Banks reacted smartly to Spain’s sharp contraction in growth last year — with the resulting numbers showing that they are nicely positioned for the future.

Better profitability, efficiency and return on risk put Banco Inbursa ahead of its peers in 2020.

Turkiye Vakiflar Bankasi leads the Turkish banks, whose adaptability has seen them through a tough year in face of currency depreciation and rising inflation.

Well-capitalised UK banks not only weathered the Covid-19 pandemic, but also helped the government support other businesses during it. However, other challenges, such as Brexit, remain.

The country’s three largest banks recorded close to 20% growth in mortgages last year.

ABN Amro increased loan impairment provisions by 285% in 2020, in preparation for the damaging impact of Covid-19.

A surge in Covid-19 infections this year has prompted authorities to renew calls for banks to cut lending rates.

The central bank implemented targeted support measures last year to ease pressure on companies and provide banks with liquidity.