Leadingbanking & finance magazine Global Banking & Finance Reviewhave identified eighteen financial institutions as global bankingand finance awardwinners. The banks that were awarded with global banking and financeawards are: Bank of America, BankFirst (UK), BMO Financial Group,CitiBank, CIBC Securities, Credit Suisse First Boston, Credit SuisseInternational, Equitable PCI USA, Fleet Bank, HSBC Bank, JP MorganChase, MBNA America, Nordea Bank, PNC Bank, Royal Bank of Scotland,Standard Chartered Bank, UBS Wealth Management AG, Wells Fargo Bank,and Xerox Corporation. Following are some brief remarks on each ofthese banks which followed a unique strategy for growth:
*Bank of America: This bank was chosen as one of the global bankingand finance award winners because of its business model expansionglobally. It follows an economy-first philosophy with emphasis oncreating quality corporate services. This bank is the largest USmortgage lender and one of the largest mortgage lenders in Europe. Italso follows a dividend policy that has been regularly rewarded andone of the highest yield investment policies in the industry. TheFDIC insured Bank of America is performing well despite the globaleconomic downturn.
*BankFirst (UK): This bank was named as one of the global banking andfinance award winners because of its management policies which arefocused towards customer satisfaction. In the last two years, theBankFirst achieved its first ever 100% year on year return oninvestment (ROI). The BankFirst has recently announced the launch ofthe Retail Marketing Business, which will be focused at the areas ofelectronic payments, merchant solutions and mobile communications.This is a very successful venture by BankFirst and highlights thefact that a bank can not only focus on its core activities but canalso develop other segments to help it cope up with the changingglobal economy. This international bank was ranked as the thirdlargest in terms of its size in the world, with global banking andfinance being one of its strong points.
*CitiBank (US): This US based global banking and finance award winneris recognized for its excellence in home loans and its consumercredit card business. CITB offers several different products such aschecking, savings, money market and CDs. It also provides a moneymarket account and various investment products. With an extensiveglobal presence, CITB also offers an online banking facility for itsclients. A CITB representative can be reached through a toll freenumber, a website or via e-mails.
*Citibank (US): This global banking & finance award winner isrecognized for its strong financial positioning in the US. Citibankoffers several different products including savings accounts,checking, money market and other consumer credit card accounts.Citibank offers various mortgage services along with housingfinancing. It also has branches in Maryland, Wisconsin and New York.
*PNC Bank (US): Considered as one of the pioneering banks ofPennsylvania PNC Bank is well known for its interest rate policies.As one of the major members of the FHA program, PNC offers low ratesand an easy application process. Apart from offering low interestrates, PNC also offers loan products with highly competitive rates.Its other services that are highly appreciated by its customersinclude insurance, investment and pension services.
*Chase Manhattan Bank (US): One of the premier banks in the US, ChaseManhattan Bank is known for its keen interest rates and other lendingproducts. A notable feature of this bank is that it participates inseveral trade unions, which offer lower interest rates for itsaccounts. The US home loan rate is also comparatively low, owing tothe presence of a large number of home loans in its loan pool. Aglobal banking & finance award may be presented in accordancewith the following criteria: if the candidate was able to excel inaccounting, finance or MBA; if the candidate possesses strongmathematical aptitude and data analysis skills; if the candidatepossesses strong computer skills.
Theseawards aim to recognize those who have made significant contributionsin the field of global banking & finance. There are severalglobal banking & finance awardees who display impressivefinancial acumen, but due to financial constraints, are unable toparticipate in prestigious contests such as Worldcon. Since theexistence of such financial connoisseurs is so rare, such eventsprovide an excellent platform for these individuals to be publiclyacknowledged. They are widely recognized, receive monetary rewards,and can benefit from the mentorship of industry veterans and otherprofessionals.
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