Komercni Rated Best Bank in Czechia and One of the World’s Top 100 Banks

Photo by Hunters Race on Unsplash

NEWS PROVIDED BY

PARTNER CONTENT

Lafferty Group

August 3, 2020, 22:00 GMT

London, August 3 —- Komercni is ranked as the best bank in Czechia in a global ranking of 1000 of the world’s quoted banks in the inaugural issue of THE STATEMENT, a new banking magazine launched by the London-based Lafferty Group. Komercni is also ranked as one of the top 100 banks in the world and scores particularly highly for Digital Transformation.

Czech banks are on average rated higher than the banks in Germany, Hungary, Poland, Russia, the UK, Ukraine and the US.

The research is generated from the LAFFERTY 1000 global banking database, which scores the one thousand banks for quality across 21 metrics and rates them from 1-star for the weakest to 5-stars for the best. Other findings include:

· Only 5 of the 1000 banks receive 5-star ratings and all are based in emerging markets

· With three exceptions, the mainly universal banking giants of Europe, North America, Japan and China that are designated as “globally significant” by the Bank for International Settlements (BIS) are rated from poor to average at best.

· Italy’s UniCredit comes bottom of the group, with a 1-star rating.

These findings contradict the view, long held in the financial industry that the UK and the US are the leading countries for industry achievement.

THE STATEMENT is a new Lafferty Group digital banking magazine. It is being established at the height of the economic, financial and human crises caused by the global coronavirus pandemic in order to help progressive banks and bankers find a new way ahead for the industry.

The magazine takes as its starting point the current state of 1000 of the world’s largest quoted banks and rates each of them for their quality and sustainability using 21 metrics – from financial performance to how they treat a range of stakeholders including staff, customers, the unbanked, regulators, the environment – and not least shareholders.

The bank quality rating system on which the database is anchored uses a heuristic methodology to analyse the signals that banks are sending out in their annual reports – intentionally or otherwise – and combines them to score the overall bank. It uses the annual report because of its unique status as the primary vehicle for management of a bank to communicate and account to shareholders and other stakeholders.

Michael Lafferty, Chief Executive of Lafferty Group said:

“Banks from emerging markets are now setting the pace in world banking. They are more focused and unfettered by the mistakes that have done so much damage to Western banks. These mistakes include a misguided love affair with universal banking and the destructive ideology of shareholder value”.

Alexander Erickson, Lafferty 1000 Database & Research Manager added:

“Emerging market banks are becoming key and prominent players in banking, particularly in areas such as financial inclusion, diversity and climate risk policy. This has opened up new doors and altered the course of research and data analytics.”

For further information please contact:

Michael Lafferty FCA / Lafferty Group
Chief Executive and Chairman
E: [email protected]

Alexander Erickson / LAFFERTY 1000 Global Banking Database
Database & Research Manager
E: [email protected]

Dr Ronan Lynch / THE STATEMENT Magazine
Editorial & Research Director
E: [email protected]


ABOUT LAFFERTY GROUP

Lafferty Group provides advisory, research and education services to the banking industry worldwide. Our activities include:

· Councils – whose members meet regularly to share best practices and brainstorm the future of banking

· Research programmes – research services in SME banking and fintech, cards and digital finance and mobile wallets

· Benchmarking and global best practices – the LAFFERTY 1000 database rates 1000 quoted banks from over 100 countries across 21 metrics

· Banking education – Lafferty Banking Institute provides professional banking education to retail bankers worldwide.

· Advisory – projects typically range across the fields of consumer banking, payments. digital sovereignty, banking and postal banking partnerships, IPOs, and bank quality ratings.

Established in 1981 by Michael Lafferty FCA, a former banking and accounting correspondent of the Financial Times. Lafferty Group is a former winner of the Queens Award for Export Achievement. It has also been granted Institute status in recognition of its pioneering work in banking research and education.

For more information please visit www.lafferty.com

Visit us on social media:
Twitter
LinkedIn

Lafferty Group
+44 7850 407272

[email protected]

CitySpy Network
007 has nothing on us!

Here at CitySpy we make it our life’s work to discover the beautiful secrets and hidden gems of Prague. Every day we sift through the shit bits to bring YOU the shiny bits!

Our team is a vibrant group of content creators full of introverts, extroverts, and every shade in between. We live the day to day mining the scraps of gold that can be found throughout the City of a Hundred Spires, and present them to you through videos (lots of video), articles, events and much more. Our spies don’t cover everything...

We only cover the best.
CitySpy Network
[email protected]yspy.network
About CitySpy Network 124 Articles
007 has nothing on us!

Here at CitySpy we make it our life’s work to discover the beautiful secrets and hidden gems of Prague. Every day we sift through the shit bits to bring YOU the shiny bits!

Our team is a vibrant group of content creators full of introverts, extroverts, and every shade in between. We live the day to day mining the scraps of gold that can be found throughout the City of a Hundred Spires, and present them to you through videos (lots of video), articles, events and much more. Our spies don’t cover everything...

We only cover the best.