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Citi wins this award in part because it was so successful in securing a role for itself in the region’s big Spac deals. The US bank completed 11 M&A transactions in the year to the end of March 2021, worth a total of $53.3 billion, according to Dealogic data, for a 37% market share.

Standard Bank is once again a worthy winner of the award for Africa’s best bank for wealth management. It offers wealth management services in southern, eastern and parts of western Africa – 15 countries in all, including South Africa, Nigeria and Kenya.

Morgan Stanley retains the advisory award after leading the field in Asia Pacific by volume, deal count and regional diversity. Dieter Turowski is chairman, investment banking at Morgan Stanley Asia Limited.

An unrivalled regional network presence, commitment to innovation and consistent support for clients during the pandemic earn Citi the award for CEE’s best bank for transaction services.

Transaction services was affected by the pandemic in two significant ways. One was on the cash management side, where there was a forced acceleration of digital initiatives and of their take-up by corporate clients. That was interesting, but by and large it was happening anyway.

No other wealth manager comes close to competing with UBS for this award. Again, the Swiss banking giant demonstrated its commitment to the region. During the awards period, it relocated its Dubai office to the heart of the Emirate’s financial district and opened a new wealth management office in Doha. UBS aims to hire about 20 people in Qatar by the end of 2020, but it has already made its biggest personnel move, bringing Tarek Eido from HSBC to oversee its onshore wealth business. Eido will report to head of wealth management, Middle East and Africa, Ali Janoudi.

BAC International Bank is simply the biggest and most profitable bank in central America and the Caribbean. Across the region it has 311 full service branches, 11 in-store branches, eight digital branches and 43 drive-through agencies – and it also has the largest ATM network, with more than 2,000.

For small and medium-sized enterprises the year of Covid presented the same challenges as it did to their bigger corporate cousins, only the scale was different. Sometimes they needed help to survive; at other times they need help to thrive.

BAC International Bank has been serious about corporate responsibility for many years. In February this year the bank joined the United Nations Environment Programme Finance Initiative, complementing its longstanding commitment to the UN’s Sustainable Development Goals. BAC has now reached over one million people in central America with its financial education programme and has supported over 120,000 SMEs throughout the region with training, development and network initiatives.

In terms of deal volume, during the qualification period for these awards there was little daylight between the top two banks, Citi and JPMorgan, in debt financing. However, Citi pipped its US rival this year for being the bank that reopened the region for debt financing after the Covid-19 deep freeze.

UBS performed strongly again in Euromoney’s global private banking and wealth management survey in 2021. It topped the western Europe regional rankings for: best private banking services overall; serving mega high net-worth clients worth more than $250 million; family offices; business owners; and high net-worth clients with $5 million to $30 million to invest.

It was yet another impressive year for HSBC in sustainable finance. At a global level the bank is committed to net-zero on carbon emissions. At a regional level it has a team of 39 staff, led by its head of sustainability, Europe and the Middle East, Sabrin Rahman. They engage with clients on ESG, sustainable finance and transition strategies.