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By far the biggest bank by assets in the country and boasting nine million account holders, ING is also the best bank in the Netherlands this year.

Overall 2023 was a challenging year for Colombia’s economy and most of its large banks would have felt reasonably happy with their static performance. But BBVA managed to outperform the market in most banking segments. The firm ended last year as the leading foreign bank in the country and the fourth largest in the financial sector, with an 11.2% market share in terms of assets. However, it was the growth in the difficult conditions that sealed the award for Colombia’s best bank. BBVA grew total loans by 6.4% in the year and increased its market share by 50 basis points to 11.6%, led by an 8.5% increase in loans to individuals, which took market share of that segment to 14.9%, a 106bp rise.

As in so many other areas of the bank’s franchise, JPMorgan’s wealth management performance in 2023 was a good illustration of the unique qualities of the US’s preeminent banking institution. It is North America’s best bank for wealth management.

Under group chief executive Andrea Orcel, UniCredit has reaffirmed its commitment to central and eastern Europe – highlighted by its announcement of the €300 million purchase of Alpha Bank Romania, part of a deal that also involved it taking a stake in the Athens-based group.

The fourth-biggest bank in Portugal, which has been fully owned by Spain’s CaixaBank since the end of 2018, saw an exceptional performance in 2023. After record results for the firm across the board, Banco BPI is clear winner of the award for Portugal’s best bank.

Brazil’s Nubank is the momentum story in global banking. In 2023, the bank added 19 million clients (to a total of 93.9 million), and it now can claim to bank 53% of the adult population of Brazil. It is also now seeing a positive operating leverage effect from the growth in its client base. In the fourth quarter of 2023, it recorded revenue of $2.4 billion (Nubank is listed on the NYSE and all its earnings are reported in dollars), which was up 57% on an annual basis. Net income jumped 489% to $360.9 million, with a return on equity of 23%.

Often this award goes to the bank that has done a particularly good job of providing useful digital features through a smartphone app to retail customers. This year we recognize a wholesale bank, most renowned for the technology behind its CashPro offering for payments, receivables, liquidity and FX management. Bank of America is western Europe’s best digital bank.

Few banks have navigated turbulent times so well, posting record revenues on the back of strong net inflows and rising markets.

The disconnect between global economic growth and commodity prices is focusing treasurers’ minds on hedging exposures to everything from cocoa to cobalt.

S&P’s regional bank index has just pushed past its March 10, 2023, level, reflecting where these stocks were immediately before the collapse of SVB last year. Those stocks are rising sharply and investors are seeing huge profits, so is this a sign that regional banks have finally emerged from their crisis?

HSBC’s choice of a new CEO to replace Noel Quinn was long flagged. Elhedery’s fortune is to be handed the reins of power in an extended period of calm for the UK lender, which benefited immensely from Quinn’s calm stoicism. But deteriorating Sino-US relations mean that turbulence for the London- and Hong Kong-listed lender is sure to return.

The bank is targeting the often-overlooked service sector with structured solutions, along with identifying embedded finance as a fast-growing segment. With the launch of Global Trade Solutions, it goes beyond traditional product offerings and financing.