Bank of the Year Awards - 2011

Banking chief executives must have been hoping that in 2011 financial markets would once and for all shake off the effects of the global crisis, which begun back in 2007. Instead, it has been one of the toughest years many of them will have experienced, with turmoil in the eurozone debt markets, concerns over US economic growth and fears about China’s banking system all resulting in a bearish atmosphere.

For all the setbacks, however, the vast majority of entrants for The Banker’s 12th Bank of the Year awards managed to do a lot more than merely survive. They once again showed their ability to innovate and create new products that benefit their customers and the economies in which they operate.

Entrants were asked to provide comprehensive data on their earnings, asset and Tier 1 capital growth, and returns on equity. But good figures, while essential, were not enough. Our editorial team looked for evidence of banks setting new standards for their local industries, whether it was by using new technology or coming up with innovative, cost-efficient ways of expanding their businesses.

The Banker has again managed to cover nearly the whole world. This year we have given awards for 147 countries. Some, such as Côte d’Ivoire, we felt had to miss out given the stress their banking systems have been under as a result of political upheaval. But not all countries that underwent major political stress missed out. The winners of the Tunisian and Egyptian awards – Banque de Tunisie and Commercial International Bank – showed remarkable robustness as they generated strong profits despite political unrest.

As well as the global and five regional awards, we also gave awards for financial inclusion and transaction banking.

The Banker’s awards continue to set the benchmark for the industry. Congratulations to all our winners.