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  • Societe Generale’s global reputation as a driver of green and sustainable principles and investment, plus its long presence across Africa, combine to make the Paris-based lender a clear winner of this award on the continent.
  • Presenting annual earnings in early February 2024, Frank Vang-Jensen had good reason to be delighted with the 2023 performance of the bank he leads as chief executive. After another year in which Nordea strengthened its profile in all four of its main markets, including performing strongly in its home country, the bank again wins the award for Finland’s best bank.
  • Under the leadership of chief executive Karl Stumke, Bank of Maldives, the country’s best bank, has delivered on its strategic priorities in 2023, resulting in a strong financial performance and substantial customer acquisition.
  • Nerves were jangling hard in Europe last year, when the panic that had seen many tens of billions of dollars’ worth of deposits flee large US regional banks in a matter of hours suddenly began emerging in Europe.
  • NLB Banka is Montenegro’s best bank, having demonstrated strong growth and development last year, which in turn contributed to its record bottom line.
  • Established in 1947 as Pakistan’s first commercial bank, HBL has consistently been at the forefront of the banking industry’s evolution. Last year, it solidified its position as a trailblazer, delivering impressive financial results while demonstrating its commitment to innovation. In recognition of this it receives the award for Pakistan’s best bank.
  • There are many ways in which banks can demonstrate their commitment to social responsibility and some come amid the most challenging times. The devastating earthquake in southern Turkey at the beginning of last year triggered an immediate response in support for the affected communities from the country’s corporate and banking sectors.
  • Lithuanian banks successfully shrugged off a stagnating economy and the government’s windfall tax last year to double net profits.
  • The banking environment in Tunisia worsened last year due to the absence of a financing package to meet the government’s funding needs. This led to Moody's downgrading four banks in January 2023 because of the sovereign downgrade. The agency changed its outlook on the sector to stable in January 2024.
  • Banco Angolano de Investimentos (BAI) posted impressive financial results for 2023. Profit before tax stood at AKz220 billion ($250 million), almost double its 2022 result (AKz115 billion), and the bank achieved a return on equity of 36%, up from 26% the year before.
  • For a global lender, Citi’s investment-banking presence in Africa is hard to compete with. The US firm has an onshore presence in 16 countries and covers 38 markets, with a dedicated team in Johannesburg supported by corporate bankers across the region.
  • Public-sector clients had to tackle rising rates and geopolitical uncertainty in 2023, while undergoing fundamental restructuring in their sector. HSBC was instrumental in guiding them through the uncertainty.