Barclays Bank ZambiaBarclays Bank Zambia embarked on a massive expansion of its branch network in Zambia in 2007 in an attempt to capture market share in an increasingly competitive banking sector. It opened a staggering 40 branches in 2007, bringing its total number of branches in Zambia to 57 across all nine provinces.
Yemen Commercial BankYemen Commercial Bank (YCB), the first private bank established after Yemeni reunification in 1993, had a successful year in 2007 with strong expansion in all major financial indicators at a time when the macroeconomic performance in the relatively undeveloped country was viewed as mixed.
BBVA Banco ProvincialBBVA Banco Provincial has proven that its business model, with a focus on efficient use of capital, cost control and product and service innovation, is able to yield consistent and excellent results. Last year’s winner of Bank of the Year for Venezuela has this year raised the bar yet again, increasing net profits by 107.3%, growing assets by more than 31% and keeping its cost-to-income ratio at just over 42%.
Pakhta BankPakhta Bank’s profits rebounded by 87% in 2007, to almost UzS17bn ($12.64m), helped by a 46% rise in its assets and a reduction in costs. The decision to seek a credit rating from Fitch in 2007 has begun to reap rewards, as the bank was able to tap credit lines from other financial institutions without a government guarantee.
JPMorganFollowing JPMorgan Chase’s dramatic rescue acquisitions of Bear Stearns and Washington Mutual, it would be difficult to ignore the US giant this year. If the US administration appreciates JPMorgan as US bank of last resort, then shareholders must be at least as happy with the business rationale.
Banco SantanderThe acquisition of the Uruguayan assets of last year’s winner has helped Banco Santander into the winning position this year. It consolidates Santander as the biggest privately owned bank in the country, and second largest by assets – beaten only by the state-held Banco Republica.
Emirates NBDEmirates NBD, the resultant entity from the merger of Emirates Bank International and National Bank of Dubai in October 2007, is not only the largest bank in the Middle East by assets, but the new entity has undergone important transformational changes and delivered superior results in 2007 and 2008.
Nova Kreditna banka MariborNova Kreditna banka Maribor’s (NKBM) initial public offering late last year of a 49% stake, the country’s first since independence, was considered the best initial public offering (IPO) in the central and eastern Europe region in the past year by specialist CEE investor East Capital.