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Privredna Banka Zagreb continues to be the leader of the banking pack in Croatia thanks to its popular combination of core banking services allied with specialist leasing, real estate and fund management capabilities. Its 230-strong branch network and extensive electronic distribution channels give it the leading position in the credit and debit card market and more than 77.5% of total transactions were carried out electronically.

Santander chairman Emilio Botín accepts the award presented to the bank 10 July – watch the video footage

IntesaSanpaolo, now the largest bank in Italy by market share, is having better luck with its integration of recent acquisitions than rival UniCredit, which has hit problems with management issues in Sicily and disgruntled HVB minority shareholders.

Morgan Stanley

Finland’s largest bank, Nordea, has total assets almost three times larger than second-placed Pohjola Bank and has enjoyed another successful year, with lending increasing from €42.4 billion in 2006 to €47.5 billion in 2007 and deposits increasing from €26.4 billion to €30.4 billion over the same period. Nordea made good use of its strong funding base in Finland that, combined with an increased interest level, gave the bank double-digit income growth.

"We’ve certainly seen some clients actively seeking out firms that have avoided the worst of the problems. I should say ‘there, but for the grace of God’... but the truth is, we’ve so far avoided massive write-downs and that’s allowed us to focus on our clients and their needs, and not have to be very focused on ourselves"

Highly populated Rwanda is an attractive environment for banks, particularly as the ethnic problems are beginning to recede. Banque Commerciale de Rwanda is the most innovative bank in the country, expanding its network and growing its products. "This has been a good year," says David Kuwana, managing director of Banque Commerciale de Rwanda. "We have opened two new branches, developed a mortgage product, and have grown our Western Union network."

BNP Paribas

BNP Paribas

Industrial and Commercial Bank of China (ICBC) now claims to have the world’s biggest market capitalization among publicly listed banks, reaching just under $339 billion at the end of 2007. That amounts to annual growth of 35%, just one of a number of impressive indicators of the bank’s recent development: it also recorded a 65% increase in after-tax profits for the fiscal year and a 16% increase in return on average equity. Although many of China’s banks found increasing deposits a reasonably straightforward process, ICBC also impressed with its efforts to diversify income streams. It increased net fee and commission income by 110% (admittedly from a relatively small base), and sale of wealth management products by Rmb1.234 trillion ($178.8 billion), a year-on-year increase of 182%.

"You should come to Beirut soon. The situation has improved a lot," Adnan Kassar, chairman of Lebanon’s Fransabank, advises Euromoney.

It is in times of market turmoil that the investment and commitment made by banks to their business lines over previous years become most apparent. For those banks that better dodged the sub-prime bullet, the past 12 months have afforded them this recognition. For these banks, avoiding the inevitable navel-gazing and restructuring to which less fortunate competitors have had to succumb has meant they can continue to do what they are supposed to do – focus on clients. Three banks on Wall Street stand out as having gained yet greater credibility as they navigated through the volatile market conditions and tightening credit environment that dominated the second half of 2007 and beginning of 2008: JPMorgan, Goldman Sachs and Deutsche Bank.