The Banker’s Top 300 European Banks listing sees HSBC trumped and a new leader emerge.

While Brazil’s Banco Bradesco knocked Mexico’s Grupo Financiero BBVA Bancomer off the top of the pile, Mexico has boosted its tally in the top 10. The battle between Mexican and Brazilian banks to occupy the top spots in the Top 100 Latin American bank listings continued in earnest this year. While Mexico’s Grupo Financiero BBVA Bancomer lost the number one position to Brazil’s largest private bank, Banco Bradesco, Mexico as a country increased its number of slots in the top 10 from three to four.

This year’s Banks of the Future survey shows that the lesser players in the global banking league, in Africa, Asia and the Middle East, are gaining ground in profitability on the banks of the US and Europe.

The Banker unveils its latest listing – the Top 100 banks in the EBRD transition countries – and finds Russia’s state-owned banks leading the pack.

The Banker’s first Central American ranking sees continued growth, thanks to services sector expansion.

Russia’s economy is buoyant but there remain many improvements to be made to the banking system.

The lowering of the rand/dollar exchange rate and an increase in assets keeps the country at the top of the pile.

While Gulf banks enjoy strong results, banks in non-oil countries have seen a drop in their profits. Stephen Timewell reports.