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Chinese banks have not had an easy ride in recent years. Faltering economic growth, muted domestic demand, tight Covid restrictions and growing scrutiny from regulators have forced them to hunker down and work as best as they can.

Hana Bank wins this award for not only growing at a faster rate than its competitors but also for doing so in a way that doesn’t endanger its franchise in the long run.

July/August 2023

BNP Paribas is the world’s best bank and Morgan Stanley is the world’s best investment bank in Euromoney’s Awards for Excellence 2023. Christian Sewing, chief executive of Deutsche Bank, is named the banker of the year.

Latin America saw increased interest from many different types of acquirers in the past year as volatility elsewhere boosted the relative attractiveness of the region’s economic, legal and regulatory frameworks.

The region's best banks, country by country

If an organization in Latin America – corporate, sovereign or multilateral – wants to raise finance, Citi will invariably be part of the conversation. The bank’s financing team, led by Adrian Guzzoni, head of debt capital markets for Latin America, and Marcelo Millen, head of equity capital markets for Latin America, has shown that Citi’s ability to access local and international sources of funding and to present options spanning debt, loans and equity is a compelling proposition for finance departments across the region.

BNP Paribas’s sustainability strategy for Latin America continues to mature, underpinning the bank’s strong position across the continent. The bank has made considerable efforts to deepen its focus on the three most important sustainability issues in Latin America: protecting biodiversity, promoting social development and decarbonizing hard-to-abate industries.

Banco Pichincha has been developing several strategies to boost social inclusion and improve gender dynamics in Ecuador. The bank now has an impressive portfolio of projects that fit under the corporate responsibility banner.

The retrenchment that Citi has made in the retail markets of central America has clearly not impacted its dominance of corporate and investment banking in the region. It wins the award for central America’s best investment bank again this year.

There is no better wealth manager in Latin America than Banco Santander. It won the award for best private bank in Latin America in Euromoney’s 2023 private banking awards.

It is tempting to conclude that Citi’s impressive suite of treasury management services, for which it wins the award of Latin America’s best bank for transaction services, is the result of the bank knowing that it really needs to excel in this area. Given the growth strategy being pursued by chief executive Jane Fraser, which has seen the bank pull out of many retail banking markets to focus on corporate and investment banking, a market-leading transaction services offering is imperative.