Taiwan

First Commercial Bank While other market players were struggling to meet past performance, First Commercial Bank successfully increased its profitability in a particularly challenging year.

Switzerland

UBSThe past year has proved particularly profitable for UBS’s shareholders. The bank achieved a 39.4% RoE and distributed a total pay-out of SFr3.80 ($3) per share, including a repayment that allowed shareholders to benefit from the gain from the sale of UBS’s private banks and GAM business.

Sweden

SwedbankThe successful implementation of Swedbank’s expansion plans internationally and the reinforcement of its domestic presence has increased profitability and its potential to grow.

Swaziland

Standard Bank

Spain

Grupo SantanderWith a strong international presence and phenomenal profit growth, Grupo Santander is once again The Banker’s choice in Spain. Its integration of recently purchased Abbey and its IT system is a success story in its own right.

South Korea

Kookmin Bank Kookmin Bank increased its net income by almost 5.5 times from the previous year, when it was just turning its books to black.

South Africa

NedbankThe numbers speak for themselves. Nedbank, South Africa’s fourth largest bank, has been turned around. After plunging to a R1.3bn ($180m) loss in 2003, the group reported a R4.3bn profit in 2005.

Slovenia

Nova Ljubljanska bankaNova Ljubljanska banka has continued to consolidate its position as Slovenia’s largest international financial group and, with strong results and acquisitions, has become a considerable force in the region.

Slovakia

VUB BankaVUB banka maintained its highly profitable course, showing a 33.8% increase in net profits in 2005 and a strong 18.7% RoE. The bank regards itself as the most cost-efficient bank in the market, reducing its cost/income ratio to 58.8%.

Singapore

OCBC BankOCBC Bank does not lack ambition: as part of its expansion strategy, last year it increased its stake in leading Singaporean and Malaysian insurance group GEH from 49% to 83%, and launched an offer earlier this year for the remaining shares.

Serbia

Raiffeisen bankaIn 2005, Raiffeisen banka continued to strengthen its leading position, recording a high market share of between 15% and 20% in all key business categories, and achieving a 33.6% growth in net profits as well as a healthy 30.6% RoE.

Saudi Arabia

Al Rajhi BankAl Rajhi, the largest Islamic bank in the world, had an outstanding year in 2005, not only with significant financial achievements, but also with developments outside Saudi Arabia.

Rwanda

Banque Commerciale du Rwanda

Russia

RosbankWith the consolidation of the OVK banking group in 2004-05, Rosbank has been transformed from a large wholesale financial institution into a large universal bank with a special focus on retail.

Qatar

Doha Bank

Puerto Rico

Santander BanCorpSantander BanCorp has taken two crucial initiatives to improve shareholder return. First, it has maintained a sharp focus on profitability, achieved through an emphasis on client-derived business and the acquisition of Island Finance, a leading consumer finance company in Puerto Rico.

Portugal

Banco Santander TottaUsing its low cost/income ratio, the lowest in the country, Banco Santander Totta has been able to market competitive products in targeted segments.

Poland

BRE BANKAfter unsatisfactory results between 2002 and 2004, BRE Bank, under new management and with a new strategy, achieved a dramatic improvement in results in 2005.

Philippines

Bank of the Philippine IslandsBank of the Philippine Islands (BPI) has once again demonstrated it is the leader in its domestic market with great profit growth and successful expansion strategies.

Pakistan

Allied Bank