Banking Awards 2010

Best Banking Group, Andorra
Banca Internacional Banca Mora

Best Commercial Bank, Angola
BAI

Best Banking Group, Angola
Banco Espirito Santo Angola

Best Investment Bank, Angola
BAI

Best Banking Group, Armenia
ACBA Credit Agricole

Best Investment Bank, Bahrain
First Energy Bank

Best Banking Group, Bangladesh
Janata Bank

Best Banking Group, Belgium
Euroclear

Best Banking Group, Belize
Scotia Bank Belize

Best Banking Group, Bermuda
Banc of Bermuda

Best Commercial Bank, Bolivia
Banco Mercantil Santa Cruz

Best Banking Group, Bolivia
Banco Sol S.A.

Best Investment Bank, Bolivia
Nacional Financiera Boliviana Sociedad de Titularizacion S.A.

Best Commercial Bank, Brazil
Banco Pine S.A.

Best Banking Group, Brazil
Banco BMG

Best Investment Bank, Brazil
UBS Investment Bank Brazil

Best Banking Group, Brunei
Baiduri Bank

Best Banking Group, Cape Verde
Bank Interatlantico

Best Banking Group, Chile
Banco De Credito e Inversiones SA

Best Commercial Bank, China
Shanghai Commercial Bank

Best Banking Group, China
China Merchants Bank

Best Investment Bank, China
China International Capital

Best Banking Group, Colombia
Banco De Bogota

Best Banking Group, Costa Rica
Corporacion BCT

Best Banking Group, Cyprus
Bank of Cyprus

Best Banking Group, Ecuador
Produbanco

Best Financial Group, Egypt
Arab African International Bank

Best Banking Group, Gambia
Standard Chartered Bank

Best Private Bank, Germany
Commerzbank

Best Banking Group, Ghana
Ghana Commercial Bank

Best Private Bank, Greece
EFG Eurobank Ergasias S.A.

Best Banking Group, Greece
Geniki Bank

Best Banking Group, Guatemala
Banco Industrial

Best Private Bank, Hong Kong
HSBC

Best Commercial Bank, Hong Kong
Bank of East Asia

Best Banking Group, Hong Kong
Dah Sing Financial Group

Best Banking Group, Hungary
OTP Bank

Best Banking Group, Israel
Bank Hapoalim

Best Banking Group, Italy
UBI Banca

Best Banking Group, Jamaica
National Commercial Bank of Jamaica

Best Commercial Bank, Indonesia
Bca Indonesia

Best Banking Group, Indonesia
Pt Bank Danamon Indonesia

Best Investment Bank, Indonesia
Mandiri Sekuritas

Most Innovative Bank, Jamaica
National Commercial Bank Jamaica Limited

Best Private Bank, Jordan
Bank of Jordan

Best Banking Group, Jordan
Jordan Islamic Bank

Best Banking Group, Korea
Kb Financial Group

Best Banking Group, Kosovo
Prokredit Bank

Best Banking Group, Kuwait
National Bank of Kuwait

Best Banking Group, Lebanon
BLOM BANK S.A.L.

Best Banking Group, Liberia
Ecobank Liberia

Best Private Bank, Luxembourg
KBL European Private Bankers S.A.

Best Banking Group, Macau
ICBC Macau

Best Commercial Bank, Malaysia
EON Bank Group

Best Banking Group, Malaysia

Public Bank Berhad

Best Private Bank, Malaysia
CIMB Bank

Best Investment Bank, Malaysia
Kenanga Investment Bank

Best Banking Group, Malta
Banif Bank (Malta) plc, member of the Banif Financial Group

Best Banking Group, Mauritius
MCB

Best Commercial Bank, Mexico
Banco Inbursa

Best Private Bank, Mexico
Banca Mifel

Best Investment Bank, Mexico
Banco Interacciones

Best Banking Group, Mexico
Grupo Financiero Banorte

Most Sustainable Bank, Moldova
Moldova Agroindbank

Best Banking Group, Montenegro
Atlas Bank

Best Banking Group, Morocco
BMCI

Best Banking Group, Nepal
Nepal Investment Bank

Best Banking Group, Nigeria
First Bank of Nigeria Plc

Best Banking Group, Norway
DNB Nor

Best Investment Bank, Oman
Oman Arab Bank SAOC

Best Banking Group, Paraguay
Sudameris Bank

Best Commercial Bank, Philippines
Metropolitan Bank and Trust Company

Best Banking Group, Philippines
Bank of the Philippines Islands

Best Private Bank, Philippines
Banco De Oro

Best Banking Group, Poland
BRE Bank

Best Investment Bank, Portugal
Esprito Santo Investment

Best Banking Group, Portugal
Finibanco

Excellence in Structured Finance, Portugal
Banif Banco de Investimento

Best Banking Group, Romania
Banca Transilvania

Best Investment Bank, Russia

Promsvyazbank

Best Banking Group, Saudi Arabia
Bank Albilad

Best Trading Platform, Saudi Arabia
FALCOM Financial Services

Best Investment Bank, Saudi Arabia
FALCOM Financial Services

Best Banking Group, Serbia
Banca Intesa Beograd

Best Banking Group, Singapore
Citibank Singapore Ltd

Best Banking Group, South Africa
Standard Bank

Best Banking Group, Spain
Caja De Ahorros Del Mediterraneo

Best Private Bank, Spain
Banca March

Best Banking Group, Sri Lanka
Bank of Ceylon

Best Banking Group, Sudan
Omdurman National Bank

Best Banking Group, Sub-Saharan Africa
Banco Espirito Santo Angola

Best Banking Group, Swaziland
Standard Bank

Best Banking Group, Sweden
Swedbank

Best Broker, Switzerland
ACM

Best Commercial Bank, Taiwan
Taipei Fubon Commercial Bank



Best Banking Group, Taiwan
China Trust Commercial Bank

Best Banking Group, Tanzania
Stanbic Bank Tanzania

Best Commercial Bank, Thailand
Siam Commercial Bank

Best Banking Group, Thailand
Krung Thai Bank

Best Banking Group, Togo
Ecobank

Best Banking Group, Trinidad & Tobago
First Citizens

Best Banking Group, Tunisia
Banque De Tunisie

Best Banking Group, Turkey
Yapi Kredi

Best Private Bank, Turkey
Yapi Kredi

Best Investment Bank, Turkey
IS Investment

Best Banking Group, Turkmenistan
State Bank for foreign economic Affairs

Best Banking Group, Turks & Caicos
Scotia Bank

Best Banking Group, Uganda
Crane Bank

Best Investment Bank, United Arab Emirates

Abu Dhabi Investment House

Best Commercial Bank, Uruguay
Banco Comercial

Best Banking Group, Uruguay
Banco De La Republica Oriental Del Uruguay

Best Commercial Bank, Vietnam
Asia Commercial Bank

Best Banking Group, Vietnam
Petrovietnam Finance Corporation

Best Banking Group, Yemen
Yemen Commercial Bank

Excellence in Private Banking, APAC Region
ICICI Bank

Best NRI Services Bank
ICICI Bank

Excellence in Remittance Business, APAC Region
ICICI Bank

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The May – June 2013 Issue

Highest corporate tax
rates in Europe

European countries are scrambling to raise every last penny of funds through taxes. But some countries may have gone too far...

Belgium

Though all business taxes in Belgium can be paid online with little effort and preparation, the rates are still sky-high at 57.7 percent, including a staggering 50.8 percent total rate on profits only in social security contributions.

Belarus

In Belarus, a company spends up to 338 hours annually preparing for and paying ten different taxes and duties. The total tax rate has incredibly been lowered to 60.7 percent, from 117.5 percent in 2008.

France

A company in France pays seven different taxes and duties, the sum of which can amount to 65.7 percent of profits; though President François Hollande has announced a wave of business tax rate cuts coming up.

Estonia

A business in Estonia pays 67.3 percent of profits in tax, 37.2 percent exclusively in social security contributions. The country has gone against the grain in Europe by raising businesses taxes from 48.6 percent in 2008 to the current rates.

Italy

While corporate income tax (IRES) in Italy is limited to 38 percent of taxable profit, a company operating in Italy can expect to pay 14 other taxes and duties, including social security contributions, bringing their total payable tax to 68.7 percent of profits, according to the World Bank.

Norway

Norway taxes motor fuels twice, with a road use tax and a CO2 emissions tax. Combined with strikes in the energy sector that have curbed output, the price of gas at a local pump has soared to $10.12 per gallon.

Turkey

Though Turkey sits on the Suez Canal and neighbours many oil rich countries, the price of a gallon of average gas clocks in at $9.41 in Turkish pumps, because of a 60 percent share of taxes. 

Israel

Like Turkey, Israel is surrounded by oil-rich neighbours, but drills very little itself. Gas prices are controlled by the government, so about half of the $9.28 per gallon goes to taxes.

Hong Kong

There are few gas stations in Hong Kong, but the ones available charge up to 76 percent more per gallon than mainland China, where the government caps the cost of fuel. A gallon at the pumps will cost around $8.61 on the island.

Netherlands

Expensive labour costs make the Dutch petrol prices the dearest in Europe, at $8.26 per gallon; though the 57 percent tax add-ons don’t help.

The credit crisis

8 February 2007
HSBC warns of subprime mortgage losses

2 April 2007
New Century goes bus

14 September 2007
Wholesale markets have dried up

17 March 2008
Rescue of Bear Stearns

7 September 2008
Rescue of Fannie Mae

15 September 2008
Lehman Brothers file for bankruptcy

3 October 2008
US congress approves $700bn bailout

14 February 2009
$787bn stimulus approved by congress

 

The effects of the current financial crisis are global and irrefutable. With the collapse of Lehman Brothers, the domino effect of irresponsible public monetary policies, huge levels of unsustainable debt, and a deregulated financial sector, has escalated to the point where no corner of the globe has been left untouched.

1973 oil crisis

October 1973
Syria and Egypt launch an attack on Israel on Yom Kippur and set off a twenty day war;

1977
US President Carter creates Department of Energy, which develops the US strategic petroleum reserve

 

The Organisation of Petroleum Exporting Countries (OPEC) used their oil reserves as a weapon with the Arab Oil Embargo against those who supported Israel. By January 1974, world oil prices were four times higher than they were at the start of the crisis, especially in the US, and the shock led to a huge drop in the stock market with NYSE losing $97bn in just six weeks.  The embargo lasted five months, and the effects are still seen today.

German hyperinflation

1922-1923

Hyperinflation
1923 – 1924
Stabilisation

 

The trouble began when Germany missed a repatriation payment, worth about one third of the German deficit in this period. Inflation was already high but by 1923 it was raging. Prices doubled within hours, and by late 1923, it cost 200bn marks to buy a single loaf of bread. People burned money as it was cheaper than buying firewood. Germany eventually regained control of its economy when it introduced the Rentenmark into circulation in 1923, and then the Reichmark in 1924.

The Great Depression

1929-1933
The Great Crash
1934-1939
Recovery and Recession

 

After the decadence of the Roaring Twenties, the 1930s saw the biggest economic slump of all time. The stock market crashed on 29 October 1929, and optimism and decadent living tumbled along with the figures. The GDP fell from $103.6bn in 1929, to $66bn in 1934 and the subsequent years of recovery were the most dramatic in US history.

1907 bankers’ panic

1907
Otto Heinze and his brother Augustus Heinze bought shares of United Copper.

 

The stock market was already cautious over the tight money supply, but the US was thrown into a depression after the stock market fell nearly 50 percent from its peak in 1906. The Heinze brothers thought they could influence market shares but ended up bankrupting lenders that provided the financing to buy the stock. A chain reaction left nine institutions bankrupt. By February 1908, the panic was over and the government created the Federal Reserve system, to prevent banks from exercising too much control over the economy.