This year has brought with it even more uncertainty for banks, with stagnating growth and increased regulation. The Banker’s 13th Bank of the Year Awards celebrates the banks that have taken on these challenges, using them as an opportunity to re-evaluate and innovate.
Just 12 months ago, when The Banker described 2011 as the financial world’s annus horribilis in its end-of-year review, few would have imagined that matters could have gotten any worse. Nevertheless, there is no doubt that in some respects at least, they have. Continuing uncertainty in the eurozone, stagnant growth and stringent regulatory demands have truly tested banks’ resilience. The Banker’s 13th Bank of the Year Awards celebrates those institutions that have risen to the challenges posed by one of the toughest operating environments in living memory, demonstrating innovation, efficiency and vigilant management to the benefit of their customers and the economies in which they operate.
Editor's choice
Entrants were asked to provide comprehensive data on their earnings, assets and Tier 1 capital growth and returns on equity. But strong financial standing, while essential for success, was not enough to guarantee it. Our editorial team also looked for evidence of innovation and standard-setting in local markets; from deploying new technology to boost efficiency or provide new services to customers, to expanding business lines, customer numbers and product portfolios in a sustainable and responsible manner.
Coverage, has, once again been truly global, with a total of 149 countries receiving awards. Notable omissions included Greece and Cyprus, which were not included due to the ongoing uncertainty over the impact of the Greek sovereign crisis, while Mali and Guinea-Bissau were discounted as a result of military coups d'état and Iceland and Ireland have still not returned to the awards process. Côte d’Ivoire, however, which was passed over last year due to political upheaval, was reinstated.
As well as the five regional awards and overall global winner, banks judged to be best in financial inclusion and transaction banking categories were also recognised.
The Banker’s awards continue to set the benchmark for the industry. Congratulations to all our winners.
