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LATEST ARTICLES
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The bank has cleaned up its books, closed branches and improved its cost-to-income ratio. It also paid its first dividend since 2008.
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The bank is willing to spend its considerable technology budget on both exciting new ideas and on existing services that improve the lives of its customers.
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Public-sector clients had to tackle rising rates and geopolitical uncertainty in 2023, while undergoing fundamental restructuring in their sector. HSBC was instrumental in guiding them through the uncertainty.
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After depositors fled the wreckage of the US regional banks in 2023 and customers started jumping overboard from a sinking Credit Suisse, even more banks could have been dragged into a systemic crisis. But UBS, rebuilt after the global financial crisis as a strong, sustainable and well-managed institution, responded to the rescue call from a fellow G-Sib. It rescued Switzerland as a financial centre, stopped the panic from spreading and struck a good deal for its own shareholders. Credit Suisse was not a gift. The integration will be tough. But UBS has got off to a good start and could soon relaunch its own growth story.
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The bank is leveraging all its resources to reach six million individuals by 2025. It is well on its way.
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Societe Generale has accelerated its transition and is using important mandates to convince its internal and external audiences alike.
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It is not enough to have the data, banks also need to bring intelligence and financial analysis to bear in sustainable finance to keep progressing.
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The bank’s 10-year ScotiaRise programme has gone from strength to strength, reaching out to indigenous communities and aligning with its truth and reconciliation committee’s work.
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As balance sheet pressures have intensified, Morgan Stanley has been at the forefront of a changing financial sector landscape.
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The bank says it is succeeding with Open Account Automation, the first module of a long-term initiative to digitize trade finance through new platform CashPro Supply Chain Solutions.
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Goldman is transforming its provision of research and insights to make it much easier for investors to form trade ideas.
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It is in difficult times that the best franchises prove their mettle. JPMorgan’s formidable corporate and investment bank – now bolstered through its integration of commercial banking – was the one to beat over the last year. No rival can match its breadth, but the firm’s rejection of complacency means that it never stops improving.
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Andrea Orcel’s long-awaited debut as a bank chief executive has won over the markets, largely thanks to capital returns. But his plans for UniCredit go far beyond balance-sheet management and costs. He now sees a chance to demonstrate growth.
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The bank’s chief executive has led from the front to create an institution that is more diverse and better reflects the society in which it works.
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The bank's ability to offer a full set of services almost everywhere around the globe sets it apart from the competition.
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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.
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Focusing on its core strengths has helped Deutsche Bank serve corporate clients amid intense geopolitical, technological and environmental challenges.
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In tough markets, changes in banks’ market share can be particularly telling. Mergers and acquisitions had another down year in 2023, with total volume falling to $3.13 trillion, from $4.3 trillion in 2022, when rates first started rising, and $5.7 trillion in the post-Covid boom of 2021.
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A regional SME champion shows how to operate on the world stage.
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Few banks have navigated turbulent times so well, posting record revenues on the back of strong net inflows and rising markets.
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The bank has become a global payments powerhouse, delivering innovation and outperformance.
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With a chief executive pushing sustainable finance from the very top, HSBC is leading from the front in the global banking industry’s response to the climate emergency.
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The French bank has made steady progress in this business over the last decade and last year was a strong period of new mandates and client expansion.
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The ability to work seamlessly across markets and asset classes paid off for the US firm in a challenging year.
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HSBC continues to lead from the front as trade finance reinvents itself.
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A bank’s sustainability strategy cannot exist without high-quality data. UBS has made it its mission to source the best.
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Citi’s refocused strategy is bearing fruit as growing corporate balance sheets position it for business.
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The growing weight of non-European markets speaks volumes about the Spanish bank’s EM capabilities as other global banks have headed for the exit.
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The past year posed extraordinary financing challenges for the world’s corporates. However, the political and economic conditions they faced also created an opportunity for creative banks to thrive.
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The tokenization of real-world assets is spreading fast, requiring the leaders of traditional finance to respond.
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From small-scale asset financing to innovative technologies, the French bank understands what a credible transition plan looks like.
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Citi’s securities services business has put in an excellent year both in terms of new business and digital innovation.
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The Singapore bank has strengthened its proposition to serve under-represented communities and aligned its own lending operations to make an impact.
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The US firm provides the right strategic advice for volatile markets.
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Citi’s crown jewels sparkle in a record-breaking year for the business.
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In the US, JPMorgan has 55 dedicated private banking offices, from Austin to Seattle, and Cincinnati to Fort Lauderdale. Elsewhere, it focuses heavily on serving high and ultra-high net-worth customers in Europe, where it has eight offices, including the UK and Germany, Asia, through Hong Kong and Singapore, and Latin America, with clients served out of Miami, New York and Switzerland.
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The US firm stood out for its response to volatility and ability to think ahead.
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After reorganizing its fixed income business and boosting its presence in equities, BofA is making a bid to become a dominant force in global markets.
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Recent volatility has proved that crisis preparation is the key to success in banking.
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Public-sector receptivity to innovation in sustainability and tokenization helped HSBC show the markets a glimpse of the future of bonds.
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Veteran Morgan Stanley investment bankers describe this as the busiest downturn they have ever seen. That is because they have worked on the biggest and most transformative deals in 12 months of shifting values and at times paralyzing uncertainty. The firm has made some cuts, but its new leaders are shaking the business up and bringing in the talent that will be in demand once markets settle.
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BNP Paribas has a well-earned reputation for steadiness and stability. In the past year, its chief executive, Jean-Laurent Bonnafé, has also reinforced his strategic credentials with the bank’s well-timed exit from its US retail business. Today, the bank stands as the eurozone leader on the global stage and is ready to play a pivotal role in the continent’s financial development.
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The bank is prepared to make tough decisions to meet its sustainability targets.
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The Spanish lender continues to demonstrate the business case for inclusivity.
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The US bank prides itself on already looking like the world we live in.
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A massive budget and a focus on in-house development have made the bank a digital innovator.
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Christian Sewing has turned Deutsche Bank around. The firm has a resilience now that would have seemed unlikely when he was appointed chief executive five years ago. By his own admission, some of the toughest work is still to be done. But the past year and the most recent banking crisis have provided a striking validation of the strategy he set in place.
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Servicing demanding SME clients pays off if you take the long-term view.
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Hamburg Commercial Bank is almost unrecognizable from its former incarnation as one of Germany’s most troubled state-owned banks. Now in private hands, it is proving that even legacy banks in the most sheltered parts of European finance can become dynamic and profitable institutions.
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The bank has achieved growth by extending its traditional private banking services to the mass affluent segment in Brazil.
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The French bank has been busy with landmark deals and financial innovation.
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The French bank is not only effecting internal change but is also using itself as a catalyst for wider transition.
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The businesses for which Goldman Sachs is most renowned dominated investment banking last year – but so much else is going on. The firm is enjoying the pay-off from a long effort to expand middle-market coverage and has successfully built a transaction banking platform from scratch that it can now scale up.
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The US bank’s leadership on diversity is based on its commitment to transparency.
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Banks must be able to demonstrate their ability to give the right advice in both good times and bad. Morgan Stanley shows how it is done.
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The French bank has long had global scale in fixed income, now it has the same ambitions for its equity franchise too.
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The global wealth expert has expanded its vision, horizon and profits this year
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Not content with consolidating its position at the top of the SSA rankings, JPMorgan is increasingly working with public-sector clients in frontier markets.
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From energy transition to Libor transition, the French bank is the go-to firm for many corporate clients in a time of flux. This is the result of longstanding relationships and new investment in core sectors of the franchise.
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The bank is successfully exporting its SME expertise and advanced financial technology across Asia.
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The financial inclusion skills within the bank are becoming more relevant for broader retail banking.
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The firm’s strategic focus on mid-market transactions gave it a critical advantage in a banner year for M&A.
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Investments in new industry sub-sectors have given Goldman Sachs’ financial institutions franchise a new growth engine.
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New layers on strong foundations have built enduring success in digital for the US firm.
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The Malaysian bank has a number of programmes to help the underprivileged across nine countries.
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The drive to make finance sustainable relies on robust data. This is something that the French bank has been working on for a decade.
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HSBC has long dominated global trade finance but has also been at the forefront of digital innovation this year.
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Under the leadership of Brian Moynihan, Bank of America has become the poster child for stakeholder capitalism in banking. Shareholders benefit; previous strong underwriting and ample liquidity enabled it to grow loans strongly in the pandemic recovery; and management is confident it can weather the coming downturn.
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DBS has taken the boldest step yet in digital DCM, encouraging corporate and financial borrowers to self-issue commercial paper direct to investors. Volumes are strong. The next step, longer-dated bonds, will come soon.
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Network and scale make all the difference in a business where cost pressure is intense.
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Unbeatable data drives everything behind CashPro, and the platform drives payments and treasury at Bank of America in turn.
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The bank’s commitment to Asia’s frontier markets is yielding strong results.
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The Singapore-based lender has established a new benchmark for SME banking
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The Spanish group’s retail footprint makes it uniquely qualified to address unbanked, underbanked and financially vulnerable individuals.
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In a period of unprecedented volatility and disruption, Goldman Sachs has led the field in innovative financing solutions for clients.
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A flurry of new services, including DBS Digital Exchange and Climate Impact X, have kept the Singaporean lender in pole position.
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A firm famous for its elite connections, aggressive corporate culture and extreme working hours might not seem an obvious candidate for this award, but it is the right one.
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Diversification and a more relationship-focused approach to clients helped Goldman Sachs grow its markets business more than any of its big rivals over the awards period.
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The French bank’s innovative and collaborative approach to data is central to its sustainable finance strategy.
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It’s a sign of a well-run bank when it not only survives a pandemic largely unscathed but uses it as an opportunity to gain ground. Characteristically, DBS’s Piyush Gupta not only kept the bank on course but used the crisis to make two potentially transformative acquisitions, launch two new exchanges and think afresh about what banking should look like.
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In a year when the race to net zero really got under way, biodiversity protection rose to the top of the agenda and Covid exacerbated the need for social support, one bank stood out for innovation, breadth of coverage and rigorous use of data
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Bank of America’s integrated and pioneering approach to corporate responsibility has paid off again this year.
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The firm leads in big, transformational M&A and sees advising on the sell side of Spac mergers as a hedge if regulators crack down on mega-deals.
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Technology keeps BofA at the vanguard of payments. Covid-19 drove both deposits and innovation at the US bank.
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Financial innovation of the year 2021: EIB shows how security tokens may transform financial marketsEuromoney’s inaugural award for innovation goes to a groundbreaking issue of digital native tokens on a public blockchain in a syndicated bond deal that drew interest from 100 investors. While institutional money flows into crypto and DeFi, leading banks and issuers are now also keen to transform traditional markets with digital assets and digital cash.
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Renowned for its prudence and conservatism, the bank was in a strong position going into the pandemic. Investment in digital banking and risk management make it well placed to thrive once the crisis is over.
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The great financial innovator shone again in global wealth management.
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In a tough year, quality and quantity mattered to the public sector. BNP Paribas offered both.
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After merging with Bankia, CaixaBank has become the undisputed champion of Spanish retail banking. At a time when the sector is facing profound challenges, it’s already on the way to realizing crucial cost savings. Euromoney talks to executive chairman José Ignacio Goirigolzarri and chief executive Gonzalo Gortázar about this transformational merger.
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The US bank has turned pandemic-inspired strategic conversations with companies into mandates.
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A full range of best-in-class products, strong advisory capabilities and global reach are more important than ever in post-pandemic corporate banking.
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Strength in equity capital markets and M&A, as well as a close relationship with the bank’s tech team, has created a winning formula this year.
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The bank is keen to get started on taking the tough decisions needed to achieve net zero.
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Under the leadership of James Gorman, Morgan Stanley has reshaped its business mix in ways that it thinks will position it for a world in which its clients need more connectivity than ever. Driving that process in its investment bank is co-president Ted Pick.
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JPMorgan was not the only bank that came into the Covid crisis with a strong balance sheet, but, as in 2008, the bank has shown that its diverse business lines and fortress balance sheet are what distinguishes it from the pack.
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As the world’s financial markets went into crisis in 2020, Citi showed it had the capital strength and global reach to keep its clients in business
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The firm didn’t foresee the coronavirus crisis when it decided to pivot its investment bank more explicitly towards clients than ever before. But as so often, its timing could not have been better
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Wholehearted commitment and revamped leadership have helped Barclays find a new vigour in its markets division.
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Across every sector and region HSBC stands out for its commitment to developing partnerships and products that will bring finance at scale to create a more sustainable and resilient planet.
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The Swiss bank stands apart from its peers. It helped its clients profit, both in the serene waters of 2019 and in the wake left by Covid-19 as it spread across the world in 2020
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With its unique model of direct lending to microfinance institutions and bringing large investors to the table, BNP Paribas has put financial inclusion at the heart of its agenda.
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Covid-19 has not simply accelerated the push to digital but has also changed the nature of transaction banking itself.
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Even during Turkey’s recent economic turbulence, Akbank has maintained its commitment to innovation and has been the standout private-sector lender in the country.
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It was not the only bank that came into the Covid crisis with a strong balance sheet, but, as in 2008, the bank has shown that its diverse businesses provide plentiful earnings to take big reserves, even while it keeps financing large corporates and small businesses alike. Deposits have flooded in, technology investments have proved their worth and it is winning more business from mid-cap clients inside and outside the US – and it coped with the temporary absence of a legendary chief executive.
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Whether on Covid-19, systemic racial inequality or climate change, Bank of America’s CEO has demonstrated how the financial industry can respond on every front – and why stakeholder capitalism is not only needed but works
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As financial institutions bolster their balance sheets and business models after Covid-19, Morgan Stanley retains a franchise to which others can only aspire
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Covid-19 has given the Spanish bank an opportunity to demonstrate the advantages of a global SME franchise, even for clients without international operations.
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In big, complex M&A deals, the firm’s main challenge is which side to work for.
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Thomas Gottstein looked uncertain when stepping up to succeed Tidjane Thiam in February, but his response to the pandemic, including a scheme with the government, central bank and other lenders to save Swiss SMEs, demonstrated why he was appointed. He is now reshaping the bank Thiam handed over to him.
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Its reincarnation as a sensible corporate bank is still a work in progress, but Deutsche’s achievements so far deserve recognition.
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Using its balance sheet to help the transition to net zero emissions, racial equality and economic mobility, while supporting employees through Covid-19 and assisting communities in all markets it operates in, Bank of America has put corporate responsibility at its core.
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Citi’s scale across the emerging markets is unrivalled, and its investment bankers have been successful in playing to that strength throughout the last year.
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Shenzhen-based Ping An Bank didn’t tweak the rulebook when it set out in pursuit of a better digital strategy. Instead, it tore it up and began again. The Chinese bank’s plans have worked beyond all expectations.
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The breadth and ambition of Santander’s diversity and inclusion programmes set it apart from its peers globally.
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The curtain is about to fall on one of the great Indian banking careers, so it is an appropriate moment to recognize the work of Aditya Puri at HDFC.
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In a global health pandemic set to cost governments across the world billions of dollars, public-sector clients need a bank they can rely on to deliver uninterrupted access to funding.
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The new chief executive of HSBC had announced a big cost-cutting programme just before Covid hit. He was smart enough to pause it and encourage local staff around the world, even in locations where the redundancies were set to fall, to back their customers with quick loan decisions. Noel Quinn discusses the bank’s impressive response.
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BNP Paribas has shown itself to be a bank for global corporate clients of which Europe can be proud.