Home AWARDS The International Banker 2020 North & South American Awards Winners

The International Banker 2020 North & South American Awards Winners

by internationalbanker

The United States’ biggest banks once again enjoyed a bumper year in 2019, led by JPMorgan Chase. The top banks easily exceeded analyst expectations, as the year ended with a strong rebound in trading revenue. According to JPMorgan Chase, its fourth-quarter profit increased by 21 percent to $8.52 billion, while managed revenue rose 9 percent to $29.2 billion, easily above the $27.94-billion estimate. According to the bank’s chief executive officer, Jamie Dimon, revenue achieved a fourth-quarter record, as strong trading revenue offset the squeezed margins in retail and commercial banking on the back of falling interest rates during the year. “JPMorgan Chase produced strong results in the fourth quarter of 2019, capping off a solid year for the firm where we achieved many records, including record revenue and net income,” Dimon noted.

According to the investment-banking and financial-services company Canaccord Genuity, Canadian banks will underperform in 2020, as a fall in lending activity drags down earnings. “Essentially, the banks will be lending less and at lower margins. That’s probably the toxic mix for the downside risks to earnings estimates,” said Martin Roberge, director of Canaccord’s North American portfolio strategy. Commercial-loan growth will also slow, prompting a further rise in banks’ loan-loss provisions, the firm observed. And Roberge noted that record levels of consumer debt will constrain mortgages and personal loans, despite growing evidence that the housing market is stabilising.

There has been much recent activity in the digital-banking space in Mexico. With only 40 percent of the 130 million Mexicans having bank accounts and not even 15 percent of consumers having access to bank lending, digital-bank start-ups are seeing a major opportunity to access the 70 million unbanked and underbanked inhabitants in the country. Early February saw Mexican challenger bank Stori announce a $10-million Series A financing round, co-led by Bertelsmann Investments and Source Code Capital and joined by existing investor Vision Plus Capital. Stori is promoting mobile money over a branch network in order to attract more customers into the Mexican banking system. The company has also launched a credit card with digital features and, to date, has raised more than $17 million.

Spanish start-up Bnext is also expanding into Mexico and is now rolling out its product, initially to the 170,000 people who signed up to the company’s waiting list. Bnext is creating for consumers an alternative option to traditional bank accounts, whereby they can open an account in minutes using a mobile app.

A recent report from German consultancy Roland Berger revealed that Brazil’s biggest five banks will have to reduce their costs by at least R$24 billion (US$5.7 billion) over the coming three years. Private-sector banks Banco Itaú, Banco Bradesco and Santander Brasil, and public lenders Banco do Brasil and Caixa (Caixa Econômica Federal), must lower costs by an equivalent of 10 percent, as falling interest rates in Brazil have weighed on net interest margins.

The banks “need to start a new wave of efficiency”, according to António Bernardo, Roland Berger’s managing partner and regional head for Latin America. That said, cost-cutting measures are already being implemented, especially by private banks. Banco Bradesco, for instance, closed 50 branches during the second half of last year and anticipates closing an additional 400 by the end of this year. Indeed, all banks except Caixa plan to cut their brick-and-mortar presence during 2020.

Argentina’s central bank recently announced that it is prepared to support the Treasury in order to finance the country’s external debt in the “context of the economic and social emergency”. The country’s government is under pressure due to substantial debt repayments this year, with $9 billion required for private-sector lenders, a further $4 billion for the public sector and $2.7 billion for multilateral institutions. More than $10 billion of this total is denominated in foreign currency. With the government lacking the financial resources to comfortably make such payments, therefore, the central bank has stated its need “to exceptionally assist the Treasury to honour external debt under prudent limits, as well as in financing payments in local currency”.

Chile is now pressing for its banks to arrange its second euro green-bond offering, having become the first Latin American country to sell green bonds last year. For the second offering, it is mandating BNP Paribas, Santander and Société Générale to lead a 20-year green benchmark. The security is expected to raise €500 million, with proceeds to be used to fund the government’s transportation ambitions. Chile’s head of international finance, Andrés Pérez, disclosed in December that the country’s $3.3-billion worth of external financing requirements for this year may well be entirely sourced from the issuance of green bonds.

 

 >>>NORTH AMERICA AWARD WINNERS  

 

               BANKING CEO OF THE YEAR                  
North America
Mr. David I. McKay

Royal Bank of Canada (Canada)

**********

BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR

North America
Chase (United States)

**********

Best Investment Bank Of The Year Canada
RBC Capital Markets

Best Investment Bank Of The Year Mexico
Banco Santander México

Best Investment Bank Of The Year United States
Goldman Sachs

Best Commercial Bank Of The Year Canada
Royal Bank of Canada

Best Commercial Bank Of The Year Costa Rica
Banco de Costa Rica (BCR)

Best Commercial Bank Of The Year El Salvador
Banco Davivienda

Best Commercial Bank Of The Year Honduras
Grupo Financiero Ficohsa

Best Commercial Bank Of The Year Mexico
BBVA Bancomer

Best Commercial Bank Of The Year Panama
Banco General

Best Commercial Bank Of The Year Saint Lucia
1st National Bank St. Lucia Limited

Best Commercial Bank Of The Year Trinidad and Tobago
Republic Bank

Best Commercial Bank Of The Year United States
M&T Bank

Best Private Bank Of The Year Mexico
Santander

Best Private Bank Of The Year United States
Morgan Stanley

Best Innovation In Retail Banking Canada
Royal Bank of Canada

Best Innovation In Retail Banking Costa Rica
Banco de Costa Rica (BCR)

Best Innovation In Retail Banking El Salvador
Banco Agrícola

Best Innovation In Retail Banking Jamaica
First Global Bank Limited

Best Innovation In Retail Banking Honduras
Banco Atlántida

Best Innovation In Retail Banking Mexico
BBVA Bancomer

Best Innovation In Retail Banking Saint Lucia
1st National Bank St. Lucia Limited

Best Innovation In Retail Banking Trinidad and Tobago
First Citizens

Best Innovation In Retail Banking United States
Chase

 

 

 

 >>>SOUTH AMERICA AWARD WINNERS  

 

BANKING CEO OF THE YEAR
South America
Mr. Eduardo Cesar Campos Marín

Banco Basa (Paraguay)

**********

BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR

South America
Produbanco (Ecuador)

**********

Best Banking Group Colombia
Grupo Aval

Best Investment Bank Of The Year Brazil
Itaú BBA

Best Commercial Bank Of The Year Argentina
Banco Galicia

Best Commercial Bank Of The Year Bolivia
Banco Bisa

Best Commercial Bank Of The Year Brazil
Banco Bradesco

Best Commercial Bank Of The Year Chile
Scotiabank

Best Commercial Bank Of The Year Colombia
Grupo Bancolombia

Best Commercial Bank Of The Year Ecuador
Banco del Pacífico

Best Commercial Bank Of The Year Paraguay
Banco Basa

Best Commercial Bank Of The Year Peru
Banco de Credito del Peru

Best Commercial Bank Of The Year Uruguay
BBVA Uruguay

Best Private Bank Of The Year Brazil
Itaú Private Bank

Best Private Bank Of The Year Chile
Banco de Chile

Best Private Bank Of The Year Colombia
Bancolombia

Best Innovation In Retail Banking Argentina
Banco Galicia

Best Innovation In Retail Banking Bolivia
Banco Ganadero

Best Innovation In Retail Banking Brazil
Nubank

Best Innovation In Retail Banking Chile
Banco Santander

Best Innovation In Retail Banking Colombia
Banco de Bogotá

Best Innovation In Retail Banking Ecuador
Produbanco

Best Innovation In Retail Banking Paraguay
Banco Basa

Best Innovation In Retail Banking Uruguay
Banco Itaú

Best Practice Investor Relations Chile
Banco de Crédito e Inversiones (BCI)

 

 

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