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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

Malaysia

Under the leadership of president Khairussaleh Ramli, Maybank has exceeded the broader industry performance and achieved several milestones this year, for which it receives the award for Malaysia’s best bank. With total assets exceeding RM1 trillion ($212 billion) and a remarkable 17.5% rise in net profit to RM9.35 billion in 2023, the bank has grown while delivering record dividend payouts. Profit before tax was up 5.6% and return on equity rose to 10.8% from 9.6% in the previous year.

July 19, 2024

Belgium

The Belgian government’s retail bond programme last year, which pressured lenders to raise deposits, was just one element of a relatively tough environment for banks in Belgium. The country also sits at the opposite end of the spectrum to southern Europe in terms of the proportion of loans on floating-rate deals, meaning local banks benefit less from higher eurozone interest rates.

July 19, 2024

Albania

Raiffeisen Bank is Albania’s best bank this year in recognition of its retail, corporate and treasury banking services, and its strong financial performance during the year. This was demonstrated across product and service enhancements in its main three banking businesses.

July 19, 2024

Lithuania

Lithuanian banks successfully shrugged off a stagnating economy and the government’s windfall tax last year to double net profits.

July 19, 2024

Treasury

Commodity hedging on the rise as elevated prices persist

The disconnect between global economic growth and commodity prices is focusing treasurers’ minds on hedging exposures to everything from cocoa to cobalt.

Paul Golden, July 18, 2024

Opinion

US regional bank stocks surge while CRE risks grow

S&P’s regional bank index has just pushed past its March 10, 2023, level, reflecting where these stocks were immediately before the collapse of SVB last year. Those stocks are rising sharply and investors are seeing huge profits, so is this a sign that regional banks have finally emerged from their crisis?

Rob Dwyer, July 18, 2024

BANKING

HSBC’s Georges Elhedery: Lucky man

HSBC’s choice of a new CEO to replace Noel Quinn was long flagged. Elhedery’s fortune is to be handed the reins of power in an extended period of calm for the UK lender, which benefited immensely from Quinn’s calm stoicism. But deteriorating Sino-US relations mean that turbulence for the London- and Hong Kong-listed lender is sure to return.

Elliot Wilson, July 18, 2024

Treasury

HSBC’s big bet on trade finance

The bank is targeting the often-overlooked service sector with structured solutions, along with identifying embedded finance as a fast-growing segment. With the launch of Global Trade Solutions, it goes beyond traditional product offerings and financing.

Larissa Ku, July 17, 2024

CAPITAL MARKETS

Temasek bets big on India as it steps back from China

The Singapore state-owned fund has unveiled plans to invest $10 billion in India and to plough more capital into the US and Japan. At the same time, it is quietly retreating from China, once its largest investment market, but now beset by underperforming capital markets, weak growth and bleak consumption data.

Elliot Wilson, July 17, 2024

Opinion

The future for China’s banks is in São Paulo, not Shanghai

President Xi Jinping’s ‘great rebalancing’ is creating a two-speed China: one a stodgy economy; the other full of export-focused corporate superstars. To serve the latter, China’s banks must invest overseas by buying assets or opening branches – and they need to do so fast.

Elliot Wilson, July 17, 2024

Opinion

Why Dickson’s jump from Citi is a great move for him

Tyler Dickson’s departure from Citi must rank as one of the most predictable moves in investment banking this year, even if where he has ended up is perhaps less obvious. Elsewhere, Citadel Securities is apparently set to make an offer that some of the Street might find difficult to refuse.

Mark Baker, July 12, 2024

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