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Techcombank further solidified its leadership in Vietnam’s banking sector in 2023. This has been driven by its five-year transformation journey focusing on investments in digital, data and talent under chief executive Jens Lottner, who took the helm in 2020.

The Bolivian financial system has been facing dollar scarcity for more than a year now and the impact on the economy has been predictably negative, with Fitch recently downgrading the country to CCC from B-. It has been a long running crisis, with the strongest and best bank in the system Banco Mercantil Santa Cruz (BMSC), playing an important role in providing much-needed liquidity. One of the peaks of the liquidity crunch came in March 2023 and BMSC played a systemically important role by meeting dollar demand when it had evaporated from many other banks.

For its range and quality of corporate banking services, investment in digital, and financial performance, Kotak Mahindra Bank wins the award of India's best bank for corporates this year.

Banco Santander’s wealth management proposition has been resonating in Latin America in recent years. It has been one of the big engines of growth for Santander’s wealth management and insurance division in 2023, which contributed €3.3 billion in profit to the group, up 21% year on year. The bank’s strong regional footprint – as well as its presence in the US and Europe – gives it a perfect competitive proposition for wealthy Latin Americans, who are increasingly interested in diversifying their portfolio into international assets and currencies.

Like in the neighbouring Czech Republic, foreign groups own all five of Slovakia’s top five banks. And like in the Czech Republic and elsewhere, higher interest rates have brought higher profits – and new taxes on banks, in Slovakia’s case following the formation of a new government in October last year.

All banks invest heavily in their digital products and services, but the return on that investment can vary widely.

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.

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.

Singapore’s big lenders tend to dominate banking for small and medium-sized enterprises in Asia, and this year is no exception, with UOB beating its domestic rivals to this award.

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.

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.

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.