2024 Banks of the Year Awards

The Banks of the Year Awards celebrate the financial institutions in Latin America and the Caribbean that best demonstrated excellence in retail, commercial and investment services in the last year. This year’s awards will be based upon published results during the eligibility period of July 1, 2023, through June 30, 2024. The winners are determined by LatinFinance’s editorial staff following an exhaustive selection process.

Categories

Following are the provisional categories for this year’s Banks of the Year Awards:

1. Bank of the Year Latin America
2. Bank of the Year Mexico
3. Bank of the Year Brazil
4. Bank of the Year Argentina
5. Bank of the Year Colombia
6. Bank of the Year Peru
7. Bank of the Year Chile
8. Bank of the Year Ecuador
9. Bank of the Year Uruguay
10. Bank of the Year Paraguay
11. Bank of the Year Bolivia
12. Bank of the Year Panama
13. Bank of the Year Central America
14. Bank of the Year Guatemala
15. Bank of the Year Costa Rica
16. Bank of the Year El Salvador
17. Bank of the Year Honduras
18. Bank of the Year Nicaragua
19. Bank of the Year Dominican Republic
20. Bank of the Year Trinidad and Tobago
21. Bank of the Year Jamaica
22. Investment Bank of the Year Mexico
23. Investment Bank of the Year Brazil
24. Investment Bank of the Year Argentina
25. Investment Bank of the Year Colombia
26. Investment Bank of the Year Chile
27. Investment Bank of the Year Peru
28. Multilateral Development Bank of the Year
29. Digital Bank of the Year
30. Digital Transformation of the Year
31. Wealth Management Bank of the Year
32. SME Bank of the Year
33. Sustainable Finance Bank of the Year

Criteria

The Banks of the Year Awards will be judged on these factors:

1. Financial data for banks over the reference period (including but not limited to total assets, capital ratio, return on equity, return on assets)
2. Market opinion including analyst and rating agency comment
3. Overall approach to sustainable/ESG finance and banking practices
4. LatinFinance editorial evaluation

Selection Process

The Banks of the Year Awards are decided by LatinFinance’s editors, following an extensive research process. The key elements of each step of the process are outlined below.

Market opinion

LatinFinance will consult a range of market participants to gain perspective on the shortlist, including portfolio managers, credit analysts and other market participants.

Market opinions are kept strictly confidential and will not be disclosed.

Examination of financial data

LatinFinance will review official financial data for each of the shortlisted or nominated banks. As is relevant to each category, sources will include but not be limited to: materials submitted as part of the entry nomination, financial reports and accounts, company presentations, stock exchange filings and LatinFinance reporting. Data will include but not be limited to: capitalization levels, total asset numbers, return on assets, return on equity and transaction details.

Editorial evaluation

The LatinFinance editorial team will supplement its examination of financial data and information with information from bank analysts and clients. This will be sourced through a review of analyst reports and in-depth telephone interviews.

The LatinFinance editorial team retains discretion over the final allocation of awards in each category.

Announcement

Winners will be announced in a special supplement published November 2024, with additional coverage in the Q1 2025 issue of LatinFinance Magazine.

Nominations

All entries must be submitted through the official nomination form at awards.latinfinance.com by 11:59 PM ET on Sunday, July 14, 2024. Please note the entry deadline is final. The system will automatically prevent entry submission after the deadline.

Each nomination will require data fields to be filled in correctly before a nomination can be submitted. Failure to provide the proper information can lead to disqualification.

Each nomination will have the ability to also include additional documents to support the entry, but this does not replace filling in of the required fields with the data that is being sought for evaluation. In this special section you can provide an outline of qualitative information describing the ways your institution has grown, achieved success and stayed ahead of the competition, as well as any other relevant qualitative data the institution wants to make available for the judging process.

Required Data

The following data tables must be completed for all nominations:

	July 1, 2021– June 30, 2022	July 1, 2022– June 30, 2023	Year-over-year growth (%)	July 1, 2023– June 30, 2024	Year-over-year growth (%)
Net profit
ROE
ROA

	June 30, 2022	June 30, 2023	Year-over-year growth (%)	June 30, 2024	Year-over-year growth (%)
Total loans
Deposits
Total assets
NPLs/gross loans (%)
Tier–1 capital (%)

Additional questions

For all categories:

1. How has your institution adapted to the current pandemic environment? (up to 750 words)
2. Why do you believe that your institution is worthy of an award? (up to 1,000 words)

For Digital Bank of the Year

• Number of customers for the awards period vs. previous period 
• Please describe any new innovative products launched by the bank during the awards period 
• Please tell us about one new technological application the bank introduced to service customers 
• Please list any additional activities you want to be considered by the editorial team along with a brief explanation 

For Sustainable Finance Bank  of the Year

• Please tell us about one strategic initiative program or transformation your bank carried out during the awards period
• Please tell us in detail about one new innovative financing product your bank launched during the awards period
• Please list any additional activities you want to be considered by the editorial team along with a brief explanation.

Support

If you have any questions on the entry process, please email awards@latinfinance.com and put “Banks of the Year Awards” in the subject line.