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Last month’s Global ABS conference in Cannes was shaping up to be more of a wake than its usual annual party as things in the market went from bad to worse in the first quarter this year. But speakers at the event in June were (not surprisingly, given what they do for a living) determinedly upbeat about the market’s prospects. "We come to praise Caesar, not to bury him," declared Clifford Chance’s Kevin Ingram in the opening panel.

"Redemptions at par"

The obsession about Goldman Sachs in the financial world – not least among its competitors – is nothing new.

While its big cousin in the north is experiencing a spot of financial bother, Latin America goes from strength to strength. When historians come to judge the past 12 months, they might well come to regard it as a watershed period for the region.

Citi The bank’s emerging markets business has excelled despite the tough conditions and Citi’s own troubles.

This time last year, Phil Green had plenty to smile about.

Russia is one of the most fiercely competitive banking markets in the central and eastern European region thanks to the continued strength of the domestic economy. State-owned banks such as Sberbank and VTB performed well over the past year as did foreign banks such as Raiffeisen and UniCredit. But Alfa Bank retains its best bank crown as a result of having the best-balanced universal banking franchise. Alfa is a force to be reckoned with right across the retail, corporate and investment banking spectrum, which means it is well placed to take full advantage of the buoyant economic conditions in Russia.

Crane Bank, headquartered in Kampala, has branches in Iganga, Jinga, Mbale, Lira and Gulu. It is a privately held bank so figures and research are hard to come, but what is clear is that its customers are generally satisfied. The bank claims to be the second largest in Uganda in terms of assets, second for return on equity, and third in profitability. It is a universal bank, offering retail as well as trade finance and investment banking. Crane Bank is another in the region that equity investors will be hoping will be encouraged to launch an IPO soon.

DnB Nor Bank is one of Norway’s largest banks and part of the DnB Nor Group, which also includes brands such DnB Nord, which has cut a dash across a number of markets including the Baltic republics in recent years. With a domestic market share of almost 30% in retail lending and deposits and a similar level of corporate deposits, DnB Nor Bank has an established position. But it continues to grow at an impressive rate: it recorded a healthy 18.6% rise in profits in 2007, largely as a result of higher volumes. Lending rose 17%, deposits grew by 12.9% and income by 9.6%.

TCI

Michael Philipp, chairman of Middle East and Africa at Credit Suisse, left the bank last month to set up his own business. His new, independent company will focus on investment management and advisory services in the region.

Abdul Aziz Al-Ghurair After taking over from his father, Abdul Aziz Al-Ghurair went against advice to put his own vision in place.