Banking Awards 2011

Best Investment Banks

Best Investment Bank in Australia
Macquarie Bank

Best Investment Bank in the Baltics
LHV Bank

Best Investment Bank in Chile
Celfin Capital

Best Investment Bank in China
China International Capital

Best Investment Bank in France
BNP Paribas

Best Investment Bank in Indonesia
PT Bank CIMB Securities

Best Investment Bank in Japan
Daiwa Capital Markets Securities Co Ltd

Best Investment Bank in Korea
Samsung Securities

Best Investment Bank in Kuwait
Ahli United Bank

Best Investment Bank in Malaysia
OSK Investment Bank

Best Investment Bank in Mexico
Banco Interacciones

Best Investment Bank in Oman
Oman Arab Bank SAOC

Best Investment Bank in Pakistan
KASB Bank Limited

Best Investment Bank in the Philippines
First Metro Investment Corporation

Best Investment Bank in Portugal
Espirito Santo Investment Bank

Best Investment Bank in Russia
VTB Capital

Best Investment Bank in Saudi Arabia
Al-Rajhi Bank

Best Investment Bank in Singapore
DBS VIckers Securities

Best Investment Bank in Switzerland
UBS

Best Investment Bank in Taiwan
KGI Securities

Best Investment Bank in Thailand
Bualuang Securities

Best Investment Bank in Turkey
Garanti Securities

Best Investment Bank in the UAE
Mashreq Bank

Best Investment Bank in the UK
Barclays Capital

Best Investment Bank in Vietnam
Viet Dragon Securities

Best Banking Groups

Best Banking Group in Andorra
Banc Internacional d’Andorra – Banca Mora (BIBM)

Best Banking Group in Angola
Banco Millennium Angola, S.A.

Best Banking Group in Belarus
Belagroprombank

Best Banking Group in Brazil
Banco Bradesco

Best Banking Group in Cape Verde
Banco Interatlântico

Best Banking Group in Chile
Corp Banca

Best Banking Group in Cyprus
Bank of Cyprus

Best Banking Group in Denmark
Nordea Bank

Best Banking Group in Iceland
Arion Bank

Best Banking Group in Iran
Bank Pasargad

Best Banking Group in Jamaica
National Commercial Bank Jamaica Limited

Best Banking Group in Jordan
Jordan Islamic Bank

Best Banking Group in Laos
ANZ Laos

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

Best Banking Group in Liechtenstein
LGT Group

Best Banking Group in Luxembourg
EFG Group

Best Banking Group in Macau
ICBC Macau

Best Banking Group in Macedonia
Komercijalna Banka AD Skopje

Best Banking Group in Malta
Banif Bank (Malta) Plc

Best Banking Group in Morocco
Attijariwafabank

Best Banking Group in Mozambique
Banco Millennium Mozambique

Best Banking Group in the Netherlands
ING Bank

Best Banking Group in Nigeria
First Bank of Nigeria

Best Banking Group in Norway
Nordea Bank

Best Banking Group in Oman
Oman Arab Bank SAOC

Best Banking Group in Paraguay
Sudameris Bank

Best Banking Group in Slovakia
Slovenska Sporitelina

Best Banking Group in Sweden
Nordea Bank

Best Banking Group in Syria
Syria Gulf Bank

Best Banking Group in Tunisia
Banque Internationale Arabe de Tunisie

Best Banking Group in the UK
Santander Bank

Best Banking Group in the Ukraine
Privatbank

Best Banking Group in the USA
PNC Bank

Best Banking Group in Argentina
Banco BICE

Best Banking Group in Australia
ANZ

Best Banking Group in Austria
Bank Austria – Unicredit

Best Banking Group in Azerbaijan
Eurobank

Best Banking Group in the Bahamas
First Caribbean International Bank

Best Banking Group in the Baltics
Rietumu Bank

Best Banking Group in Belarus
Belagropombank

Best Banking Group in Bermuda
HSBC Bank Bermuda Ltd

Best Banking Group in Brunei
Baiduri Bank

Best Banking Group in China
Bank of China

Best Banking Group in the Czech Republic
Cheskoslovenska Obchodni Bank

Best Banking Group in Ecuador
Banco Del Pichincha

Best Banking Group in France
Crédit Mutuel-CIC

Best Banking Group in Germany
Deutsche Bank

Best Banking Group in Greece
Pireaus Bank SA

Best Banking Group in Guatemala
GYT Continental

Best Banking Group in Hong Kong
CITIC Bank International

Best Banking Group in Hungary
OTP Bank

Best Banking Group in India
Bank of Baroda

Best Banking Group in Indonesia
Bank Mandiri

Best Banking Group in Israel
Bank Leumi

Best Banking Group in Italy
Unicredit

Best Banking Group in Japan
Mizuho Banking Group

Best Banking Group in Korea
Standard Chartered

Best Banking Group in Malaysia
Public Bank Berhad

Best Banking Group in Mauritius
Standard Chartered Bank

Best Banking Group in Mexico
Banco Inbursa – Grupo Financiero Inbursa

Best Banking Group in Mongolia
Khan Bank

Best Banking Group in Namibia
FNB

Best Banking Group in New Zealand
Kiwi Bank

Best Banking Group in Nicaragua
Banpro – Grupo Promerica

Best Banking Group in Pakistan
Allied Bank Limited

Best Banking Group in Panama
BLADEX

Best Banking Group in Peru
Banco De Credito

Best Banking Group in the Philippines
Security Bank

Best Banking Group in Portugal
Banco Totta Santander

Best Banking Group in Qatar
Qatar National Bank

Best Banking Group in Russia
Open Joint Stock Company Promsvyazbank

Best Banking Group in Singapore
United Overseas Bank

Best Banking Group in Spain
Santander

Best Banking Group in Taiwan
Fubon Financial

Best Banking Group in Thailand
Krung Thai Bank

Best Banking Group in Turkey
Yapi Kredi

Best Banking Group in the UAE
Emirates NBD

Best Banking Group in Uruguay
Banco Republica Del Uruguay

Best Banking Group in Venezuela
Banco Mercantil Universal

Best Banking Group in Vietnam
Techombank

Best Commercial Banks

Best Commercial Bank in Angola
Banco Espirito Santo Angola

Best Commercial Bank in Bolivia
Banco Mercantil Santa Cruz

Best Commercial Bank in Brazil
Banco Pine S.A.

Best Commercial Bank in Colombia
BANCO POPULAR

Best Commercial Bank in Mexico
Grupo Financiero Banorte

Best Commercial Bank in Argentina
BBVA Banco Frances

Best Commercial Bank in the Baltics
Lavijas Krajbanka

Best Commercial Bank in Bangladesh
Islami Bank Bangladesh LTD

Best Commercial Bank in Belarus
Belarus Bank

Best Commercial Bank in China
China Construction Bank

Best Commercial Bank in Greece
ATE Bank

Best Commercial Bank in Hungary
OTP Bank

Best Commercial Bank in Indonesia
PT Bank CIMB Niaga

Best Commercial Bank in Italy
Intesa Sanpaolo

Best Commercial Bank in Jordan
Cairo Amman Bank

Best Commercial Bank in Kuwait
Commercial Bank Kuwait

Best Commercial Bank in Mozambique
BCI

Best Commercial Bank in the Philippines
Rizal Commercial Banking Corporation

Best Commercial Bank in Qatar
Doha Bank

Best Commercial Bank in Russia
Open Joint Stock Company BANK URALSIB

Best Commercial Bank in Saudi Arabia
United Saudi Commercial Bank

Best Commercial Bank in Singapore
United Overseas Bank

Best Commercial Bank in Spain
BBVA

Best Commercial Bank in Taiwan
Bank of Taipei

Best Commercial Bank in Thailand
Bank of Ayudha

Best Commercial Bank in Turkey
Bank Asya

Best Commercial Bank in the UAE
Abu Dhabi Commercial Bank

Best Commercial Bank in Vietnam
Asia Commercial Bank

Most Innovative Banks

Most Innovative Bank in Azerbaijan
International Bank of Azerbaijan

Most Innovative Bank in Greece
Black Sea Trade and Development Bank

Most Innovative Bank in Indonesia
Bank BRI

Most Innovative Bank in Korea
Daegu Bank

Most Innovative Bank in Portugal
Banco ActivoBank SA

Most Innovative Bank in the Baltics
Baltic International Bank

Most Innovative Bank in Hungary
GRÁNIT Bank Zrt.

Most Innovative Bank in India
Punjab National Bank

Most Innovative Bank in Jordan
Jordan Investment and Financial Bank

Most Innovative Bank in Kuwait
Boubyan Bank

Most Innovative Bank in Russia
Open Bank

Most Innovative Bank in Saudi Arabia
Bank Aljazira

Most Innovative Bank in Sri Lanka
Nations Trust Bank PLC

Most Innovative Bank in the UAE
Commercial Bank of Dubai

Best Private Banks

Best Private Bank in Canada
BMO Harris Private Banking

Best Private Bank in Germany
Berenberg Bank

Best Private Bank in Spain
BANCA MARCH

Best Private Bank in Switzerland
Credit Suisse Group

Best Private Bank in Australia
BT Financial Group

Best Private Bank in the Bahamas
CIBC Trust Company Ltd

Best Private Bank in Bermuda
Bermuda Commercial Bank

Best Private Bank in Brazil
HSBC

Best Private Bank in Canada
BMO Harris Private Banking

Best Private Bank in China
China Merchants Bank

Best Private Bank in Greece
Eurobank EFG

Best Private Bank in Hong Kong
CITIC Bank International

Best Private Bank in India
ICICI Bank Limited

Best Private Bank in Indonesia
DBS (Bank Indonesia)

Best Private Bank in Kuwait
Burgan Bank

Best Private Bank in Luxembourg
KBL European Private Bankers

Best Private Bank in Malaysia
CIMB (Private Banking)

Best Private Bank in Mauritius
AfrAsia Bank

Best Private Bank in Mexico
Banca Mifel – Grupo Financiero Mifel

Best Private Bank in the Netherlands
ABN AMRO MeesPierson

Best Private Bank in the Philippines
Banco De Oro Private Bank

Best Private Bank in Singapore
United Overseas Bank

Best Private Bank in Taiwan
Fubon Financial

Best Private Bank in Vietnam
HSBC Bank (Vietnam)

Other Awards

Best Bank in Bolivia
BancoSol S.A.

Best Investment Management Firm in Portugal
Banif Investment Bank

Most Sustainable Bank in Lebanon
BankMed

Excellence in Trade Finance in Lebanon
BankMed

Investment Banker of the Year in Bolivia
Jaime Dunn de Avila at BDP Sociedad de Titularizacion SA

Best SME Bank in Brazil
Banco Industrial do Brasil

Best CEO Banker in Brazil
Ricardo Guimaraes at Banco BMG

Best Bank in Colombia
Banco de Bogotá

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Top 5

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.

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