This year’s edition is the 29th since Global Finance launched annual awards for the World’s Best Banks.
The winners of this year’s awards are banks that attended carefully to their customers’ needs in difficult markets and accomplished strong results while laying the foundations for future success.
Bank of Kigali is among honorees for the year 2022 from 36 African countries.
Winners have been chosen in more than 150 countries and territories across Africa, Asia-Pacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe.
The overall Best Bank in Africa is Standard Bank. Other banks that emerged winners in respective countries include Bank of Kigali in Rwanda, Centenary Bank in Uganda, CRDB Bank in Tanzania, CAC International Bank in the Democratic Republic of Congo (DRC) while NCBA was ranked the best bank in Kenya.
All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting these top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective.
The Global Finance has also indicated that the overall Best Bank in the World will be announced in the summer and published in October, along with the Best Global Banks in more than a dozen key categories.
In light of the existing situation in Ukraine, Global Finance has decided not to assign Best Bank awards in countries directly involved in the current conflict.
“With the financial world in a state of turmoil from Russia’s invasion of Ukraine, corporate leaders face a new set of challenges concerning the choice of their banking relationships,” said Joseph
D. Giarraputo, publisher and editorial director of Global Finance. “Following on the enormous difficulties wrought by the pandemic, these changes demand increased attention to global commercial relationships. Our awards support decision-makers in selecting the best financial partners.”
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.
Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.