NEW YORK, February 17, 2010 – Global Finance magazine (www.gfmag.com) has announced its annual awards for the World’s Best Banks in Developed Markets. A full report on the selections will appear in the April issue of Global Finance. The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished better results while laying the foundations for future success.
All selections were made by the editors of Global Finance, after extensive consultations with bankers, corporate financial executives and analysts throughout the world. In selecting these top banks, we considered factors that range from the quantitative objective to the informed subjective. Banks were invited to submit entries supporting their selection. Amid nominally objective criteria were growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.
The mix of these factors yields leading banks that may not be the largest, the oldest or the most diversified in a given country, but rather the best — the banks with which corporations around the world would most likely want to do business. Winners were selected in 25 countries. This year, winners were not selected in Iceland and Ireland.
“We recognize these banks for their outstanding accomplishments,” says Global Finance’s publisher, Joseph D. Giarraputo. “Global financial markets are extremely difficult and conditions in each market may have differed but the winning banks were all noteworthy in their dedication to satisfying their customers’ needs.”
Global Finance names the World’s Best Developed Market Banks 2010