacks. So far, it has gone on frontloading loan write-offs.
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The investment bank profited in markets and capital raising, as acquisitions set it up for the future
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A history of patient investment meant Royal Bank of Canada was well-placed to navigate a turbulent year.
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Macquarie’s cherished reputation for being able to adapt to changing circumstances has been put to the test like never before by Covid-19.
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It’s easier to reach your destination if you know where you’re going.
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A drastic management overhaul will please some, but chief executive Charles Scharf still has much to do – especially after Covid-19.
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The transformation plan appears to be working and as the investment bank regains market share, Deutsche looks better set for the coming consolidation.
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The past year has brought new challenges for Crédit Agricole’s partnerships in products and distribution. But the wave of bank M&A sweeping Europe is also an opportunity – as its Creval deal shows.
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FAB’s status as a national champion means it is even better positioned after Covid-19 to facilitate regional growth.
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Covid-19 has hit the Spanish lender particularly hard, but the pandemic could spur a longer-term strategic shift.
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International business bails out the domestic struggle for MUFG.
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Every bank has had to balance Covid and geopolitics in 2020, but few have had it harder than HSBC
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The US firm is changing in subtle ways that are proving to be productive.
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Its cautious approach means the bank underperforms in some areas, but its management prefers it that way.
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The worst is over, but bad loans are back on the agenda at China’s largest lender.
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Inclusivity takes a back seat to pandemic preparedness in a tough year, but it remains on the agenda for the Chinese bank.
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Every bank wants to rebrand as a tech player, but few are aiming as high as Sberbank.
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The ICG managed price and counterparty credit risk well, but regulators see control deficiencies across the bank that they demand be addressed.
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The investment bank has proven its value in a tough year, but revenue stability is the challenge ahead.
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DBS has suffered, but its model looks well placed in this environment.
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Itaú Unibanco continues to outperform its peers in Brazilian banking, but its traditional competitors aren’t the real problem.
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Khara takes charge of a bank with unique challenges.
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After a year when credit markets propped up the financial performance of continental Europe’s biggest bank, concern remains about its credit risks.
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Banner year for CIB helps pay for big provisions, while bank sticks to strategy of investing for growth.
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Despite Covid, it was a good year for UBS and its outgoing chief executive Sergio Ermotti. Now it’s time for his successor Ralph Hamers to show his hand.
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Jean Pierre Mustier’s decision to leave UniCredit raises the alarming prospect of the crippled Banca Monte dei Paschi di Siena pulling down a much bigger and stronger Italian bank.
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Post-2008 accounting standards set aside capital for tomorrow’s problem loans today. In doing so, they rely on the judgements of the banks themselves. However, after Covid-19, European banks cannot afford to provision for write-offs in the same way as their US counterparts.