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  • Throughout 2023, HSBC expanded its presence in the mainland Chinese market, strengthening its operations and advancing strategic initiatives across many sectors.
  • HSBC introduced initiatives to tackle parental leave, diversity in its hiring process and to improve support for its transgender employees in Hong Kong last year.
  • In 2023, HSBC further solidified its position as Hong Kong’s best bank under the leadership of Luanne Lim, HSBC Hong Kong’s chief executive. HSBC Group’s market profit before tax soared to $10.7 billion, representing 80% year-on-year growth and contributing 35.3% to the group’s overall pre-tax profit.
  • HSBC helped Singaporean companies like Next Gen Foods and Multiplier Technologies expand overseas in 2023. It also scaled up its support for local businesses expansion in the region by introducing a $1 billion ASEAN (Association of southeast Asian Nations) growth fund for digital platform businesses and a $150 million venture debt offering aimed at scaling high growth companies.
  • OCBC had a busy 2023, launching new FX features, application programming interface (API) integration and improvements to its online platform.
  • OCBC NISP proved an invaluable partner to its small and medium-sized enterprise clients in Indonesia throughout 2023 with the launch of its Nyala Bisnis 2.0 platform and initiatives to empower women-owned SMEs.
  • For a small economy, Luxembourg boasts many banks: 120 were authorized in 2023. Many of these primarily serve international clients, in particular providing securities services to institutional investors from across Europe and beyond.
  • Standard Bank successfully implemented innovative digital products across all banking segments in 2023 while also making important philanthropic contributions in Malawi.
  • All banks invest heavily in their digital products and services, but the return on that investment can vary widely.
  • Baiduri Bank is again Brunei’s best bank, not just because of its impressive financial performance but also for its dedication to digital transformation.
  • Romania was the place of perhaps the most important bank M&A deal to be announced in 2023: the merger of the local units of Italian group UniCredit and Greece’s Alpha Bank. The deal promised to allow UniCredit, as the owner of 90% of the merged entity, to supplant Societe Generale-owned BRD as the country’s third-biggest bank.
  • It is not normally thought of as one of the banks with a large stronghold on central and eastern Europe. Nevertheless, BNP Paribas still owns relatively large banks in what are, in effect after the 2022 invasion of Ukraine, the region’s two biggest markets in terms of banking: Poland and Turkey.