Tokyo, Japan, 20 February 2025 – WeBank, Industrial Bank of Korea and Standard Chartered were recognised for leadership in digital, SME and retail banking in Asia Pacific at The Asian Banker Global Excellence in Retail Finance Awards held here.

WeBank was recognised as the Best Digital Bank in China and in Asia Pacific for serving the largest customer base globally, with over 400 million individual customers and 4.5 million micro, small and medium enterprises (MSMEs). This level of scalability enhanced the bank’s cost efficiency, resulting in a cost-to-income ratio (CIR) of 32%, making it the most profitable digital bank in Asia Pacific, with $5.6 billion in revenue and a pre-tax return on equity of 30% in 2023.

WeBank also made significant investments in research and development, with annual technology spending consistently exceeding 9% of revenue. Leveraging artificial intelligence (AI), big data, cloud computing, and blockchain, it provides scalable, secure and efficient services. By 2023, WeBank had launched 36 open-source projects, becoming a global model for fintech collaboration.

Industrial Bank of Korea (IBK) was recognised as Best SME Bank in South Korea and Asia Pacific for its holistic, lifecycle-based approach to supporting small businesses. By integrating financial solutions, strategic advisory services and innovation-driven programmes, IBK has fostered long-term SME growth and resilience. The bank’s Changgong startup incubation programme provides early-stage businesses mentorship, consulting and market access, helping them scale. Meanwhile, its SME M&A Finance Support Package ensures smooth succession planning for businesses transitioning to the next generation.

Standard Chartered received the award for Best Wealth Management Bank in Asia Pacific for redefining wealth management through digital transformation and personalised advisory services, supported by its extensive regional franchise. By leveraging AI-driven portfolio analytics and data-powered investment insights, the bank has enhanced personalisation, strengthened client engagement and improved wealth solutions. Its expansion of dedicated wealth management centres and digital-first client engagement model has boosted digital wealth sales and affluent client acquisition. The hybrid approach combines high-touch relationship management with advanced digital tools for a seamless advisory experience.

Standard Chartered Hong Kong (StanChart HK) won Best Retail Bank in Hong Kong and Asia Pacific for its robust financial growth and market-leading digital adoption. Despite industry headwinds, it achieved strong growth in retail deposits and maintained an industry-leading current account and savings account (CASA) ratio of over 60%, securing a solid low-cost funding base. Its commitment to innovation is shown in record-high digital wealth sales, seamless AI-driven engagement and data-powered advisory services that enhance customer experience and portfolio insights. At the same time, strengthened fraud prevention measures ensure both security and convenience.

Other financial institutions received country or territory-level awards as follows: First Bank of Nigeria for Best SME Bank in Nigeria; Maybank for Best Wealth Management Bank in Malaysia; Baiduri Bank for Best Retail Bank in Brunei; Canadia Bank for Best Retail Bank in Cambodia; China Construction Bank for Best Mega Retail Bank in China; China Construction Bank for Best SME Bank in China; HDFC Bank for Best Retail Bank in India; Bank Central Asia for Best Retail Bank in Indonesia; Access Bank for Best Retail Bank in Nigeria; Bank of the Philippine Islands for Best Retail Bank in the Philippines; Hatton National Bank for Best Retail Bank in Sri Lanka; and Kasikornbank for Best Retail Bank in Thailand.

Likewise, the following institutions received recognitions: CTBC Bank for Best Retail Bank in Taiwan; BIDV for Best Retail Bank in Vietnam; HSBC for Best SME Bank in Hong Kong; State Bank of India for Best SME Bank in India; Hong Leong Bank for Best SME Bank in Malaysia; Nedbank for Best SME Bank in South Africa; E.Sun Bank for Best SME Bank in Taiwan; VietinBank for Best SME Bank in Vietnam; and Bank of China (Hong Kong) for Best Wealth Management Bank in Hong Kong.

Additionally, the following financial institutions were given country or territory-level accolades: Union Bank of the Philippines for Best Wealth Management Bank in the Philippines; Cathay United Bank for Best Wealth Management Bank in Taiwan; United Overseas Bank for Best Retail Bank and Best SME Bank in Singapore; OCBC for Best Wealth Management Bank in Singapore; Siam Commercial Bank for Best SME Bank in Thailand; and Bank Rakyat Indonesia for Best SME Bank in Indonesia.

Customer-centric products were also recognised in the retail finance category: StanChart HK for Credit Card Product for Travellers; Kasikornbank for Green Retail Finance Initiative; CTBC Bank for Credit Card Product for High Net-Worth Individuals and Growth Strategy in Digital Banking Initiative; Hong Leong Bank for Branch Banking Initiative; Nedbank for Growth Strategy in Digital Banking Initiative in; E.Sun Bank for Digital Credit Evaluation Initiative; HSBC Singapore for Credit Card Product for Cash Back; and Al Rajhi Bank for Customer Loyalty and Rewards Initiative.

In addition, Mashreq Bank for Digital Account Opening and Onboarding Service; Bahrain Development Bank for Employee Engagement Initiative; Bank of China (Hong Kong) for Home Loan Financing Product; Hong Leong Finance for Automobile Financing Product; Maya Bank for Deposit Product; Perbadanan Tabung Amanah Islam Brunei for Islamic Deposit Product; Hang Seng Bank for Mobile Banking Service; and OCBC for Digital Payment Service.

Finally, OCBC for Employee Engagement Initiative; OCBC for Personalisation Initiative; ICBC for Digital Account Opening and Onboarding Service; ICBC for Digital Wealth Management Initiative; Bank of East Asia for Digital Brand Initiative; Ant International for Merchant Service; GXS Bank for Digital Ecosystem and Platform Initiative, and Omnichannel Integration Initiative; RHB Bank for Customer Experience Initiative; WeBank for AI/GenAI Application in SME Marketing Initiative; Ping An Bank for AI/GenAI Application in Retail Marketing Initiative; Ping An Bank for Automation, Efficiency and Productivity Initiative, Chatbot/Voice Banking Service, Customer Loyalty and Rewards Initiative; and TP Bank for Social Banking Initiative.

For more information about the Excellence Awards Programme, please visit.