The banking sector across Asia has weathered the storm far better than Western economies. By learning from the lessons of the Asian financial crisis of 1997, the banking sector of the East has re-built its foundation on a stable platform that not only held its own through the 2007 global crisis but is also poised for further rapid growth over the next few years.   

The financial sector of the Asia region has become sophisticated and industrious and is firmly focussed on innovation and development when it comes to meeting the evolving demands of financial and banking-services customers. With Asian and Australian banks fulfilling global regulatory requirements to a significant degree in advance of the international changes, the sector has been focussed on growth, whilst Western counterparts have been expending resources on restructuring to meet the requirements. For example, most Australasian banks have capital-adequacy ratios with buffers beyond those required by regulation and in general also fare better in this ratio than Western banks.  

By improving the infrastructure of financial and banking services across Asia, the sector continues to boost connectivity with the larger business community and service a wider net of clients and their various needs. The increased services have helped facilitate investment, integration and inclusion across Asia, crucially driving the region and its financial sector further forward. Trade both between Asian countries and between Asia and the global marketplace has been growing at a rapid pace. Furthermore, the Asian region is expected to play an increasing role in terms of global productivity over the next decade, and the banking sector will be expanding alongside commensurately – servicing growth at every step.  Asian output is expected to account for more than 30 percent of global GDP by 2023, compared to 22 percent currently. Further, the size of global banking-sector assets held by Asian financial institutions is forecast to rise to more than 30 percent from 18 percent over the same period of time. 

The growth in Asian output has been so large that major Australian banks have been increasingly expanding into the Asian marketplace – with several large Australian banks now applying aggressive expansion strategies across the Asian continent to meet growing client- and business-banking needs.  For example, ANZ (Australia and New Zealand Banking Group) has been setting up substantial retail-lending operations as well as buying into regional banks across Asia. Meanwhile, two other major Australian banks, Westpac and the National Bank of Australia, have been focussing on cross-border trade between Australian businesses and Asian businesses to capture growth in this area. 

The Australian banking sector has been booming, allowing growth and searches for new opportunities within Asia to complement domestic profit-making.  In 2013, Australian banks made approximately $12 billion in fees. Further to this, research produced by the Reserve Bank has shown that banks’ incomes from fees from Australian households and businesses rose by 2.6 percent to reach $11.6 billion in 2013. Added to this, during 2012-2013, the big four banks made upwards of $27 billion in profits, making Australia’s banking sector one of the most successful globally for this period. Growth in the Australian banking sector is stemming from an increased provision of loans and increased consumer spending and borrowing in the region resulting from economic growth.  

The International Banker 2014 Banking Awards recognises the best banking institutions and individuals in the Asian and Australian region that have set the bar for industry excellence. The 2014 Banking Awards recognises the institutions that drive global economic commerce, create capital within their regions and opportunities for economic growth, while maintaining a high level of regulatory compliance and corporate governance. The outstanding institutions working with retail, commercial, investment and private banking are recognised, as well as a special award to an outstanding CEO in each region.

 >>>ASIA AWARD WINNERS 

               BANKING CEO OF THE YEAR                  
Asia
Dato’ Sri Zukri Samat
Bank Islam Malaysia Berhad

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BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR
Asia
Bank Islam Malaysia Berhad

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Best Banking Group Bangladesh
ICB Banking Group

Best Banking Group Japan
Mitsubishi UFJ

Best Banking Group India
ICICI

Best Banking Group South Korea
Hana Financial Group

Investment Bank of the Year Japan
Nomura Holdings

Investment Bank of the Year Malaysia
AmInvestment Bank

Investment Bank of the Year China
CCB International

Investment Bank of the Year India
Kotak Investment Banking

Commercial Bank of the Year India
HDFC Bank

Commercial Bank of the Year Cambodia
Vattanac Bank

Commercial Bank of the Year Myanmar
United Amara Bank

Commercial Bank of the Year Philippines
UnionBank of the Philippines

Commercial Bank of the Year Japan
Shizuoka Bank

Commercial Bank of the Year Indonesia
Bank Mandiri

Commercial Bank of the Year China
Bank of China

Commercial Bank of the Year Vietnam
Bank for Investment and Development
of Vietnam (BIDV)

Private Bank of the Year Singapore
Bank of Singapore

Private Bank of the Year China
Bank of China

Private Bank of the Year India
HDFC

Private Bank of the Year South Korea
Shinhan Bank

Innovation in Retail Banking China
Industrial and Commercial Bank of China
Limited (ICBC)

Innovation in Retail Banking Cambodia
Vattanac Bank

Innovation in Retail Banking Myanmar
United Amara Bank

Innovation in Retail Banking Philippines
UnionBank of the Philippines

Innovation in Retail Banking India
HDFC Bank

Innovation in Retail Banking Japan
Bank of Yokohama

Innovation in Retail Banking Indonesia
Bank Mandiri

Best Islamic Bank Malaysia
Bank Islam Malaysia Berhad

Best Islamic Bank Bangladesh
ICB Islamic Bank

Best Islamic Bank Pakistan
Meezan Bank

Best Islamic Bank Indonesia
Syariah Mandiri

Best Practice Investor Relations China
Industrial and Commercial Bank of China
Limited (ICBC)

Best Practice Investor Relations India
Axis Bank

Best Practice Investor Relations Japan
Mitsubishi UFJ Financial Group

Best Practice Investor Relations
South Korea
Hana Financial Group

Best Practice Investor Relations
Indonesia
Bank Central Asia

 >>>AUSTRALASIA AWARD WINNERS  

BANKING CEO OF THE YEAR
Australasia
Michael Smith
Australia and New Zealand Banking Group

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BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR
Australasia
National Australia Bank Limited

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Best Banking Group Australia
Australia and New Zealand Banking Group

Investment Bank Of The Year Australia
J.P. Morgan

Investment Bank Of The Year New Zealand
Cameron Partners

Commercial Bank Of The Year Australia
Commonwealth Bank of Australia

Commercial Bank Of The Year New Zealand
Kiwibank

Private Bank Of The Year New Zealand
Bank of New Zealand

Innovation In Retail Banking Australia
National Australia Bank Limited

Innovation In Retail Banking New Zealand
Co-operative Bank New Zealand

Best Practice Investor Relations Australia
National Australia Bank Limited

Best Practice Investor Relations New Zealand
Kiwibank