Standard Bank NamibiaNamibia’s oldest commercial bank delivered a sound set of results in 2007, after a weaker 2006. Net profits increased 94% during the course of the year, which compares to a drop in profit growth of 26% in 2006. Standard Bank Namibia returned 28.6% on equity, up from 18.5% last year, and grew its assets by 6%.
Scotiabank (Turks & Caicos)In the past 18 months, Scotiabank (Turks & Caicos) strengthened its position in the retail and commercial markets with a suite of six new products and services. By September 2008, more than 1500 new accounts had been opened. This year it also launched its private bank – Scotia Private Client Group – and opened the first ‘cashless’ entity, which will focus on new accounts, lending products and financial planning.
Republic Bank LimitedCommanding sizeable market share in both loans and deposits, Republic Bank continues to perform well in Trinidad and Tobago. With an asset base of $5.98bn in 2007, Republic recorded a profit after tax and minority interest of $214m. This represented a 110% increase over the previous year’s performance.
Ecobank TogoEcobank goes from strength to strength. In 2007 it cemented its position as one of the leading pan-African banks and can feel justly proud of its achievements across the continent. Net profits grew by 61%, the bank’s asset base ballooned by 87% and Tier 1 capital grew by a solid 35%.
Siam Commercial BankIn a country bursting with innovative banking operations, Siam Commercial Bank (SCB) continues to stand out. Thailand’s third largest player grew its net profits by an impressive 30.6% during fiscal year 2007, boosted by a programme to restructure its small and medium-sized enterprises (SME) business line.
Chinatrust Commercial BankCore to Chinatrust Commercial Bank’s business growth has been the expansion of a fee-based business model, which includes a broad range of fee-generating wealth management products, credit cards, trade finance offerings, cash management services and capital markets products.
SwedbankBy continued expansion eastward, Swedbank has maintained its successful international strategy that has generated strong growth in recent years. The acquisition of TAS-Kommerzbank in Ukraine and continued buoyant growth in all international operations were major factors that drove profits up 10.3% in 2007.