Banking Awards 2021 - CLINCARR ...

Banking Awards 2021
After a year like no other, banking is accelerating its evolution to meet
new and heightened expectations. It is without doubt that a recovery in
the market to pre-pandemic levels will take time, but some banks are
in a better position than others to meet the challenges ahead

2021 | BANKING AWARDS | WORLD FINANCE AWARDS

July 1, 2021

It seems like every 10 years there is a singular, transformative event that
dramatically shifts how the entire world works and lives. In 2020 we learnt
exactly what that moment is for the coming decade. The COVID-19 pandemic
was both completely predictable and totally unexpected; there had been many
years of warnings that such an event was possible, but the timing and scale
came as a shock. As the virus crept around the world, shutting down economies
in its wake, many could only watch and wait until the unstoppable tide reached
them.
The Award for the Banker for the year was awarded to:
Africa: Segun Agbaje, Guaranty Trust Bank
Latin America: Roberto Sallouti, BTG Pactual
Very interesting , you may say. Continue reading to see the full list of the
banking awards for 2021by World Finance.

Click here to view the World Finance Banking Guide 2021
Today, however, things are starting to look different. Vaccine rollouts are well
under way and there is light at the end of the tunnel. While there are certainly
months, if not years, of management and mitigation to go, a predictable
outcome is emerging that necessitates future planning, particularly in the
financial sector. However, the world’s banks have a lot of challenges to contend
with. Recognizing the extreme financial toll that was put on people and
businesses, governments across the globe deployed a multitude of financial
stimulus policies to keep economies ticking over.
In many ways, the situation is somewhat similar to what was seen a decade ago
during the Global Financial Crisis. While the GFC was self-inflicted by the
financial sector, with long-term fixes being largely focused on regulatory
changes, the industry-wide scale of the threat is comparable. Although, this
financial stimulus cannot go on forever, which poses significant challenges that
only the best banks will be able to successfully navigate.
Close a window, open a door
While there are plenty of reasons to be optimistic about the future, it is not

without difficulties. A major one is potential credit losses combined with a
muted economic recovery. According to McKinsey’s 2020 Global Banking
Annual Review, depending on the recovery rate, between $1.5trn and $4.7trn in
banking revenue could be lost between 2020 and 2024. This suggests that global
banking’s return on investments will not return to pre-crisis levels for at least
five years. This poses significant challenges in the medium term.
Another factor is how long the stimulus being provided by governments can
continue. Writing for AMP Capital’s 2021 global banks outlook, Andrea Jaehne
explained that stimulus packages and regulatory flexibility have played an
instrumental role in keeping banks afloat, but at a cost: “However, we believe
the unnecessary extension of looser regulation or even a final removal of the
improved standards since the GFC could fuel risks that may eventuate over the
next years and could lead to negative rating actions, although we expect banks’
management teams to be mindful of the rating implications,” Jaehne wrote. “We
believe that current strong capital levels of the largest European and North
American banks could weaken once we see actual credit losses start to
materialise.”
Calvin Zeng, Deloitte China financial services industry Audit & Assurance
partner issued a similar forecast. “According to our forecasts, global banks are
expected to provision for $318bn in net loan losses between 2020 and 2022.
Unemployment is expected to climb much higher than during the global
financial crisis of 2008–2010 as the pandemic continues,” Zend said at the
release of Deloitte’s 2021 banking and capital markets outlook: Strengthening
resilience, accelerating transformation report. “Meanwhile, yields are
anticipated to remain below historical levels. The pandemic is set to pose an
unprecedented challenge to banks’ asset quality and profitability. Banks in
North America and Europe won’t recover to 2019 levels anytime soon, with
APAC banks only getting near 2019’s pre-COVID return on equity of 9.2
percent by 2022.” While banks should be able to rebuild their lost capital, the
situation will be challenging in the years ahead .

Exposing the cracks
With in-person business rendered impossible for many throughout the
pandemic, people turned to digital systems to get jobs done. While digital
transformation has been a work-in-progress at banks for many years now, the
pandemic provided an imperative to speed it up. It quickly became apparent
which businesses had been successful in their transformations, and which had
not. According to Deloitte’s 2021 survey of senior banking and capital markets

executives, 79 percent of respondents agreed that the pandemic uncovered
shortcomings in their digital capabilities. Additionally, 95 percent of
respondents said their institutions are already implementing or planning to
accelerate a digital transformation of their services to maintain operational
resilience.
You Zhong Bin, Deloitte Consulting Data Science Center of Excellence leader,
said the pandemic has been something of a litmus test. “Institutions that made
strategic investments in technology will come out stronger, but laggards might
still be able to leap ahead if they take swift action to accelerate tech
modernisation. In many institutions, digital inertia has faded: there is now more
appetite for technology-driven transformation, especially in core systems.”
Still, the value of front-end digital systems remains high, particularly as
regulators continue to look at the expansion of financial services provided by
non-financial institutions. “If banks can grasp this opportunity and provide
seamless digital experiences, in addition to their existing advantages in capital
and credibility, they will be able to take the lead in competition,” You Zhong
Bin said. Ultimately, it will be up to each individual bank to decide where their
digital evolution needs to be prioritised.
Preparedness for the future is a concern for all banks, but the winners in this
year’s World Finance Banking Awards are particularly notable in their regions.
All of the winners have demonstrated years of best practice, and are in an ideal
situation to meet the coming challenges head on. Congratulations to the
winners.

World Finance Banking Awards 2021
BEST BANKING GROUPS
Brunei Baiduri Bank
Chile Banco Internacional
Dominican Republic Banco Popular Dominicano
Egypt Banque Misr
France Crédit Mutuel
Germany Commerzbank
Ghana Zenith Bank Ghana
Hong Kong HSBC
Israel Israel Discount Bank
Jordan Jordan Islamic Bank

Kosovo BKT
Macau ICBC (Macau)
Nigeria Guaranty Trust Bank
Pakistan Meezan Bank
Saudi Arabia Riyad Bank
Turkey Akbank
UK Barclays

BEST INVESTMENT BANKS
Brazil BTG Pactual
Chile BTG Pactual
Colombia BTG Pactual
Dominican Republic Banreservas
Hong Kong Jefferies
Kazakhstan Tengri Partners
Nigeria Coronation Merchant Bank

BEST PRIVATE BANKS
Austria Erste Private Banking
Belgium KBC Private Banking
Brazil BTG Pactual
Canada BMO Private Wealth
Czech Republic CSOB Private Banking
Denmark Jyske Bank
France BNP Paribas Banque Privée
Germany Berenberg
Greece Eurobank
Hungary Erste Bank
Israel Credit Suisse
ItalyBNL BNP Paribas
Liechtenstein Kaiser Partner
Liechtenstein (Best multi-Client Family Office) Kaiser Partner
Monaco CMB Monaco
Netherlands ING
Poland Bank Pekao
Spain CaixaBank

Sweden Carnegie Private Banking
Switzerland Pictet
Turkey TEB Private Banking
UK HSBC
US Bank of America Private Bank

BEST COMMERCIAL BANKS
Austria Raiffeisen Bank International
Belarus Belagroprombank
Belgium KBC
Canada BMO Bank of Montreal
Colombia Davivienda
Czech Republic Ceska Sporitelna
Denmark Nykredit
Dominican Republic Banreservas
France BNP Paribas
Germany Landesbank Baden-Wurttemberg
Hungary OTP Bank
Macau Bank of China
Netherlands ING
Nigeria Zenith Bank
Norway Handelsbanken
Poland Bank Pekao
Sri Lanka Sampath Bank
Sweden Handelsbanken
Turkey (Most Sustainable Bank) Industrial Development Bank of Turkey
United States Bank of the West
Vietnam Sai Gon J.S. Commercial Bank

BEST RETAIL BANKS
Austria BAWAG Group
Azerbaijan AccessBank
Belarus Belarusbank
Belgium KBC
Bulgaria Postbank
Denmark Nykredit

Dominican Republic Banreservas
France BNP Paribas
Germany DKB
Greece Eurobank
Hungary OTP Bank
Italy Intesa Sanpaolo
Macau Bank of China
Mexico Banorte
Netherlands ING
Nigeria Guaranty Trust Bank
Norway Handelsbanken
Pakistan Meezan Bank
Poland Bank Pekao
Portugal Santander Portugal
Spain Banco Bilbao Vizcaya Argentaria
Sri Lanka Sampath Bank
Turkey Garanti BBVA
Uzbekistan Asakabank

MOST INNOVATIVE BANKS
Africa Guaranty Trust Bank
Asia Hong Leong Bank
Europe QNB Finansbank
Latin America Banco Popular Dominicano
Middle EastMashreq
Greece Most Innovative Savings Bank Eurobank
Macau Best Cash Management Services Bank of China
Nigeria (Most Sustainable Bank) Access Bank
Thailand (Most Sustainable Bank) Krungthai Bank

BANKER OF THE YEAR
Africa Segun Agbaje, Guaranty Trust Bank
Latin America Roberto Sallouti, BTG Pactual

Source: World Finance News