World Front News

(WorldFrontNews Editorial):- London, United Kingdom Sep 15, 2023 (Issuewire.com) – The 2023 EBM’s ‘Best Bank of The Year Awards’ on www.europeanbusinessmagazine.com in the Emerging Europe and Eurasia section aimed to establish a benchmark of financial excellence in the region of emerging Europe and Eurasia. The prestigious awards sought to recognize top-performing and fastest-growing players in each market of the region, increasing the visibility of outstanding financial institutions.

The banks participating in the 2023 awards underwent evaluation by European Business Magazine’s editorial board in consultation with global and regional industry experts. The evaluation process was based on applications submitted by banks as well as open sources. The criteria considered by the jury included financial performance, client focus, utilization of innovative technologies, and the introduction of new products.

These awards covered banks primarily operating in the following eligible countries: Albania, Armenia, Azerbaijan, Belarus, Bosnia & Herzegovina, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Montenegro, Macedonia, Russia, Serbia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.

The award results can be found at http://europeanbusinessmagazine.com/awards.

Below are the winners of the “Best Bank of The Year” from each country:

Albania – Banka Kombëtare Tregtare (BKT)

Established in 1925, BKT has transformed in recent years, offering innovative solutions through its 94 branches in Albania and Kosovo. BKT, the largest domestic lender by assets, recorded an 8.4% asset increase in 2022 and a 21% retail lending growth.

Armenia – Ameriabank

Ameriabank, established in 1910, consistently achieved progress across all sectors in the preceding year. With a 13% net profit increase in H1 2023 and an ROE of 25.3%, the bank is dedicated to innovative financial services.

Azerbaijan – ABB (Azeri International Bank)

Established in 1992, ABB is one of the prominent banks in the South Caucasus region. In H1 2023, ABB achieved a 38.5% increase in net profit. The bank aims to fortify its market position and meet consumer demands.

Belarus – Priorbank

Established in 1989 and acquired by RBI in 2003, Priorbank holds a prominent position within the Belarusian financial sector. In 2022, its profit increased by 111%, showcasing adaptability and effective digital channels.

Bosnia and Herzegovina – UniCredit Bank d.d. Mostar

Established in 2008, UniCredit Bank d.d. Mostar offers a full range of services and holds a leading position in Bosnia and Herzegovina. The bank recorded a 27.7% net profit increase in 2022.

Georgia – TBC Bank

Originally founded in 1992, TBC Bank consistently delivers robust profitability. With an ROE of 28.1% as of end H1 2023, the bank focuses on digital solutions with over 7 million users.

Kazakhstan – Kaspi Bank

Founded in 2002, Kaspi Bank has become a prominent player in Kazakhstan’s financial scene. In Q2 2023, the bank recorded a 51% y/y revenue growth, serving 13.2 million daily users.

Kyrgyzstan – Optima Bank

Established in 1992, Optima Bank shows a commitment to staying updated and enhancing service quality. In Q2 2023, the bank recorded a 111% increase in ROE.

Moldova – Maib (Moldova Agroindbank)

Founded in 1991, Maibank is Moldova’s largest commercial bank, with a 19% ROE increase in H1 2023. The bank focuses on digital innovation, offering services such as peer-to-peer transfers and online marketplaces.

Montenegro – CKB

Established in 1997, Crnogorska Komercijalna Banka (CKB), a member of the OTP group, holds a prominent position as a leading bank in the country. Net profit doubled y/y in H1 2023.

Macedonia – Stopanska Banka

Established in 1944 as the country’s inaugural bank, Stopanska Banka AD – Skopje possesses the longest-standing tradition in the Macedonian market. The bank maintains a strong capital adequacy ratio of 16.6% in 2022.

Russia – Tinkoff

Established in 2006, Tinkoff Bank has redefined Russia’s banking landscape. With an ROE of 35.5% in H1 2023, the bank focuses on innovative AI Banking and supporting startups.

Serbia – Banca Intesa Beograd

The bank’s origins trace back to 1991 when it emerged as one of the earliest private banks in Serbia. With a capital adequacy ratio of 19.5% in 2022, the bank emphasizes digitalization and ESG principles.

Tajikistan – Eskhata Bank

Founded in 1993, Eskhata Bank stands as a significant player in Tajikistan’s financial realm. Net profit tripled in 2022, and the bank offers mobile banking services.

Turkmenistan – Halkbank

Established in 1923, Halkbank offers a comprehensive array of services in Turkmenistan. The bank focuses on enabling businesses to sell online and offers payment solutions.

Ukraine – PrivatBank

Established in 1992, Privatbank holds the title of Ukraine’s largest bank, with a net income that rose almost fivefold in H1 2023. The bank offers mobile banking services and innovative payment solutions.

Uzbekistan – Sanoat Qurilish Bank

Established in 1922, Sanoat Qurilish Bank (SQB) plays an active role in Uzbekistan’s various economic structural shifts. Total assets grew 13% in 2022, and the bank focuses on modernizing the economy and supporting SMEs.

This article was originally published by IssueWire. Read the original article here.