The basics of banking may seem much the same as they have been for generations but at the beginning of the 21st century the ability to innovate and provide competitive and profitable financial services is a complex and dynamic process. The Banker Awards, sponsored this year by Deloitte Consulting and Vodafone, reflect outstanding quality and innovation in the financial world and our 26 Bracken and 106 country award winners represent the cream of the global banking community.
For 75 years since its inception in 1926, The Banker has been a trusted source of global financial intelligence and given its exclusive bank listings and extensive financial coverage it is uniquely placed to bring its international perspective to its global banking awards. Unlike our Top 1000 World Banks listing in July and our 1001-2000 World banks listing in August, The Banker Bank of the Year Awards incorporate much more than core financial data and statistics. The Bank of the Year also brings in more subjective elements, including a bank's own assessment of its performance and achievements. The criteria for assessment of these awards, which are decided by the global editorial team, reflect not only the latest results and performance data but also information provided by the major institutions nominated in each country and category. The emphasis in the questionnaires sent to the banks is on results but also achievements, technology initiatives and overall strategy. The editorial team brings together the results data, information from the questionnaires and its members market knowledge to arrive at the overall judgements given. This year The Banker is giving 106 country awards, incorporating 35 more countries than last year; entries were received from 340 of the banks nominated, a 42% increase on the 2000 awards. In investment banking and global custody, the number of awards has been increased to 15 from eight to reflect a wider spread of activities; almost 60 entries were received in these categories. The awards also include three technology awards and eight regional "Bank of the Year" awards, including Global Bank of the Year.