Switzerland's last major bank has reason to celebrate: UBS was honored with eight awards at the prestigious Euromoney Awards for Excellence 2024 yesterday, including Best Bank in the World, Best Bank in Western Europe, Best Bank in Switzerland, and Best Swiss Investment Bank.

With Credit Suisse's exit from the market, there was notably a lack of a strong competitor in the latter category. According to Euromoney, the rescue of Credit Suisse was a crucial factor in UBS being named the «World’s Best Bank,» essentially earning it the crown. This move is credited with averting a potential systemic crisis. «UBS was also recognized for its prudent actions during the important acquisition weekend in March 2023, particularly with regard to the protection of its stakeholders,» reads the proud award winner's press release.

Traditional Criteria Also Taken Into Account

The awards also recognized UBS's solid financial performance, consistent achievement of shareholder goals, and significant commitment to customers. Additionally, the rapid progress in integrating Credit Suisse into UBS was positively acknowledged.

The Euromoney Awards for Excellence, established in 1992, see participation from over 600 banks across nearly 100 countries each year.