The Banker Awards 2007 - The Banker - BG LEGIS



The Banker Awards 2007 - The Banker

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The Banker Awards 2007 - The Winners

In November the ceremony was held for The Banker Awards 2007 at The Dorchester Hotel in London. This year we gave awards in 143 countries and more than 100 countries were represented on the night.

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The Banker Awards 2007

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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 –|[pic] |

|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.

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Global Awards 2007

The Banker Global Awards salute outstanding performances by commercial banks in not only 143 countries but also in all the world’s regions.

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The Banker Country Awards 2007

The Banker’s Bank of the Year country awards acknowledge banks for the best overall performance in their country. Our global editorial team chose the winners based on analysis of the latest results and performance data provided by the banks through questionnaires plus a review of their strategic developments and overall achievements.

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Afghanistan

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Nasreen Sattar

Standard Chartered Bank Afghanistan

Plagued by war, political instability and rampant criminal activity, Standard Chartered Bank Afghanistan still manages to produce growth and improved profitability.

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Albania

American Bank of Albania

Established in 1998 to assist Albania in its transition to a market economy, American Bank of Albania has expanded strongly in the past three years and agreement was reached at the end of 2006 with Italy’s Sanpaolo IMI to acquire 80% of ABA at 3.65 times its net worth. The agreement was finalised in June 2007, when ABA officially became a bank of the Intesa Sanpaolo Group.

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Andorra

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Josep Peralba

Crèdit Andorrà

Profit growth, good RoE and stronger balance sheet are all good parameters to judge a bank’s performance. Crèdit Andorrà, once again, has demonstrated good results in all these areas and the full integration of CaixaBank, acquired in 2005, into its books strengthened the group’s position on all fronts.

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Argentina

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Jorge Brito

Banco Macro

Banco Macro has proven itself committed to improving shareholder value. It was the first bank authorised by the central bank to start paying cash dividends after Argentina’s 2001-02 financial crisis.

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Armenia

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Tony Turner

HSBC Bank Armenia

In 2006, HSBC Bank Armenia celebrated its 10th anniversary with record profits and the announcement of significant expansion plans, the implementation of which has begun this year.

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Australia

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Westpac

Westpac has continued to focus on the twin goals of driving strong income growth, while improving operational efficiency in its core markets of Australia, New Zealand and the near Pacific.

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Austria

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Raiffeisen Zentralbank

Strong domestic results and an impressive cross-border acquisitions campaign have singled out Raiffeisen Zentralbank (RZB) as the best bank in Austria.

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Azerbaijan

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International Bank of Azerbaijan

International Bank of Azerbaijan (IBA) boosted its asset base by a record 59.91%, with an 85.19% increase in net profit. This impressive performance was achieved by strengthening efforts to grow the capacity and quality of its loan portfolio, taking advantage of a more beneficial interest rate environment.

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Bahamas

FirstCaribbean International Bank (Bahamas)

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Bahrain

Ahli United Bank

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Bangladesh

Bank Asia

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Barbados

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Barbados National Bank

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Belarus

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BPS Bank

In 2006, Minsk-based BPS Bank produced outstanding results with a 178.4% increase in profits; and further increases are expected this year. In an expanding market, BPS Bank has shown itself to be one of the most profitable and efficient of the Belarusian banks.

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Belgium

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Fortis

One of the participants of Europe’s most debated deals (the acquisition of ABN AMRO), Fortis has had an exciting year. It has grown profitability in the wealthy Benelux markets, which provided a 17% net profit increase, and has expanded its business in Turkey, Poland, India and the US.

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Benin

Ecobank Benin

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Bermuda

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Bank of Bermuda

Bank of Bermuda has taken a holistic approach to business, employment and the community, which sets it apart from its competitors.

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Bolivia

Banco Mercantil Santa Cruz

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Bosnia & Herzegovina

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Raiffeisen Bank

Strong growth in all major indicators, improved efficiency in payments and expansion in the business network led Raiffeisen Bank in Bosnia & Herzegovina to have an outstanding year in 2006.

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Botswana

Standard Chartered Bank Botswana

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Brazil

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Banco do Brasil

Last year, Banco do Brasil held its second public offering, which brought about the sale of 52.3 million shares. Foreign and domestic investor participation was well balanced, with an emphasis on individual shareholders, who bought 28% of the shares.

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Brunei

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Baiduri Bank

Few banks can lay claim to an 81% increase in net profits in one financial year, but Baiduri Bank can, standing out as Brunei’s most dynamic financial institution.

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Bulgaria

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UniCredit Bulbank

In the past year, a three-bank merger of the former Bulbank, HVB Bank Biochim and Hebros Bank (all members of Italy’s UniCredit Group) has resulted in the creation of the biggest and strongest bank in Bulgaria, UniCredit Bulbank.

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Burkina Faso

Ecobank Burkina

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Cambodia

Cambodian Commercial Bank

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Canada

Royal Bank of Canada

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Cayman Islands

FirstCaribbean International Bank (CAYMAN)

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Chile

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Banco Santander Chile

For Banco Santander Chile, last year was a period of strong growth in retail banking. Loans to individuals were up 24.6% in the year, with a 29.5% increase in consumer lending.

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China

ICBC

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Colombia

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Luis B Juango Fitero

BBVA Colombia

BBVA Colombia’s 2006 highlight was the completion of its merger with Banco Granahorrar. The merger opened the way for new growth opportunities in the short and medium term, and placed BBVA in the lead position in the country’s residential mortgage market.

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Congo

Stanbic Bank Congo

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Costa Rica

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Scotiabank Costa Rica

Last year was a landmark period for Scotiabank Costa Rica. The Canadian-owned entity acquired Banco Interfin, the largest private institution in the country, in what was the largest transaction in Costa Rica’s history.

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Cote d’Ivoire

Ecobank Côte d’Ivoire

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Croatia

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Privedna Banka Zagreb

In 2006, Privedna Banka Zagreb (PBZ) produced excellent results, posting a net profits increase of 13.7% to reach E116m and a healthy 17.3% RoE.

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Cuba

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Banco Internacional de Comercio

Banco Internacional de Comercio (BIC) focused on the growth and diversification of its profitable assets, as well as the disposal of some of its non-core branch offices, thus reducing costs and boosting profits.

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Cyprus

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Marfin Popular Bank

Mergers are challenging at the best of times. When the number of banks merging is not two but three, the number of obstacles and problems escalates – as does the number of opportunities.

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Czech Republic

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Ceskoslovenska Obchodnoi Bank

Prague-based Ceskoslovenska Obchodnoi Bank (CSOB), part of Belgium’s KBC Group, maintained its dominant role in the Czech market and developed a major competitive advantage: bancassurance and asset management abilities combined with a powerful multi-channel distribution network using a variety of strong brands.

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Denmark

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Danske Bank

Danske Bank’s competitiveness has been strengthened not only in its home country, where it undertook a series of branch rationalisations, which are expected to produce important synergies.

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Dominican Republic

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Banco Popular Dominicano

As market leader in the Dominican Republic, Banco Popular adopted a plan to improve its revenue mix. It is already number one in assets, which rose 15.42% in the year.

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Ecuador

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Produbanco

Produbanco and the whole Grupo Financiero Producción have focused on high-efficiency standards since operations started in 1978. This search became more crucial after the Ecuadorian financial system crisis of the late 1990s.

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Egypt

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Commercial International Bank

Commercial International Bank (CIB), Egypt’s fifth largest bank with an estimated market share of 6% of total deposits in the local banking sector, produced impressive results in 2006 and maintained its position as the country’s most profitable bank with a return on average equity of 23.45%.

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El Salvador

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Banco Agrícola

Banco Agrícola has taken three major initiatives to improve shareholder return.

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Estonia

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SEB Eesti Ühispank

On the back of double-digit growth in the Estonian economy and focus on cost efficiency and excellent credit quality, SEB Eesti Ühispank created new record results in 2006 with a 49% rise in net profits to Ekr1375m ($128,000) and a further 50% net profit growth is forecast for 2007.

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Ethiopia

Dashen Bank

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Finland

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OP Bank

The further integration of Pohjola Group into OP Bank achieved significant cost saving, giving the combined organisation a competitive edge.

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France

BNP Paribas

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Gambia

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Trust Bank

With a phenomenal growth that almost doubled the bank’s profitability and an impressive 47% RoE, Trust Bank is the clear winner in Gambia.

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Georgia

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Bank of Georgia

Bank of Georgia (BoG) has positioned itself as the country’s largest bank, with a 32% market share. Last year, it became the first Georgian bank and the second from the Commonwealth of Independent States (CIS) to list its shares in the form of global depository receipts (GDRs) on the London Stock Exchange, raising $160m.

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Germany

Deutsche Bank

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Ghana

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Ghana Commercial Bank

Ghana Commercial Bank (GCB) boosted profits by a record 102% last year, thanks in large measure to a sizeable investment in information and communications technology (ICT).

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Greece

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Eurobank EFG

A series of greenfield developments and selective acquisitions catapulted Eurobank EFG to the seventh position among banks in Europe’s developing countries with a total of €7.1bn in assets, from a relatively small bank with limited exposure to such markets.

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Guatemala

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Banco Industrial

Banco Industrial developed a number of major initiatives last year that resulted in income growth, improved efficiency ratios, higher profits and shareholder returns.

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Guinea

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International Commercial Bank

International Commercial Bank (ICB) achieved a remarkable 63% growth in Tier 1 capital last year, up from 20% in 2005, and boosted its RoE to 49.7%, from 36.27% in 2005, thanks to the success of combining and integrating effective human and customer resources management strategies.

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Honduras

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Banco del País

Banco del País achieved an enhanced performance across all business segments last year. As a result, it was able to boost net profits by a record 70.75%, with asset growth up 43.82% and the NPL ratio down to 2.25% of the loan book, compared with 4.92% in the previous year.

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Hong Kong

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HSBC

HSBC is continuing to implement its five-year strategy plan, Managing for Growth, which spans the 2004-08 period.

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Hungary

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MKB Bank

The third largest commercial bank in Hungary, MKB Bank, began to implement a new business model with considerable success in 2006, managing to achieve strong results, successful acquisitions and new greenfield ventures.

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Iceland

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Glitnir Bank

In the small and heated banking market of Iceland, banks have no option but to seek expansion abroad to sustain growth.

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India

ICICI Bank

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Indonesia

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Bank Mandiri

Bank Mandiri undertook a reorganisation last year that split the group into five strategic business units, targeting customers in the corporate, commercial, consumer finance, retail and micro banking, and treasury and international banking segments.

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Iran

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En Bank

The first privately owned bank in Iran, EN Bank showed dramatic growth in the year to end-March 2007 in all major banking indicators.

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Ireland

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Anglo Irish Bank Corporation

In current markets, where price competition, risk taking and reorganisation are key to increasing profitability, Anglo Irish Bank stands out for achieving good growth levels while maintaining the same business model and a low-risk approach.

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Israel

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Bank Leumi

In 2006, Bank Leumi recorded the highest profit in the history of the Israeli banking sector, growing by 65.4% to reach NIS3.5bn ($890.6m) with RoE reaching 20.1%.

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Italy

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UniCredit

What a fantastic year for UniCredit: more than 60% growth in profit, a successful integration of Germany’s HVB and continuous growth both in Italy and in central and eastern Europe.

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Jamaica

FirstCaribbean International Bank (Jamaica)

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Japan

Mizuho Financial Group

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Jordan

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Jordan Kuwait Bank

Following its strategic development plan, Jordan Kuwait Bank (JKB) continued to register strong growth and outstanding performances.

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Kazakhstan

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Kazkommertsbank

As a result of two successful investments of common shares and issuance of subordinate obligations during 2006, Kazkommertsbank’s (KKB) capital increased threefold.

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Kenya

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Barclays Bank of Kenya

Barclays Bank of Kenya delivered record financial results in the Kenyan banking sector, led by a rise in net profits of 20.5%.

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Kosovo

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Raiffeisen Bank Kosovo

Last year was Raiffeisen Bank Kosovo’s most successful year to date with net profits up 56.8% to €10.8m accounting for 44% of Kosovo’s entire banking sector profits.

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Kuwait

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Kuwait Finance House

Following on from several significant initiatives, including expansion into various foreign markets, Kuwait Finance House (KFH) produced another stunning performance with strong growth and profitability.

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Kyrgyz Republic

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AsiaUniversalBank

AsiaUniversalBank (AUB) strengthened its position as the leader of the Kyrgyz banking sector last year, increasing its total assets by 13.5% and deposit base by 16.4%, accounting for more than 18% and 27% of the entire Kyrgyz banking system, respectively.

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Laos

ANZ Vientiane Commercial Bank

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Latvia

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Hansabanka

The largest bank in Latvia, Hansabanka had a strong year in 2006. Net profits were up by 57% to €91m and there was outstanding growth in all key indicators: Tier 1 capital up 62% to €370.6m, total assets up by a stunning 71% to €5.5bn and RoE a solid 26.8%.

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Lebanon

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Bank Audi

Expanding both its regional and domestic networks, Bank Audi produced outstanding results for 2006 with a 55.1% increase in net profits to $164.1m, 23.4% growth in total assets to $14.2bn and a massive $600m increase in shareholders’ equity to reach $1.7bn.

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Lesotho

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Standard Lesotho Bank

Last year’s highlight for Standard Lesotho Bank (SLB) was the smooth and successful merger of Standard Bank Lesotho (SBL) and Lesotho Bank. The merger resulted in a number of increased efficiencies.

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Liechtenstein

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VP Bank

Trying to separate commercial banking from private banking in Liechtenstein is difficult. Nonetheless, a predominantly private bank that fits The Banker’s criteria for inclusion in the Top 1000 World Banks ranking must also be considered as a candidate for our Bank of the Year competition.

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Lithuania

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SEB Vilniaus Bankas

Part of the northern European financial organisation, SEB Group, SEB Vilniaus Bankas (SVB) is the leading Lithuanian bank in most market segments and it provided some outstanding growth figures in 2006.

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Luxembourg

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KredietBank

Luxembourg’s banking market is a fertile environment for private banking operations, whether these are carried out by traditional commercial banks or pure private banks.

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Macau

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Seng Heng Bank

Seng Heng Bank has helped to make Macau a world-class finance and IT centre and is using it as a distribution channel to offer wealth management and investment banking services to customers in the region.

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Macedonia

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NLB Tutunska Banka

Part of Slovenia’s NLB Group, NLB Tutunska Banka is the third largest bank in Macedonia by assets and continued to provide strong results and strong growth in key market segments in 2006.

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Madagascar

Bank of Africa Madagascar

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Malawi

Standard Bank Malawi

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Malaysia

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CIMB Group

The figures speak for themselves, with Tier 1 capital, assets and net profits up between 47.64% and 64.04% in the year.

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Mali

Ecobank Mali

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Malta

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Bank of Valletta

Not new to this competition, Bank of Valletta has once again shown notable growth. Its net profits have increased by more than 44%, assets have grown by 10% and shareholders have received a good 25.2% RoE.

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Mauritius

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HSBC

HSBC locally incorporated in Mauritius last year to enhance its customers’ ability to take advantage of the group’s global network and enable access to the extensive double taxation treaties that Mauritius has in place.

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Mexico

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BBVA Bancomer

Bancomer has built a unique business model that caters to specific market niches through specialised business units.

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Moldova

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Moldova-Agroindbank

The Moldova-Agroindbank (MAIB) remains the largest bank in the country and in 2006 continued to produce three-digit growth in all main banking indicators.

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Mongolia

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Khan Bank

Khan Bank’s reduced liability costs and enhanced asset base resulted in an extraordinary acceleration of the group’s net interest margin and earnings power, establishing a new base for future growth and competitiveness.

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Morocco

Attijariwafa Bank

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Mozambique

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Standard Bank Mozambique

Standard Bank has rolled out a consistent strategy to reposition the group’s image from one of selectivity to inclusivity of the markets that meet its strict risk criteria.

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Namibia

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Bank Windhoek

Bank Windhoek’s sound risk and credit management procedures resulted in a 0.2% decrease in provisions for NPLs, which fell to 1.7% of the loan book last year.

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Nepal

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NIC Bank

NIC Bank posted a record 73% increase in net profits last year, on the back of a reduction in its funding costs from 4.68% to 4.19% and an increase in net interest income by 31% and non-interest income by 42%.

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The Netherlands

ING Bank

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New Zealand

ASB Bank

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Nicaragua

Banco de la Producción

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Nigeria

Oceanic Bank International

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Norway

DnB NOR

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Oman

Bankmuscat

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Pakistan

Standard Chartered Bank Pakistan

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Paraguay

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Banco Continental

Banco Continental drastically increased its paid-up capital and assets last year, obtaining impressive growth in market share, particularly in the middle market and agricultural sectors.

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Peru

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Banco de Crédito del Perú

Banco de Crédito del Perú (BCP) took a strategic decision to focus its operations on more profitable lending products and distribution channels to satisfy customer demand.

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Philippines

Banco de Oro Unibank

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Poland

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PKO Bank Polski

In the highly competitive Polish market, PKO Bank Polski (PKO PB), the largest and only domestically owned bank among the major institutions, performed strongly in all banking indicators in 2006.

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Portugal

Banco Espírito Santo

Acquisitions are not necessarily the best way to grow a business. Banco Espírito Santo’s organic growth strategy in its core business has brought good results and secured it a healthy 50% profit growth in 2006.

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Puerto Rico

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Santander BanCorp

Santander BanCorp focused on three main initiatives last year, all of which were aimed at improving shareholder return.

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Qatar

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Qatar National Bank

Qatar’s largest bank, Qatar National Bank (QNB), had another outstanding year, reflecting the strong economic growth in the region. In 2006, net profits rose by 30.4% to $550.7m with assets up 43% to $19.7bn and Tier 1 capital up 22% to $1.8bn.

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Romania

BRD-Groupe Société Générale

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Russia

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Sberbank

The biggest bank in Russia by a wide margin, Sberbank produced very strong results in 2006 followed by a successful $8.8bn share offering earlier this year and a strong first half performance.

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Rwanda

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Banque Commerciale du Rwanda

Banque Commerciale du Rwanda (BCR) achieved a marked improvement in all key growth and performance measures last year.

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Saudi Arabia

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Samba Financial Group

Leveraging its well-known franchise and the region’s strong economic fundamentals, Samba Financial delivered excellent results across all businesses for 2006 and continued the growth trend into 2007.

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Senegal

Ecobank Senegal

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Serbia

Raiffeisen banka

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Sierra Leone

Standard Chartered Bank Sierra Leone

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Singapore

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DBS bank

DBS Bank has proved its resilience and demonstrated to the market that it is capable of sustained high performance, even in the face of strong margin pressure.

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Slovakia

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Tatra banka

Among strong competition, Tatra banka, which is part of Austria’s Raiffeisen International Group, produced healthy growth across all key indicators in 2006.

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Slovenia

NLB

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South Africa

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Standard Bank

Standard Bank’s commitment to sustainable development and ethical business practice is premised on its belief that the only way to grow shareholder value and manage business risk is to meet the needs of its stakeholders.

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South Korea

Woori Bank

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Spain

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BBVA

In a year when risk taking has punished the most adventurous with losses and write downs, BBVA’s conservative approach has paid off with good results.

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Sri Lanka

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Commercial Bank of Ceylon

Commercial Bank of Ceylon made strong progress on all fronts last year, with net profits up 17% on a normalised basis, after discounting the extraordinary items arising from the sale of Investment and Restructuring Pension Scheme.

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Swaziland

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Standard Bank Swaziland

Standard Bank Swaziland (SBS) introduced new and innovative products last year – wholesale and retail deposit-attracting products that enabled the bank to achieve the industry’s highest market share in liabilities.

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Sweden

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Handelsbanken

High RoE, consistently growing year after year, and an exceptionally low NPL ratio have characterised Handelsbanken’s past year. The bank’s good profit growth demonstrates that cautious management decisions can go hand in hand with profitability.

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Switzerland

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Credit Suisse

Everyone loves a turnaround story and The Banker’s judges could not resist the charm of Credit Suisse’s phenomenal come back.

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Taiwan

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First Commercial Bank

Despite rapid changes in the market and the competitive environment, First Commercial Bank’s (FCB) main business lines, such as corporate banking, foreign trade finance and trust business, performed well last year and drove stable operating growth.

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Tanzania

Standard Chartered Bank Tanzania

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Thailand

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Bangkok Bank

Bangkok Bank has implemented a focused growth strategy to expand its regional branch network and capitalise on the high potential in the Association of Southeast Asian Nations (ASEAN) region and China.

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Togo

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Ecobank TOGO

Ecobank Transnational’s net profit rose by 70% last year, the biggest increase among its peers. One of its major achievements was its listing on three west African stock exchanges, a unique event in Africa.

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Trinidad & Tobago

Scotiabank Trinidad & Tobago

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Tunisia

Banque de Tunisie

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Turkey

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Yapi Kredi Bank

Following Koçbank’s acquisition of Yapi Kredi Bank (YKB) in 2005 and the resultant complex merger of the two banks, YKB re-emerged from a difficult period and returned to profitability in 2006 after losses in previous years.

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Turkmenistan

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State Bank for Foreign Economic Affairs

Acting as a bank that specialises in rendering services to the government and corporate clients, the State Bank for Foreign Economic Affairs believes that serving individuals is also one of its basic operational objectives.

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Uganda

Crane Bank

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Ukraine

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Raiffeisen Bank Aval

Acquired in October 2005 by Austria’s Raiffeisen International, its new Ukraine subsidiary Raiffeisen Bank Aval (RBA) is the largest bank in the country in terms of paid-up capital and the second largest in terms of assets.

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United Arab Emirates

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Emirates Bank International

Emirates Bank International (EBI) has undertaken a series of transformational changes in the past 12 months or more, including the announcement and start of a groundbreaking merger with National Bank of Dubai (NBD), which will create the largest bank in the region, Emirates NBD.

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United Kingdom

Royal Bank of Scotland

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United States of America

Bank of America

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Uruguay

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ABN AMRO Uruguay

ABN AMRO Uruguay’s focus in 2006 and in previous years was to grow the value of the local franchise rather than focusing exclusively on the current year’s results.

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Uzbekistan

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Pakhta Bank

Pakhta Bank is continuing its long-term strategy of providing accessible banking services to the core industry of the Uzbek economy, namely the agricultural sector.

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Venezuela

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BBVA Banco Provincial

BBVA Banco Provincial’s growth strategy last year was to strike for a continual improvement in shareholder return, which was achieved within rigid parameters that include interest rate floors and caps for deposits and loans, as well as loan portfolio fixed segmentation.

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Vietnam

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Habubank

Hanoi Building Commercial Joint Stock Bank (Habubank) exceeded all its performance targets last year, with growth rates of 80% to 250% across the business segments.

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Yemen

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National Bank of Yemen

National Bank of Yemen had another successful year with a series of distinguished achievements in all items on the balance sheet.

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Zambia

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Standard Chartered Bank Zambia

Standard Chartered Bank Zambia delivered record results in 2006 and created substantial value for shareholders by undertaking a number of strategic initiatives.

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Zimbabwe

Stanbic Bank zimbabwe

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