Global Finance’s 27th annual awards for the World’s Best Banks honor winners in more than 150 countries and seven global regions, as well as eight regions in the US.
The coming year is certain to be challenging for banks worldwide. Economic setbacks stemming from the Covid-19 crisis could prompt them to take a closer look at credit quality and tighten lending standards to contain nonperforming loans in hard-hit sectors. Meanwhile, low and negative interest rates and yield-curve inversions, a product in part of central banks’ efforts to contain the economic fallout, are challenging bank profitability. And societal concerns about such issues as climate change and banks’ commitment to socially responsible policies have come to the fore.
Even before the novel coronavirus fastened its grip, Deloitte’s 2020 banking industry outlook predicted that banks would be forced to set new social priorities and sacrifice short-term gains for long-term sustainability. “The low-growth scenario, in particular, could result in a drastic reduction in banking capacity, with fewer banks than we have today