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It was a mixed year in Austrian banking in 2023. Higher eurozone interest rates bolstered banks’ net interest margins, but at the end of the year the bankruptcy of Austrian real estate group Signa shone the spotlight on what Moody’s said was €2.2 billion of lending by Austrian banks to Signa.

Societe Generale has accelerated its transition and is using important mandates to convince its internal and external audiences alike.

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.

In 2023, ABA Bank, Cambodia’s largest commercial bank, achieved significant growth across all key metrics, solidifying its position as a leader in the country’s banking sector and winning it the award for the country’s best bank. Under the leadership of chief executive Askhat Azhikhanov, the bank’s net profit increased by 5% to $276.5 million in 2023, securing its status as the most profitable commercial bank in Cambodia for the third consecutive year.

Transaction services are a vital part of UniCredit’s rationale as a pan-European bank, and its leadership in this area is particularly evident in central and eastern Europe, where the bank’s regional head of transactions and payments is Riccardo Madinelli.

The definition of excellence in these Euromoney awards is multifaceted. Sometimes the best bank is the one that has innovated and changed the market, sometimes the momentum in the market deserves recognition and at other times the player that dominates in terms of scale and profitability is the winner. It’s not often all three, but in Brazil, Nubank has revolutionized the retail banking market while enjoying unprecedented growth that has begun to feed – thanks to its highly efficient operating model – into operational leverage that is driving market-leading profitability.

Raiffeisen Bank Kosovo is the country’s best bank after a year in which it introduced of a series of new and enhanced products across its banking businesses, materially grew its client base and generated a record net profit.

For the volume of sustainable finance being provided to the Turkish economy, as well as innovation in sustainability products, Akbank wins the award as best bank for environmental, social and governance this year.

While Honduras has shifted its political allegiance to China – it ended diplomatic relations with Taiwan in an attempt to win investment from the Asian superpower – its real problems lie closer to home. The economy is stuck in a remittances trap, with annual payments from its diaspora back to the country worth almost 30% of GDP, which is the highest ratio in the region.

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.

It is not enough to have the data, banks also need to bring intelligence and financial analysis to bear in sustainable finance to keep progressing.

Despite a local economic slowdown, Bosnia and Herzegovina’s banking sector remained healthy in 2023 for growth, profits and asset quality. It is a market that UniCredit Bank Mostar and Raiffeisen Bank dominate in terms of market share, and this year UniCredit – led locally by chief executive Amina Mahmutović – retains the award for the country’s best bank.