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With volumes in the capital markets subdued in 2023, there was increased client interest in private markets and M&A transactions. BofA Securities – led by Augusto Urmeneta, president of Bank of America for Latin America and head of Latin America global corporate and investment banking – embraced this challenge and helped clients tap alternative sources of liquidity. M&A was an important strategic option for many companies and BofA’s deal list featured 26 clients in five countries with both cross-border and domestic transactions, which accounted for a 9.5% market share in terms of fee revenues ($52.2 million).

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.

In each of equity and debt capital markets, syndicated loans and M&A advisory, Truist Securities ranked higher than its super-regional peers in 2023, according to Dealogic. For its consistency and the progress it has made since the merger of SunTrust and BB&T that created the firm at the end of 2019, Truist wins the award for the US’s best super-regional investment bank this year.

North America’s Best Digital Bank: Bank of America

The bank’s chief executive has led from the front to create an institution that is more diverse and better reflects the society in which it works.

CAC International demonstrated a robust financial performance last year, with assets growing by 8% to $536 million and profit before tax reaching $2.374 million, a 38% increase year on year.

The strategic case for banks to remain in central and eastern Europe remains intact: that is the official line from Scope Ratings at least. The agency found that faster growth and higher interest rates in CEE have, overall, boosted the profitability of western European banks present in the region.

With a chief executive pushing sustainable finance from the very top, HSBC is leading from the front in the global banking industry’s response to the climate emergency.

If there was ever a time that demonstrated JPMorgan’s credentials as the country’s best bank, it was the crisis in March and April 2023 when US regional banks suddenly faced a balance sheet reckoning triggered by the rapid change in interest rates.

The bank has cleaned up its books, closed branches and improved its cost-to-income ratio. It also paid its first dividend since 2008.

The banking sector in DR Congo is undergoing transition. The central bank has proposed new ownership requirements for banks in the country, stipulating that they must have at least four unrelated shareholders. At the same time, large banks outside the country, such as Kenya’s KCB and Equity Bank, are eyeing the market as a potential growth opportunity – hardly surprising when less than a third of the DR Congolese population has a bank account.

Access Bank Gambia impressed this year with its strong financial results, effective support for small and medium-sized enterprises and important philanthropic work.