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Africa’s best bank for SMEs: Bank of Africa

Morocco-based Bank of Africa boasts a long and storied history as a leading lender to regional small and medium-sized enterprises. Last year, it secured a €50 million credit line from the European Bank for Reconstruction and Development to increase financing for SMEs across the continent.

July 19, 2024

Uganda

Stanbic Bank Uganda (SBU) turned in a strong performance over the review period. Net profit was USh421 billion ($110 million), up 18% from USh357 billion in 2022. Net loans increased to USh4 trillion, while deposits ended the year at USh6 trillion, both up 3% on 2022.

July 19, 2024

Bosnia and Herzegovina

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.

July 19, 2024

Bangladesh

In a difficult economic landscape, Eastern Bank has once again proven its mettle, delivering impressive growth and financial performance in 2023. The bank’s net profit surged by 19.6%, while its assets rose by 11.5%. This is particularly noteworthy considering the high base set in 2022. Return on equity improved to 16.3% from 15.5% in 2022.

July 19, 2024

Japan

MUFG, Japan’s largest bank, had an excellent financial year in the 12 months to March 2024, setting new records for the group.

July 19, 2024

Taiwan

CTBC Bank has cemented its position in Taiwan’s best bank over the past year. Driven by its dual track digital innovation and environmental, social and governance (ESG) based transformation, the bank achieved a record net profit of NT$41.3 billion ($1.3 billion) in 2023, with a cost-to-income ratio of 55.16% and a return on equity of 11.9%, the highest among its peers. Revenue and pre-tax profit grew by 16% and 12%, respectively.

July 19, 2024

Mauritius

Mauritius Commercial Bank (MCB) had another good year in 2023 and is again the best bank in the country for the review period.

July 19, 2024

Croatia

Croatia’s entry into the euro in January 2023 was a landmark event for the country’s banking sector, which is dominated by banks from elsewhere in the European Union.

July 19, 2024

Awards for Excellence

North America’s best bank for sustainable finance: Bank of America

Nearly all banks today make claims to be helping to save the planet in one way or another. One that has consistently done more than most when it comes to shifting the balance within the financial services industry is Bank of America, and it wins the award for North America’s best bank for sustainable finance.

July 19, 2024

Moldova

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

July 19, 2024

Awards for Excellence

The US’s best bank: JPMorgan

If there was ever a time that demonstrated JPMorgan’s credentials as the country’s best bank, it was the crisis in March and April 2023 when US regional banks suddenly faced a balance sheet reckoning triggered by the rapid change in interest rates.

July 19, 2024

DR Congo

The banking sector in DR Congo is undergoing transition. The central bank has proposed new ownership requirements for banks in the country, stipulating that they must have at least four unrelated shareholders. At the same time, large banks outside the country, such as Kenya’s KCB and Equity Bank, are eyeing the market as a potential growth opportunity – hardly surprising when less than a third of the DR Congolese population has a bank account.

July 19, 2024

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