World's best bank: Other European banks may be quitting the US, but it remains an important contributor to BNP Paribas’ revenue stream.

World's best bank: BNP Paribas is that rarity – a large bank actually delivering on its promises to stakeholders. It is producing better returns even than many of the US banks, despite being anchored in a low-growth home region, building capital and winning customers – all while proving the benefits of a diversified business model. Its cadre of loyal, long-serving senior executives look to have got the strategy right: staying the course in Asia and the US and running global customer franchises, but only in the select services it excels at.

Putting digital priorities at the heart of what a traditional bank does is easier said than done. At Singapore’s DBS, actions are speaking louder than the words of its rivals

Only excellent bank management teams can satisfy shareholders, regulators and customers all at once today. BNP Paribas has one of the very best.

Creating a platform that provides a coherent global service while keeping distinct regional variations has rewarded Citi with a year of further success in transaction banking.

“Your reputation is what your competitors say about you when you leave the room”

BNPP’s latest strategic update for its corporate and institutional bank might have fallen short of the expectations of a market now used to the wild lurches of rival European firms, but to dismiss this as mere tinkering would be a mistake. It builds on an already bold and long-held plan. And, crucially, it is one the bank’s leaders say they can afford.

The acquisition of Smith Barney from Citi was far from the obvious play for Morgan Stanley in 2008. Now, it looks like a masterstroke.

Morgan Stanley’s investment bank is on a roll, helped rather than hindered by the addition of a leading wealth management franchise. It is now a unique proposition, and the markets and clients are taking notice.

Regulatory blessing for capital return highlights the increasing faith in Citi under the leadership of Michael Corbat.

Barclays was intrinsically involved in the big events and deals of an extraordinary year for debt markets.

Citi is the last global wholesale bank offering all products to its clients everywhere. It operates in 100 countries and boasts a payment system handling $3 trillion of transactions a day, which no other bank is ever likely to emulate. It has taken the axe to its global consumer business, but still operates in 24 countries. Under the leadership of Michael Corbat, Citi has closed the share price discount to book value. It must now prove that a global universal bank can avoid the pitfalls of scale and deliver sustainable returns. If it does, it will be the only one

Under the leadership of James Gorman, Morgan Stanley has carved out a unique position in global banking. It remains a great investment bank. Its much-maligned FICC division now looks fit for purpose. And its US wealth management arm gives the firm new stability and strength. Most important of all, the disparate parts of a once-divided business are delivering the benefits of the whole firm. And the markets are starting to realize the potential of a new Morgan Stanley as well.