Awards
Barbados
Barbados National BankStrong overall figures have secured Barbados National the award for best bank in the country. With net profits increased by more than 44% year-on-year, a 18.57% return on equity and assets values continuing to grow, Barbados National Bank has demonstrated strong, well rounded growth and the determination to lead the banking market.
BAHRAIN
Gulf International BankGulf International Bank (GIB) is the leading domestic merchant bank in the Gulf Cooperation Council (GCC) region and regional leader in various fields, particularly as a leading provider and arranger of project and structured finance in the region and also in corporate advisory.
The Bahamas
Bank of The Bahamas InternationalBank of The Bahamas International’s successful performance has been reflected in good overall growth, return to positive profit increase and double-digit ROE. The bank is growing at a fast pace, planning to expand outside the country and with assets that have gone from £193m in 1999 to just below £400m earlier in 2005.
Austria
Raiffeisen Zentralbank ÖsterreichRaiffeisen Zentralbank Österreich has showed an extraordinary profit growth that has more than doubled its results from the previous year. In the highly competitive Austrian market, RZB’s return on equity has also significantly improved, spiralling to an impressive 27.4%.
Zimbabwe
Standard Chartered Bank ZimbabweThe chaos wreaked by President Robert Mugabe’s pernicious political and economic policies makes any considered analysis of Zimbabwe’s banks difficult. Three-digit inflation and an artificially maintained exchange rate mean that profit growth, even in foreign currency terms, can be bamboozling.
Venezuela
Banco MercantilExceptional profit increase and strong asset growth have made Banco Mercantil the best bank in Venezuela. Net profits have risen by more than 50%, ROE reached almost 40% and assets have grown by 41.5%. Such outstanding financial performance and increased size strengthen Banco Mercantil’s leading position in the country.
Uruguay
Banco de la República Oriental del UruguayLast year signalled the return to profitability for Banco de la República Oriental del Uruguay (BROU), after the 2002 banking crisis affected banks’ assets severely. BROU has successfully overcome the liquidity crisis and has been able to retain a high level of deposits.
TURKEY
Koç Financial ServicesKoç Financial Services (KFS), a 50/50 joint venture between Turkish conglomerate Koç Holding and Italy’s UniCredit, showed strong asset and profit growth in 2004 as well as a healthy 22.7% ROE. But the key factor behind winning the Bank of the Year award was its brave acquisition of Yapi Kredi Bankasi (YKB), Turkey’s fourth largest bank.