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Heath Lambert pulls out of merger discussions with JLT

Albania I Belarus I Bosnia & Herezegovina I Bulgaria I Croatia I Czech Republic I Georgia I Hungary I Poland I Romania I Russia I Serbia I Slovakia I Slovenia I Turkey I Ukraine In Slovakia, Erste Bank’s Slovenska Sporitelna and Banca Intesa’s VUB continue to slug it out for the top spot in the banking sector. It’s a photo finish between the two. Slovenska Sporitelna’s net income last year was $120 million. VUB’s was $119 million. VUB’s cost-income ratio was 56%. Slovenska Sporitelna’s was 55.5%. VUB is rightly proud of its consumer finance division, called CFH, which helped increase the bank’s retail loans portfolio by 60%. But we’ve chosen to give it to Slovenska Sporitelna, because it made more money, has a slightly better return on equity, and a leadership position in asset management and leasing.

Denmark I Estonia I Finland I Iceland I Latvia I Lithuania I Norway I Sweden “For once we are firing on all cylinders,” is how Magnus Carlsson, head of SEB Merchant Banking, describes SEB’s performance over the past 12 to 18 months. Although all leading Swedish banks have performed well during that period, SEB’s results have continued to support the bank’s impressive transformation in recent years. In 2005, SEB delivered a record operating profit of SKr11.2 billion ($1.52 billion), up from SKr10 billion in 2004. Earnings per share rose from SKr10.83 to SKr12.58, and return on equity from 14.7% to 15.8%.

Australia I China I Hong Kong I India I Indonesia I Japan I Malaysia I Mongolia I Pakistan I Philippines I Singapore I Taiwan I Thailand Siam Commercial Bank remains Thailand’s best bank. In the past 12 months it has grown its asset base and physical network substantially. Assets now total $19.8 billion, making SCB Thailand’s fourth-largest bank. Its branch network has expanded to number 692 locations and 2,800 ATMs. SCB is the number one credit card issuer in Thailand, with 1.44 million cards, and the leading provider of mortgages, with a 30% market share.

Bahamas I Bardados I Bermuda I Dominician Republic I Jamaica I Trinidad & Tobago I Costa Rica I El Salvador I Guatemala I Honduras I Nicaragua I Panama I Argentina I Bolivia I Brazil I Chile I Colombia I Ecuador I Mexico I Paraguay I Peru I Uruguay I Venezuela

Bahamas I Bardados I Bermuda I Dominician Republic I Jamaica I Trinidad & Tobago I Costa Rica I El Salvador I Guatemala I Honduras I Nicaragua I Panama I Argentina I Bolivia I Brazil I Chile I Colombia I Ecuador I Mexico I Paraguay I Peru I Uruguay I Venezuela

Euromoney Awards for Excellence 2006

Bahamas I Bardados I Bermuda I Dominician Republic I Jamaica I Trinidad & Tobago I Costa Rica I El Salvador I Guatemala I Honduras I Nicaragua I Panama I Argentina I Bolivia I Brazil I Chile I Colombia I Ecuador I Mexico I Paraguay I Peru I Uruguay I Venezuela

Strength comes from the top. And it is from the tight-knit senior executive group that Stan O’Neal believes Merrill derives much of its strength.

Botswana I Ethopia I The Gambia I Ghana I Kenya I Malawi I Mauritius I Namibia I Nigeria I Senegal I South Africa I Swaziland I Tanzania I Togo I Uganda I Zambia I Zimbabwe Zambia’s economy grew at a strong 5.1% in 2005 as copper prices rose, boosting earnings from the country’s number one export. This growth has failed to make much of a dent in the massive public sector debts the country has incurred since independence in 1964 and the government has similarly failed to reduce unemployment, estimated to be 50%, or stem inflation, which averaged 19% in 2005. Nevertheless, it has produced a strong backdrop for banks operating in the country.

Botswana I Ethopia I The Gambia I Ghana I Kenya I Malawi I Mauritius I Namibia I Nigeria I Senegal I South Africa I Swaziland I Tanzania I Togo I Uganda I Zambia I Zimbabwe President Robert Mugabe’s policies continue to severely undermine the Zimbabwean economy. Having dramatically reduced export earnings through the destruction of viable agricultural production in a botched land redistribution programme, he turned his attention to urban areas last year with disastrous consequences: the homes and businesses of around 700,000 people – most of whom were political opponents – were destroyed.

Botswana I Ethopia I The Gambia I Ghana I Kenya I Malawi I Mauritius I Namibia I Nigeria I Senegal I South Africa I Swaziland I Tanzania I Togo I Uganda I Zambia I Zimbabwe The Tanzanian economy performed strongly in 2005 – real GDP growth was 6.8% – giving some hope to a population of more than 37 million with one of the world’s lowest per capita GDP figures at just $700 in 2005. Moreover, the government appears to be on the right track, with banking sector reforms steadily increasing investment in the sector and an internationally assisted regeneration programme established to rebuild the country’s shattered industrial infrastructure. The economy is expected to grow strongly in 2006 despite a severe drought earlier this year.