Banking

On the road to recovery

The forecast for the global banking industry for 2011 is looking relatively stable, albeit uneven in places

World Finance Banking Awards part II 2011

A stable, reliable vehicle is vital when driving down a rocky road; so it is with market uncertainty. Emerging markets have been revealing their star institutions, accustomed as they are to enduring financial instability. In developed markets, better dealing of structural debt by governments has seen finance for infrastructure and investment return. These factors in mind, the World Finance editorial board conducted in-depth analyses into different sectors and specialisms; looking at innovation, the commercial and private sphere, and outstanding individual performance. Congratulations to the winners; the full list, including part I from the May-June issue, is available on www.worldfinance.com.
Best Banking Group in Argentina Banco BICE Best Commercial Bank in Argentina BBVA Banco Frances Best Banking Group in Australia ANZ Best Investment Bank in Australia Macquarie Bank Best Private Bank in Australia BT Financial Group Best Banking Group in Austria Bank Austria Unicredit Best Banking Group in Azerbaijan Eurobank Best Banking Group in the Bahamas First Caribbean International Bank Best Private Bank in the Bahamas CIBC Trust Company Ltd Best Commercial Bank in the Baltics Lavijas Krajbanka Best Investment Bank in the Baltics LHV Bank Most Innovative Bank in the Baltics Baltic International Bank Best Commercial Bank in Bangladesh Islami Bank Bangladesh LTD Best Banking Group in Belarus Belagropombank Best Commercial Bank in Belarus Belarus Bank Best Banking Group in Bermuda HSBC Bank Bermuda Ltd

Best Private Bank in Brazil HSBC Best SME Bank in Brazil Banco Industrial do Brasil Best Banking Group in Brunei Baiduri Bank Best Private Bank in Canada BMO Harris Private Banking Best Investment Bank in Chile Celfin Capital Best Banking Group in China Bank of China Best Commercial Bank in China China Construction Bank Best Investment Bank in China China International Capital Best Private Bank in China China Merchants Bank Best Banking Group in Colombia Banco de Bogot Best Banking Group in the Czech Republic Cheskoslovenska Obchodni Bank Best Banking Group in Ecuador Banco Del Pichincha Best Banking Group in France Crdit Mutuel-CIC Best Banking Group in Germany Deutsche Bank Best Banking Group in Greece Pireaus Bank SA Best Commercial Bank in Greece ATE Bank Best Private Bank in Greece Eurobank EFG Best Banking Group in Guatemala GYT Continental Best Banking Group in Hong Kong CITIC Bank International Best Private Bank in Hong Kong CITIC Bank International Best Banking Group in Hungary OTP Bank Best Commercial Bank in Hungary Post Bank Most Innovative Bank in Hungary GRNIT Bank Zrt. Best Banking Group in India Bank of Baroda Best Private Bank in India ICICI Bank Limited Most Innovative Bank in India Punjab National Bank

Best Banking Group in Indonesia Bank Mandiri Best Commercial Bank in Indonesia PT Bank CIMB Niaga Best Investment Bank in Indonesia PT Bank CIMB Securities Best Private Bank in Indonesia DBS (Bank Indonesia) Best Banking Group in Israel Bank Leumi Best Banking Group in Italy Unicredit Best Commercial Bank in Italy Intesa Sanpaolo Best Banking Group in Japan Mizuho Banking Group Best Investment Bank in Japan Daiwa Capital Markets Securities Co Ltd Best Commercial Bank in Jordan Cairo Amman Bank Most Innovative Bank in Jordan Jordan Investment and Financial Bank Best Banking Group in Korea Standard Chartered Best Investment Bank in Korea Samsung Securities Best Banking Group in Kuwait Ahli United Bank Best Commercial Bank in Kuwait Commercial Bank Kuwait Best Investment Bank in Kuwait Ahli United Bank Best Private Bank in Kuwait Burgan Bank Most Innovative Bank in Kuwait Boubyan Bank Most Sustainable Bank in Lebanon BankMed Excellence In Trade Finance in Lebanon BankMed Best Private Bank in Luxembourg KBL European Private Bankers Best Banking Group in Malaysia Public Bank Berhad Best Investment Bank in Malaysia OSK Investment Bank Best Private Bank in Malaysia CIMB (Private Banking) Best Banking Group in Mexico Banco Inbursa Grupo Financiero Inbursa Best Investment Bank in Mexico Banco Interacciones

Best Private Bank in Mexico Banca Mifel Grupo Financiero Mifel Best Banking Group in Mongolia Khan Bank Best Banking Group in Namibia FNB Best Private Bank in the Netherlands ABN Amro Best Banking Group in New Zealand Kiwi Bank Best Banking Group in Nicaragua Banpro Grupo Promerica Best Banking Group in Pakistan Allied Bank Limited Best Investment Bank in Pakistan KASB Bank Limited Best Banking Group in Panama BLADEX Best Banking Group in Peru Banco De Credito Best Banking Group in the Philippines Security Bank Best Commercial Bank in the Philippines Rizal Commercial Banking Corporation Best Investment Bank in the Philippines First Metro Investment Corporation Best Private Bank in the Philippines Banco De Oro Private Bank Best Banking Group in Portugal Banco Totta Santander Best Banking Group in Qatar Doha Bank Best Commercial Bank in Qatar Commercial Bank of Qatar Best Banking Group in Russia Open Joint Stock Company Promsvyazbank Best Commercial Bank in Russia Open Joint Stock Company BANK URALSIB Best Private Bank in Russia Soyuz Bank Most Innovative Bank in Russia Open Bank Best Commercial Bank in Saudi Arabia United Saudi Commercial Bank Best Investment Bank in Saudi Arabia Al Rajhi Banking & Investment Corporation Most Innovative Bank in Saudi Arabia Bank Aljazira Best Banking Group in Singapore United Overseas Bank

Best Commercial Bank in Singapore United Overseas Bank Best Investment Bank in Singapore DBS VIckers Securities Best Private Bank in Singapore United Overseas Bank Best Banking Group in Spain Santander Best Commercial Bank in Spain BBVA Most Innovative Bank in Sri Lanka Nations Trust Bank Best Banking Group in Taiwan Fubon Financial Best Commercial Bank in Taiwan Bank of Taipei Best Investment Bank in Taiwan KGI Securities Best Private Bank in Taiwan Fubon Financial Best Banking Group in Thailand Krung Thai Bank Best Commercial Bank in Thailand Bank of Ayudha Best Investment Bank in Thailand Bualuang Securities Best Banking Group in Turkey Yapi Kredi Best Commercial Bank in Turkey Bank Asya Best Investment Bank in Turkey Garanti Securities Best Commercial Bank in the UAE Abu Dhabi Commercial bank Best Banking Group in the UAE First Gulf Bank Best Investment Bank in the UAE Mashreq Bank Most Innovative Bank in the UAE Commercial Bank of Dubai Best Banking Group in Uruguay Banco Republica Del Uruguay Best Banking Group in Venezuela Banco Mercantil Universal Best Banking Group in Vietnam Techombank Best Commercial Bank in Vietnam Asia Commercial Bank Best Private Bank in Vietnam HSBC Bank (Vietnam)

This year has been marked by a relatively positive mood in the banking sector. Banks in the UAE and the nearby Gulf nations have steadily wangled themselves out of the tight grip of the global recession and fiscal and regional debt default problems, with full recovery predicted before the end of the year, according to Moodys Investment Service. On US shores, meanwhile, the situation is also looking rather good, albeit a bit patchy in localised areas. Business bounced back at most major US banks in 2010, and most big names lining Wall Street and Main Street have displayed improved health ever since. Investment bank JPMorgan Chase saw net profits in 2010 leap 48 percent from the previous year to $17.4bn, and its good fortunes with raising revenues have continued steadily into 2011. California-based Wells Fargo is also doing well, as is Citigroup which returned a profit of $10.6bn in 2010 after a $1.6bn loss in 2009, largely due to fewer loan losses. Also on something of a roll is Morgan Stanley, which suffered major losses in 2009 but successfully returned to the black in 2010 with a profit of $3.6bn. On the other side of the fence, Goldman Sachs and Bank of America have displayed the most notable fragility and are still recovering from the big losses they faced in 2010. Despite the upbeat mood overall, private banks are likely to see the pace of economic recovery slow in 2011, says the Confederation of British Industry (CBI). Although the UK will continue to distance itself from the gloom of the recession over the coming months, it will occur at a slower pace than previously estimated. This could result in a dip in activity for private banks, as individuals with personal wealth are likely to seek to consolidate their assets and may not be too tempted to get involved in complex wealth management strategies. To give the private banking sector a new lease of life, the

CBI recommends the government focuses on areas of the economy that drive growth, as well as supporting small businesses and bringing in a more highly-skilled workforce. Europes debt crisis shouldnt be underestimated either, and towards the end of the first quarter, the struggling European regions affected financial stocks and saw Britains top share index plummet. Greek, Spanish and Portuguese bond yields spurred speculations that Greece will eventually need to restructure its debt. Further, Moodys cut its debt ratings on Irish banks.

California-based Wells Fargo is doing well, as is Citigroup which returned a profit of $10.6bn in 2010 after a $1.6bn loss in 2009, largely due to fewer loan losses
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