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Khorgos, a new state-of-the-art port in the middle of the Kazakh desert, sums up the grand ambitions of the Belt and Road Initiative. But it is as much driven and funded by Kazakhstan as it is by China. Rather than being a white elephant, it has real implications for trade.

Nordea, which gained shareholder approval to move its headquarters into the eurozone in March, has made much of its decision.

Core division sees sharp fall as peers rise; follows exit of key investment bankers.

Inside the LIA’s litigious pursuit of Gaddafi-era investments brokered by Western financial institutions as it brings controversial claims against Goldman Sachs, a Dutch asset manager and Société Générale.

Digital banking competition in the Middle East – which was still not as strong as it should have been when Euromoney decided last year’s winners – has finally picked up.

Reform in the Middle East, clearly, is not just about recent dynastic change. Across the Gulf, increasing budgetary constraints – thanks to the continued viability of shale oil and gas production, and the spread of renewable energy –underline the importance of economic diversification.

A lack of funding for small and medium-sized enterprises (SMEs) remains one of the most pressing challenges facing Middle Eastern economies today.

The winner in the transaction services category has put this business at the heart of its global strategy over the last two years to reduce reliance on lending revenue. In 2017, the success of this commitment could be seen in the Middle East – perhaps reflecting the fact that the banker leading this global reorientation in corporate and institutional banking, Simon Cooper, was previously chief executive of HSBC Middle East.

The award for best bank for sustainable finance, our new category, is designed to reward banks that have advanced the growth of green financing, financial inclusion and social financing – areas that should become increasingly important in mainstream banking.

Emirates NBD wins award for the Middle East’s best bank; Citi scoops regional investment banking category; winners demonstrate commitment to areas such as digital transformation, SME lending and corporate social responsibility across the region.

A list of winners of Euromoney’s Middle East Awards for Excellence 2018, as well as detailed citations for all of the winners, is available here.

A merger over a decade ago created what is in 2018 the Middle East’s best bank, Emirates NBD. In 2017, another merger created the region’s biggest bank. So far, the signs suggest FAB will be successful. But in 2018, the bank that wins best bank transformation is Commercial International Bank (CIB). CIB has made an impressive shift over the last decade and a half from its origins as a relatively small corporate-focused bank towards a sustainably profitable institution that offers international investors exposure to the Egyptian consumer story. Hisham Ezz Al Arab has been chairman and managing director throughout this period.