2021 Banks of the Year Awards

LatinFinance is pleased to announce the launch of its 2021 Banks of the Year Awards program. Institutions may submit nominations for this year’s awards beginning on Monday, July 26. All nominations must be received by 11:59 PM ET on Sunday, August 8.

The eligibility period for this year's awards is July 1, 2020–June 30, 2021. The categories, rules and criteria are listed below. You may begin preparing your submissions before the nomination period officially opens by clicking on the "Required data" tab for a full list of fields that will need to be completed.

Visit the LatinFinance Awards nomination portal to submit your entries. You may also sign up to receive email alerts and reminders.

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The LatinFinance 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 are based upon published results during the eligiblity period of July 1, 2020, through June 30, 2021.


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

  1. Bank of the Year
  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 Venezuela
  7. Bank of the Year Peru
  8. Bank of the Year Chile
  9. Bank of the Year Ecuador
  10. Bank of the Year Uruguay
  11. Bank of the Year Paraguay
  12. Bank of the Year Bolivia
  13. Bank of the Year Panama
  14. Bank of the Year Central America
  15. Bank of the Year Guatemala
  16. Bank of the Year Costa Rica
  17. Bank of the Year El Salvador
  18. Bank of the Year Honduras
  19. Bank of the Year Nicaragua
  20. Bank of the Year Dominican Republic
  21. Bank of the Year Caribbean
  22. Bank of the Year Trinidad and Tobago
  23. Bank of the Year Jamaica
  24. Bank of the Year Andes (Bolivia, Colombia, Ecuador, Peru, Venezuela)
  25. Bank of the Year Southern Cone (Argentina, Chile, Paraguay, Uruguay)
  26. Investment Bank of the Year Brazil
  27. Investment Bank of the Year Mexico
  28. Investment Bank of the Year Colombia
  29. Investment Bank of the Year Chile
  30. Investment Bank of the Year Peru
  31. Multilateral Development Bank of the Year
  32. Microfinance Institution of the Year
  33. Digital Bank of the Year
  34. Digital Transformation of the Year
  35. Wealth Management Bank of the Year
  36. SME Bank of the Year
  37. Sustainable Finance Bank of the Year


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. Verifiable actions taken by the bank to meet the challenges of the COVID-19 pandemic for itself and its customers
  4. Overall approach to sustainable/ESG finance and banking practices
  5. 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.


Winners will be announced in a special supplement published November 1, 2021, with additional coverage in the Q1 2022 issue of LatinFinance Magazine


All entries must be submitted through the official nomination form at awards.latinfinance.com by 11:59 PM ET on Sunday, August 8, 2021. 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, 2018–
June 30, 2019

July 1, 2019–
June 30, 2020

Year-over-year growth (%)

July 1, 2020–
June 30, 2021

Year-over-year growth (%)

Net profit



















June 30, 2019

June 30, 2020

Year-over-year growth (%)

June 30, 2021

Year-over-year growth (%)

Total loans












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


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.

Previous winners: 2020, 2019, 2018, 2017, 2016, 2015