The continuing bonanza for banks over the past five years may be coming to an end, at least for some, following the recent subprime crisis. But for many, strong economic growth around the globe, especially in developing economies, continues to provide a key platform for record profits and expanding profitability. The Banker’s eighth Bank of the Year Awards – sponsored by Bahrain Financial Services Development – reflect the success and financial achievements of the top banks from countries across the globe.
Our 155 Bracken winners, representing a record 143 countries and all the regions of the world, are the cream of the global banking community and the best achievers in the industry.
This year, The Banker’s eighth annual commercial banking awards provide winners in a record 143 countries along with seven regional awards, including Global Bank of the Year to the Royal Bank of Scotland. In addition we include awards in emerging markets, cash management, securities services and two in environmental social governance (formerly known as corporate social responsibility) as well as a chief information officer award. Together these winners represent the best commercial banking performances across the globe.
In a special award, William R Rhodes, chairman, president and chief executive of Citibank, will receive The Banker’s first Lifetime Achievement in Banking Award at the 2007 awards ceremonies in London on 28 November.
The criteria for the assessment of the Bank of the Year Awards for the 143 countries and the regions is built around detailed questionnaires provided by banks, and this year 457 banks from these 143 countries submitted questionnaires to our editorial team. Our global judging team reflects not only on the latest results, growth rates and performance data over the previous period contained in the questionnaires but also analyses of all available material examining technology, acquisitions and key strategic developments.
The award for a single bank in each country is for the best overall performance in the previous period incorporating performance criteria, qualitative achievements and strategic initiatives. The cash management and securities services winners were selected from analysis of the major players in these sectors and the Chief Information Officer Award stemmed from a peer review vote from 20 of the world’s largest commercial banks. The environmental social governance awards were judged by specialist Innovest Strategic Value Advisers in association with The Banker.
This year, the world’s largest banking acquisition, the $99.9bn purchase of ABN AMRO by a consortium led by Royal Bank of Scotland, played a key role in the awards with Royal Bank of Scotland our Global Bank of the Year and Belgium’s Fortis, one of the RBS consortium, winning the regional award in western Europe.
Unlike previous years, the winners in 2007 come from a diverse range of banks but nevertheless some banks did have multiple successes. South Africa’s Standard Bank Group won in Emerging Markets and seven countries in Africa, Spain’s BBVA Group won in Latin America and four countries in Latin America, Standard Chartered Bank won in Africa plus five countries in Africa and central Asia and Austria’s RZB won in Austria and four countries in central Europe.
BRACKEN WINNERS
Armenia | |
Argentina | |
Andorra | |
Albania | |
Afghanistan |