New York, March 18, 2014
magazine has announced its annual awards for the World’s Best Banks in Developed Markets. A full report on the selections will appear in the May issue of
, along with selections for the World’s Best Banks in Emerging Markets and the Best US Regional Banks. 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
, 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. In addition, for the first time, a poll of
’s corporate readership was conducted in order to increase the accuracy and reliability of the results.
Banks were invited to submit entries supporting their selection. Objective criteria considered included: 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.
“The banks that
is honoring set themselves apart by anticipating and responding to the specific needs of their customers, which vary greatly from country to country and region to region,” said Joseph D. Giarraputo, publisher and editorial director of
. “With the recovery from the financial crisis moving along slowly, these banks have performed the best under very difficult conditions.”