AFC (Africa Finance Corporation): Champion of Strategic Economic Growth Financing Africa 2026

AFC merits recognition for converting a complex mandate into disciplined, measurable delivery, pairing catalytic intent with bank-grade execution. The 2024 performance evidences strategic clarity: total revenue rose 22.8 percent to $1.1bn, profit increased 19.5 percent to $393.9m, and total assets expanded 16.7 percent to $14.41bn, while cost-to-income improved to 17.3 percent and liquidity coverage strengthened to 194 percent, signalling resilient funding and tight operational control. Equity growth to $3.9bn, alongside a 33.6 percent capital adequacy ratio, demonstrates prudent balance-sheet stewardship and capacity to underwrite larger, longer-dated development risk without compromising solvency. The judging panel also credits AFC's capital recycling and crowding-in capability, illustrated by its partial exit from ARISE IIP within a $700m transaction that brought in Vision Invest as a new institutional shareholder; this is a concrete proof-point of de-risking, governance credibility, and the ability to mobilise third-party capital at scale beyond traditional sources. Importantly, AFC reinforces market confidence through transparent thought leadership, including its State of Africa's Infrastructure Report 2025, which reframes the financing debate around over $1.1trn of domestic capital, strengthening policy dialogue and investability. Governance discipline is further reflected in consistent profitability, conservative liquidity buffers, and a clear appetite for partnerships that align incentives and improve project bankability. Taken together, AFC shows rare coherence across strategy, risk management, and outcomes, with repeatable mechanisms for accelerating continent-wide growth corridors. The Capital Finance International (CFI.co) Judging Panel congratulates AFC (Africa Finance Corporation) on winning the Champion of Strategic Economic Growth Financing 2026 Award (Africa).


La Trobe Financial: Best Investment Management Team Australia 2026

La Trobe Financial is recognised for the disciplined portfolio management and conservative investment philosophy that have continued to deliver strong and reliable outcomes for its growing investor base. In Financial Year 2025, the firm generated approximately $800m in returns for investors, a record result reflecting almost 24percent growth while maintaining complete preservation of investor capital and an uninterrupted liquidity record built over 36 years. Assets Under Management exceeded $21bn, with the Australian Credit Fund reaching nearly $14bn and the 12 Month Term Account approaching $11bn, underscoring sustained confidence in the firm’s risk-aware approach. Supported by almost 120,000 investors and more than 4,700 financial advisers, the company’s focus on quality assets, diversified portfolios, and embedded conservatism enabled it to deliver stable performance throughout heightened geopolitical and market volatility. The 12 Month Term Account, backed by 12,457 individual loan assets with an average loan-to-value ratio of 66percent, illustrates the strength of its margin-of-safety discipline. The firm also advanced its product suite by launching the La Trobe US Private Credit Fund retail class, offering access to low-volatility U.S. private credit income, and by listing the La Trobe Private Credit Fund (ASX: LF1) on the ASX after an oversubscribed $300m IPO. These achievements highlight a long-standing commitment to careful portfolio construction, rigorous monitoring of market conditions, and performance designed to endure across economic cycles. The Capital Finance International (CFI.co) Judging Panel congratulates La Trobe Financial on winning the 2026 Best Investment Management Team Award (Australia).


NLB Banka AD Podgorica: Visionary Leader in Strategic Banking Transformation Montenegro 2026

In a small, highly competitive market, NLB Banka AD Podgoricaearns recognition for disciplined, outcome-led transformation that balances ambition with governance and delivery certainty. The bank's strategic clarity is evidenced by prioritising initiatives with demonstrable national utility rather than superficial digitisation, and by aligning execution to Montenegro's EU convergence agenda. Its SEPA readiness provides a strong proof point: from 7 October 2025 the bank enabled SEPA euro payments with materially improved customer economics, including free transactions up to euros 200 and up to 6 times lower electronic fees, reinforcing a transformation thesis grounded in measurable value. Sector data further indicates the bank's operational strength within the system: by end-Q3 2025 it delivered euros 20.12m profit, placing it among the top performers in Montenegro, signalling resilience and sound risk stewardship amid intensifying investment demands. Importantly, the bank's leadership approach treats transformation as an operating-model shift, not a technology shopping list, with emphasis on cross-functional collaboration, capability building and controlled experimentation appropriate to a regulated environment. The bank also demonstrates responsible modernisation through attention to cyber risk and financial literacy, recognising that trust is a strategic asset, particularly for first-time digital adopters. Finally, its ability to earn visible institutional confidence during nationally significant payment milestones underscores credibility with regulators and stakeholders, differentiating it in an overbanked landscape where execution quality, not scale, determines advantage. The Capital Finance International (CFI.co) Judging Panel congratulates NLB Banka AD Podgorica on winning the Visionary Leader in Strategic Banking Transformation 2026 Award (Montenegro).


Bedrock Group: Best Investment Portfolio Manager United Kingdom 2026

Bedrock Group earns this distinction for the disciplined way it converts a multi-family office model into repeatable portfolio outcomes, without diluting fiduciary clarity. The firm's investment practice is anchored in a defined governance cadence: strategic and tactical asset-allocation decisions are taken through an Investment Committee that meets at least quarterly, with clear accountability for final selection decisions, supporting timely action in volatile markets while avoiding committee drift. Its proposition is notably differentiated by breadth of implementation tools-third-party funds, ETFs, structured products and, where appropriate, derivatives and currency overlays-used to express conviction, manage downside and control unintended exposures rather than to chase complexity. Evidence of execution quality is reinforced by its ability to originate and complete real-asset transactions in demanding markets including acquisitions across prime locations such as London, New York and Paris, demonstrating operational reach beyond liquid markets and a pragmatic eye for pricing dislocations. The firm's scale-reported externally within a £1bn-£5bn assets-under-management band-supports institutional-grade manager research, monitoring and product review processes, while remaining sufficiently focused to deliver genuinely bespoke mandates across core, focused and client-specific portfolios. Risk management is treated as an investment input, with scenario analysis and liquidity planning informing position sizing and rebalancing discipline. Leadership depth is visible in the investment office's blend of macro, quantitative and risk expertise, strengthening resilience and decision hygiene. The Capital Finance International (CFI.co) Judging Panel congratulates Bedrock Group on winning the Best Investment Portfolio Manager 2026 Award (United Kingdom).


XM.com: Best Customer Service Global 2026

XM.com’s designation as Best Customer Service Global 2026 recognises a culture built around accountability, responsiveness and consistent client advocacy across its worldwide operations. The company has invested heavily in multilingual support teams, advanced service platforms and continuous training, ensuring clients receive timely, accurate and empathetic assistance throughout their trading journey. Rather than treating service as a cost centre, XM.com positions it as a strategic differentiator, embedding quality metrics and feedback loops into daily decision-making. This disciplined approach delivers measurable outcomes, including faster resolution times, consistently high satisfaction scores and strong client retention across diverse markets. XM.com’s service model benefits from clear escalation frameworks and empowered frontline teams, enabling swift problem ownership and effective resolution without unnecessary friction. Leadership oversight ensures standards remain uniform globally, while local expertise allows service delivery to reflect cultural and regulatory nuances. By aligning technology, people and process around client outcomes, XM.com consistently converts service excellence into trust, loyalty and long-term value. Continuous investment in service analytics and proactive outreach allows the company to anticipate client needs, reduce repeat enquiries and strengthen confidence, particularly during volatile market conditions when reassurance and clarity are most valued. This commitment reinforces the firm’s reputation for reliability and integrity, supporting sustainable growth and ensuring service excellence remains a defining pillar of its global brand promise across cycles, channels and client segments worldwide with consistency and discipline. The Capital Finance International (CFI.co) Judging Panel congratulates XM.com on winning the 2026 Best Customer Service Award (Global).


XM.com: Best Gold Broker 2026

XM.com’s recognition as Best Gold Broker 2026 reflects the firm’s sustained leadership in delivering transparent, resilient and client-centric access to the global gold markets. XM.com has consistently demonstrated an ability to combine advanced trading infrastructure with disciplined risk management, ensuring competitive pricing, deep liquidity and reliable execution across market cycles. Its approach to gold trading is underpinned by robust liquidity partnerships and sophisticated pricing models that protect clients from undue volatility while preserving opportunity during periods of heightened uncertainty. The company has further differentiated itself through clear, consistent communication and high-quality education, empowering clients to understand gold’s role as both a tactical trading instrument and a strategic store of value. Operational excellence remains central, with strong system resilience, disciplined execution controls and rigorous compliance standards supporting trust at scale. XM.com’s broad international footprint, combined with a deep understanding of evolving investor behaviour, enables it to deliver a consistently high-quality gold trading experience regardless of market conditions. By balancing innovation with prudence, and performance with protection, XM.com continues to set benchmarks in gold brokerage, reinforcing its position as a dependable partner for traders seeking stability, efficiency and long-term confidence. This disciplined proposition ensures gold trading outcomes remain aligned with client objectives, regulatory expectations and shifting macroeconomic realities, even as demand for safe-haven assets intensifies during periods of geopolitical or monetary uncertainty across global financial markets worldwide today consistently universally. The Capital Finance International (CFI.co) Judging Panel congratulates XM.com on winning the 2026 Best Gold Broker Award.


NSE (National Stock Exchange): Excellence in Multi-Asset Market Infrastructure & Execution Asia 2025

India’s economic transformation has been underpinned by market infrastructure capable of operating at unprecedented scale, and National Stock Exchange (NSE) exemplifies this capability through sustained innovation, executional excellence, and systemic impact. Incorporated in 1992 and commenced operations in 1994, it pioneered fully screen-based trading in India and has since evolved into the world’s largest multi-asset exchange (based on number of trades), supporting equities, derivatives, bonds, mutual funds, commodities, REITs, InvITs and electricity futures within a single, resilient architecture. Its platform has processed up to 20 billion orders and around 300 million trades at its peak while maintaining response times of about 100 microseconds; with the planned upgrade to nanosecond-level latency shortly, enabling capacity of nearly 100 million transactions per second, NSE will further enhance speed, efficiency, and resilience in trading, reinforcing trust, liquidity, and price discovery. By operating a market with over 250m investor accounts linked to 128m unique individuals and spanning 99.85% of India’s pincodes, NSE enhances transparency, financialisation and inclusion at national scale. Its disciplined deployment of in-house AI and big data strengthens regulatory oversight, market integrity and operational efficiency without compromising determinism. Through cross-border linkages, international partnerships and continuous product expansion, NSE demonstrates how technology-led market infrastructure can drive market access, financial deepening, and global relevance. Its governance, resilience and scalability set enduring benchmarks for emerging and developed markets alike worldwide today and tomorrow. The Capital Finance International (CFI.co) Judging Panel congratulates NSE (National Stock Exchange) on winning the 2025 Excellence in Multi-Asset Market Infrastructure & Execution Award (Asia).


Suade Labs: Excellence in Regulatory-Reporting Automation UK 2025

Suade Labs merits recognition for translating a post-crisis mission into disciplined execution that measurably reduces regulatory-reporting risk, cost and fragility for banks. The Panel notes over a decade-long track record, founded in 2014, of tackling the hardest constraint in prudential reporting: data quality and lineage at scale, rather than superficial workflow automation. The Suade platform provides clients with transparency, traceability, and auditability for their regulatory reports. Suade offers a modern user interface that brings all of this functionality into a single platform for firms to use, as well as an open API framework that enables firms to fully automate their regulatory reporting processes. Its development of FIRE as an open-source data standard demonstrates governance-minded leadership, prioritising interoperability, and auditability over vendor lock-in, and aligning with supervisory expectations for transparent, traceable submissions. In 2024, Suade strengthened its proposition through targeted enhancements in data interoperability and preparation for Basel III endgame modules, evidencing strategic clarity in anticipating the January 2027 Basel III implementation horizon while delivering near-term value. Operational credibility is reinforced by sustained global adoption and regulator engagement, including relationships with the Bank of England and the European Central Bank, signalling maturity in stakeholder management and an ability to operate within stringent assurance requirements. Suade's British Embassy Award for Driving UK Innovation in Spain in 2024 indicates exportable capability and resilience in scaling beyond its home market, even amid shifting supervisory priorities. Client outcomes with multiple jurisdictional implementations, highlighting repeatable delivery across entities and regimes. Collectively, these factors show differentiated architecture, prudent product stewardship, and consistent delivery under regulatory change. The Capital Finance International (CFl.co) Judging Panel congratulates Suade Labs on winning the Excellence in Regulatory-Reporting Automation UK 2025 Award (United Kingdom).


Corporación Zona Franca Santiago Wins Triple Honour at the 2026 CFI.co Awards

Corporación Zona Franca Santiago (CZFS) has been recognised with three prestigious honours at the 2026 Capital Finance International (CFI.co) Awards, underscoring its leadership in economic development, ESG performance, and investment competitiveness in the Dominican Republic and across the Latin America & Caribbean region.

The organisation has received the following awards:

Outstanding Contribution to the Economy Dominican Republic 2026

Best ESG Industrial Free Zone LatAm & Caribbean 2026

Foreign Investment & Business Competitiveness Champion Dominican Republic 2026

A Catalyst for Economic Growth

The CFI.co Judging Panel recognises CZFS for translating long-term institutional stewardship into measurable national economic value. Since assuming management of the Víctor Espaillat Mera Industrial Park (PIVEM) in 1974, the Corporation has consistently prioritised productivity, resilience, and strategic infrastructure development.

Recent expansions—including 450,000 square feet of industrial space in 2020 and a further 230,000 square feet in 2022—demonstrate a disciplined, demand-aligned growth model. The commissioning of a 44MW electrical substation in 2023 further reinforces operational resilience for tenants.

The Corporation’s leadership was particularly evident during the pandemic, when it implemented comprehensive health, safety, and financial support programmes for more than 80 companies, safeguarding employment and business continuity. At a national level, the Dominican Republic’s free zone sector surpassed 200,134 direct jobs and generated approximately $7.9bn in exports by late 2025, reflecting the catalytic role played by CZFS.

ESG as an Operating Discipline

CZFS’s recognition as Best ESG Industrial Free Zone reflects its embedded approach to sustainability. Rather than treating ESG as a communications exercise, the Corporation integrates it into operational decision-making across its industrial ecosystem.

Today, PIVEM spans more than 2,500,000 square metres, hosting over 80 companies and employing more than 20,000 people—clear evidence of sustained tenant confidence and social impact. Infrastructure innovations, including integrated monorail stations and dedicated logistics facilities, demonstrate a commitment to efficiency, mobility, and reduced environmental friction.

The Corporation’s longstanding support for healthcare infrastructure in Santiago, alongside its repeated recognition as a top employer in the Northern Region, highlights a consistent focus on human capital development. Transparency is reinforced through the publication of corporate management summaries, ensuring continuity of oversight and accountability.

A Platform for Investment and Competitiveness

CZFS has also been honoured for its role in strengthening the Dominican Republic’s position as a competitive destination for foreign direct investment. With an industrial footprint exceeding 2,500,000 square metres and supporting more than 20,500 jobs, the Corporation demonstrates sustained demand and effective land-use strategy.

Its integrated approach—combining infrastructure readiness, streamlined installation processes, and connectivity through Santiago’s mobility network—reduces investor friction and enhances operational reliability. This positioning aligns with broader nearshoring trends, as the Dominican free zone regime reported approximately $8.6bn in exports in 2024 and accumulated capital exceeding $7.7bn.

Crucially, CZFS maintains a balanced model of competitiveness, combining investor support with community engagement through education, healthcare, and cultural initiatives. Its ability to coordinate public and private stakeholders, manage compliance, and sustain investor confidence has enabled it to remain relevant and resilient after five decades of operation.

A Model for Sustainable Industrial Development

Across all three awards, the Judging Panel highlights CZFS’s consistent delivery, governance maturity, and long-term strategic clarity. The Corporation exemplifies how industrial free zones can serve as engines of inclusive growth—supporting employment, attracting investment, and strengthening national competitiveness while maintaining strong ESG principles.

The Capital Finance International (CFI.co) Judging Panel congratulates Corporación Zona Franca Santiago on its outstanding achievements and its continued contribution to economic convergence and sustainable development.


MONETA Money Bank: Champion in Digital Banking Experience CEE 2026

MONETA Money Bank earns recognition for converting a clearly articulated digital "North Star" into disciplined execution that strengthens customer outcomes while protecting profitability and trust. The judging panel notes a coherent strategy to modernise Smart Banka into an intuitive, consistent platform designed to simplify journeys, raise engagement and scale self-service and digital sales, rather than pursuing feature volume for its own sake. Evidence of delivery is reinforced by the bank's FY 2025 performance: total operating income of CZK 13.9bn, up 7.8 percent year on year, demonstrating that experience-led digital investment is translating into measurable commercial momentum. Importantly, MONETA frames growth as a structural response to rising regulatory, ESG and reporting fixed costs, and aligns digitalisation with capital efficiency and resilience, signalling mature strategic governance. The approach to acquisition is explicit and quantifiable, targeting 75,000-90,000 new clients annually through digital-led onboarding and transparent pricing, while also addressing SMEs that larger banks often serve inefficiently; this focus differentiates the proposition in a crowded market. The panel also values the bank's risk-aware design choices: Smart Banka is positioned as a secure channel for authentication and transaction confirmation, and the operating model emphasises close cooperation between business, IT, risk and compliance to ensure innovation supports operational stability. Omnichannel integration further strengthens outcomes by combining digital convenience with expert support for complex decisions, reducing abandonment and reinforcing confidence. The Capital Finance International (CFI.co) Judging Panel congratulates MONETA Money Bank on winning the Champion in Digital Banking Experience 2026 Award (CEE).


TGE Polish Power Exchange: Energy Market Exchange Excellence Champion Europe 2026

TGE Polish Power Exchange merits recognition for converting a nationally critical marketplace into a demonstrably European-grade venue, balancing liquidity, transparency and operational resilience while navigating fast-moving regulation and energy-transition volatility. The Panel notes measurable scale: in 2024 electricity trading on TGE totalled 131,691,879 MWh, with natural gas transactions of 136,695,747 MWh, evidencing durable participation even as power turnover fell 10.7 percent year on year. Governance and strategic clarity are reflected in disciplined product stewardship: guarantees of origin turnover reached 55,484,934 MWh in 2024, up 31 percent, showing credible support for decarbonisation instruments rather than rhetorical ESG positioning. Execution quality is reinforced by technology choices and market design, including a modern trading platform and the operational maturity expected of a Nominated Electricity Market Operator, enabling cross-border coupling and access beyond domestic constraints. TGE's differentiation lies in breadth under one roof-power, gas, spot, forwards and environmental registries-reducing fragmentation for participants managing increasingly correlated fuel and power risks. The Panel also values customer-centric market development, evidenced by shorter-duration products aligned to renewable intermittency and a clear roadmap towards financial energy products, which should deepen hedging efficiency without diluting physical-market integrity. Importantly, TGE demonstrates constructive leadership in the European debate on market structure, advocating competition and service quality over centralised monoculture, while maintaining credible engagement with stakeholders through formal councils and continuous education. The Capital Finance International (CFI.co) Judging Panel congratulates TGE Polish Power Exchange on winning the Energy Market Exchange Excellence Champion 2026 Award (Europe).


Citadele Banka: Baltic Leader in Digital Banking Evolution Latvia 2026

Citadele Banka earns recognition for treating digital evolution as a governance and customer-outcome discipline, not a feature race, and for executing that philosophy with measurable rigour. The bank's 2025 performance evidences strategic clarity: operating income of €221.5m supported net profit from continuing operations of €84.7m and a 14.6 percent return on equity, while operating expenses fell 4 percent, demonstrating that investment in digital capability has been matched by cost control and prioritisation. Balance-sheet momentum reinforces credibility: the loan portfolio grew 15 percent to €3.8bn and new financing reached €1.6bn, up 18 percent year on year, indicating that digital simplification has translated into scalable origination rather than superficial engagement. Importantly, Citadele's approach aligns innovation with trust outcomes. Verification of Payee is embedded within payments to reduce misdirected transfers and strengthen fraud resilience at the point of action, reflecting sound risk thinking in customer journeys. Adoption metrics show disciplined execution in a mature market: 86.9 percent of customers actively use digital channels and active mobile users reached 286,000, up 6 percent year on year, signalling sustained relevance without over-engineering. Service quality is treated as an operational KPI, with the bank receiving the highest rating in Latvia in the DIVE customer service study for the 11th consecutive year. The panel also values the bank's insistence on accountable human decision-making alongside automation, strengthening conduct, transparency, and customer confidence at scale. The Capital Finance International (CFI.co) Judging Panel congratulates Citadele Banka on winning the Baltic Leader in Digital Banking Evolution 2026 Award (Latvia).


National Investment Trust: Visionary in Adaptive Fund Structuring and Growth Mauritius 2026

National Investment Trust merits recognition for disciplined, adaptive fund structuring aligned to a clear shareholder mandate and executed with measurable outcomes. Operating since 1993, it demonstrates institutional memory across cycles while avoiding complacency, evidenced by a deliberate broadening of earnings drivers beyond a historically concentrated investment base. The judging panel notes the quality of governance implied by tighter investment guidelines, strengthened compliance architecture, and a pragmatic approach to operational risk, including digitised records, controlled access and improved continuity tooling. Strategic execution is validated by financial delivery: for the year ended 30 June 2024, profit after tax rose to MUR 51.7m from MUR 9.3m, alongside an improved cost-to-income ratio of 65.4 percent, signalling sharper control rather than mere market tailwinds. In FY2025, profit after tax of MUR 45.4m and NAV per share of Rs 40.73 reflect resilience amid volatility, while positive net cash flow of Rs 53.6m indicates stronger cash discipline and distribution management. Differentiation is reinforced by an integrated operating model that internalises registry, accounting and administration, enabling competitive fee positioning without diluting oversight. Product breadth across local and global strategies, with published dealing prices, supports transparency and scalable growth ambitions. Importantly, the organisation’s ongoing rebranding initiative and the development of a client portal — as part of its broader digital transformation and website redesign — are viewed as purposeful enablers of future AUM growth, aimed at enhancing onboarding, reporting timeliness and service consistency for retail and institutional holders. The Capital Finance International (CFI.co) Judging Panel congratulates National Investment Trust on winning the Visionary in Adaptive Fund Structuring and Growth 2026 Award (Mauritius).


Afiancol: Excellence in Reinsurance-Backed Bond Security Colombia 2026

Afiancol merits recognition for its disciplined, reinsurance-backed risk transfer framework, designed to enhance the certainty and enforceability of bond obligations while maintaining capital efficiency, underwriting discipline, and prudent exposure management. The Judging Panel acknowledges the firm’s structured approach to risk allocation, where reinsurance is embedded as a core component of its architecture, ensuring resilience under normal and stressed conditions. Strategic specialisation across contractual guarantees, credit protection, lease-payment security, and customs bonds reflects a deliberate focus on segments where default risk is operationally complex, aligning underwriting with cash-flow dynamics across construction, engineering, cooperative finance, real estate, and trade. Execution is defined by an integrated, end-to-end framework spanning assessment, issuance, and continuous monitoring, anchored in a legal-led model that strengthens enforceability, reduces disputes, and accelerates claims resolution. A fully digital platform enables 100 percent origination, processing, and management, enhancing transparency, auditability, and scalable decisioning without weakening controls. Governance is reinforced through clear accountability across leadership, finance, legal, and risk, supported by documented policies, controls, and escalation pathways, while sustainability and responsible risk management are embedded as underwriting inputs. In Colombia’s market, Afiancol’s emphasis on reinsurance capacity, legal robustness, and continuous monitoring enhances counterparty security and project continuity, while preserving resilience and adaptability to cross-border regulatory environments. This positioning demonstrates disciplined scalability, consistent risk pricing, and alignment with international best practice in structured surety markets. The Capital Finance International (CFI.co) Judging Panel congratulates Afiancol on winning the 2026 Excellence in Reinsurance-Backed Bond Security Award (Colombia).


Trading.com: Highly Transparent Broker EU/UK/AU 2026

Trading.com has earned distinction for its unwavering dedication to transparency, integrity, and client empowerment across the EU, UK, and Australia. The company has built its operations around a philosophy of openness, ensuring traders have full visibility into pricing, execution quality, and operational procedures. Trading.com’s straightforward fee structure, with no hidden charges and clearly defined spreads, exemplifies its commitment to fairness and accountability. The broker provides clients with real-time reporting, detailed order execution data, and transparent margin requirements, fostering trust and enabling informed decision-making. Its proprietary technology supports direct market access and robust order routing, eliminating conflicts of interest and ensuring that client outcomes always take precedence. Beyond operational transparency, Trading.com actively promotes financial literacy, offering educational content, webinars, and performance insights that demystify trading processes and strengthen investor confidence. Regulatory compliance remains a cornerstone of its approach, with strict adherence to FCA, CySEC, and ASIC standards underscoring its credibility and governance excellence. The company’s user-centric communication style—clear, prompt, and jargon-free—reflects its respect for clients and its belief that transparency is fundamental to sustainable success and industry advancement. By combining cutting-edge technology with an ethical framework grounded in openness, Trading.com has redefined what traders can expect from a modern brokerage model today. Its transparent culture not only differentiates it within a competitive global industry but also builds enduring relationships based on trust, clarity, and accountability. The Capital Finance International (CFI.co) Judging Panel congratulates Trading.com on winning the 2026 Highly Transparent Broker Award (EU/UK/AU).


Trading.com: Seamless User-Friendly Mobile App EU/UK/AU 2026

Trading.com has been recognised for its outstanding commitment to creating a mobile trading experience that is intuitive, secure, and genuinely empowering for users across the EU, UK, and Australia. The company’s mobile app exemplifies a deep understanding of modern traders’ needs, combining robust functionality with exceptional ease of use. Through a design philosophy centred on accessibility and performance, Trading.com delivers rapid trade execution, advanced charting tools, and real-time market analytics without compromising simplicity or accuracy. Its emphasis on transparency and user education, including in-app tutorials, multilingual support, and customisable dashboards, enhances investor confidence and supports informed decision-making at every stage. The app’s seamless integration with multi-asset platforms—covering forex, commodities, indices, cryptocurrencies, and equities—demonstrates Trading.com’s technological maturity and customer-focused innovation. Continuous user feedback loops, rigorous testing, and a proactive approach to feature development ensure a stable, responsive, and consistently evolving experience across all major operating systems, reinforcing its reputation for reliability and technical excellence worldwide. Furthermore, the company’s unwavering commitment to regulatory compliance, cybersecurity, and data protection, coupled with competitive pricing, responsive client service, and responsible trading initiatives, strengthens its standing as a trusted digital broker in global financial markets today. Trading.com’s mobile platform sets a new benchmark for accessibility, engagement, and financial inclusion in modern online trading, empowering both novice and experienced traders to manage portfolios effortlessly and confidently on the go. The Capital Finance International (CFI.co) Judging Panel congratulates Trading.com on winning the 2026 Seamless User-Friendly Mobile App Award (EU/UK/AU).


Trading.com: Top Broker for Commission-Free Share Investing Europe 2026

Trading.com is recognised for redefining accessible equity investing through its Investment Account, launched in December 2025, which removes traditional barriers by offering commission-free access to global shares for EEA clients with no upfront deposit and full investor autonomy. The judging panel notes that the proposition succeeds not through marketing claims but through structural transparency, enabling clients to retain 100 percent of profits while avoiding hidden charges that typically erode long-term returns. Trading.com’s platform combines fast execution with an intuitive interface and robust analytical tools, ensuring that simplicity does not come at the expense of sophistication. Innovation is evident in client-centric incentives, including a €50 welcome bonus that encourages disciplined experimentation, daily interest on uninvested balances, deposit rewards that enhance initial capital efficiency, and a referral programme that aligns growth with advocacy. Crucially, these features support sustainable participation rather than speculative behaviour, reinforcing the company’s commitment to long-term portfolio building, dividend accumulation, and informed decision-making across market cycles. Regulatory breadth further strengthens confidence, with oversight spanning CySEC, the FCA, NFA, CFTC, and ASIC, demonstrating operational maturity and a consistent compliance culture across major jurisdictions. Trading.com distinguishes itself by aligning zero-commission pricing with education, control, and trust, delivering measurable value to both first-time and experienced investors seeking clarity, fairness, and scale in modern share investing. It prioritises execution quality, resilience, and confidence. The Capital Finance International (CFI.co) Judging Panel congratulates Trading.com on winning the 2026 Top Broker for Commission-Free Share Investing Award (Europe).


MeDirect: Digital Savings and Investing Platform Excellence Europe 2026

MeDirect merits recognition for disciplined strategic focus and execution that converts challenger intent into measurable customer outcomes, while operating under the heightened expectations that accompany ECB-level supervision. In 2025 it navigated a material ownership transition, completing the acquisition of MDB Group Limited by Banka CREDITAS in September 2025 following ECB approval in August 2025, and secured €40m of new capital invested to date, strengthening capacity to invest without diluting control of the operating model. Governance and resilience were treated as value drivers rather than compliance overheads, with explicit reinforcement of risk, compliance and data governance, alongside continued investment in platform security and fraud prevention. Performance in 2025 demonstrates resilience and managerial candour: a reported loss before tax of €6.3m was transparently linked to deliberate, non-recurring actions, while underlying net operating profit was €0.8m, evidencing a business capable of self-funding once restructuring effects unwind. Balance-sheet quality improved, with NPL ratio reduced to 0.9 percent and Tier 1 capital ratio lifted to 20.8 percent at 31 December 2025, supporting sustainable growth. Crucially for platform excellence, MeDirect paired product economics with scale-building traction, growing its Belgium investing client base 34 percent to 50,000 in 2025, and differentiating through the permanent elimination of brokerage fees on ETF transactions in Belgium from 26 August 2025, a decisive move that sharpened value-for-money and reinforced trust. ESG discipline is evidenced by an EcoVadis Gold Medal in 2025, placing the group in the top 5 percent globally. The Capital Finance International (CFI.co) Judging Panel congratulates MeDirect on winning the Digital Savings and Investing Platform Excellence 2026 Award (Europe).


lomarlabs: Maritime Innovation Pioneer Europe 2026

lomarlabs merits recognition for disciplined, problem-led innovation that converts maritime uncertainty into a managed portfolio of executable options, rather than a single technology bet. Its leadership articulates a clear strategic logic-future of work at sea and climate action for the maritime environment-and then governs delivery through structured collaborations that move beyond concept advocacy into operational proof. The judging panel notes particular strength in how lomarlabs uses Lomar Shipping's operational platform to de-risk deployment: Seabound's onboard carbon-capture trials on a Lomar container vessel reported around 80 percent CO₂ capture efficiency, demonstrating credible engineering progress under real constraints, while subsequent consortium work secured £1.1m under the UK Clean Maritime Demonstration Competition to advance integrated capture of CO₂ alongside SO₂ and NOx at berth. In parallel, the Calcarea development agreement targets a practical bottleneck-handling captured carbon - by converting it into durable ocean salts, aligning abatement with shipboard realities and lifecycle integrity. Innovation is not confined to emissions: the January 2026 collaboration with Signal Fusion applies Operational Behavioral Intelligence to turn human signals into explainable readiness and compliance forecasts and early-warning actions, embedding this intelligence into daily operations, evidencing a balanced view of safety, performance, and technology adoption. Most recently, the April 2026 extended at-sea methane-removal trial with Bennu Climate signals resilience and ambition in tackling hard-to-abate climate externalities. Across these initiatives, lomarlabs shows governance maturity, collaborator selectivity, and a measurable bias to trials, standards, and commercialisation pathways. The Capital Finance International (CFI.co) Judging Panel congratulates lomarlabs on winning the Maritime Innovation Pioneer 2026 Award (Europe).


Tunis International Bank (TIB): Best International Banking Partner Tunisia 2025

Tunis International Bank (TIB) has been awarded the "Best International Banking Partner Tunisia 2025" title in recognition of its sustained commitment to facilitating cross-border financial activity with rigor, reliability, and a client-centered ethos that has positioned it as a trusted partner across Tunisia, the wider MENAT region and global markets. The bank demonstrates a disciplined approach to international banking, prioritizing strong performance, prudent risk management, and transparent operating standards.

TIB has firmly established its reputation as a premier local provider of top-tier financial products and services to non-resident customers. Offering a comprehensive suite of international financial solutions, TIB caters to the needs of corporates, financial institutions and individuals both in Tunisia and abroad. Its offerings include foreign exchange, money market operations, international trade financing, private banking services, and loan syndications.

Dedicated to supporting international clients, TIB delivers tailored solutions that adapt to their evolving needs, underpinned by a relationship-driven approach and a strategic emphasis on consistency and reliability. Recognized by industry standards for its unwavering commitment to disciplined stewardship, sustainable growth, and forward-looking digital agility, TIB stands out as a resilient and strategic partner for businesses and investors engaged in international activities involving Tunisia and the wider MENAT region.

Over the years, TIB has continuously strengthened its dedication to service excellence and close client collaboration. The Capital Finance International (CFI.co) Judging Panel congratulates Tunis International Bank (TIB) on receiving the 2025 Best International Banking Partner Award for Tunisia.


Moody's Ratings: Best Credit Rating Agency LATAM 2026

Moody's Ratings is recognized for its disciplined analytical approach and strong regional expertise at a time when Latin American issuers are navigating tighter liquidity conditions, higher refinancing risk and greater scrutiny of governance and climate exposure. The judging panel highlighted the firm’s consistent analytical framework across sovereign, sub sovereign, and financial institution ratings, combined with ongoing market engagement designed to support transparency and informed credit assessment for issuers and investors.

This recognition also reflects Moody’s Corporation’s publicly reported financial performance, with full year 2025 revenue of $7.7 billion, representing 9 percent year on year growth. Moody’s Investors Service (the legal entity operating under the Moody’s Ratings brand) reported revenue of $4.1 billion for the same period, also up 9 percent year on year, reflecting continued demand for independent, high quality credit analysis. In the fourth quarter of 2025, Moody’s Investors Service revenue increased by 17 percent to $946 million, supporting continued investment in analytical resources.

In Latin America, Moody’s Ratings’ analytical work includes public sovereign rating actions, such as the affirmation of Chile’s A2 rating with a stable outlook in 2025, supported by transparent analysis of institutional and fiscal factors.The panel also values the breadth of sustainable finance assurance delivered in the region, including Second Party Opinions cited for the Government of Costa Rica, the Province of Córdoba and BancoEstado, alongside supplementary opinions supporting regional frameworks, strengthening credibility for labelled instruments. Governance discipline, methodological consistency and measured communication were cited as distinguishing features of Moody's Ratings in a competitive market. The Capital Finance International (CFI.co) Judging Panel congratulates Moody's Ratings on winning the Best Credit Rating Agency 2026 Award (LATAM).


Pillarstone: Excellence in Transformative Impact Investments Europe 2026

Pillarstone merits recognition for a disciplined, stakeholder-led turnaround model that converts distressed situations into investable, measurable value without diluting accountability. The Panel notes a consistent emphasis on capital structure realism from day one: debt sustainability is treated as a gating metric, not an afterthought, enabling swift decisions on recapitalisation, creditor alignment and, where necessary, the hard reset of legacy equity to protect enterprise viability. This clarity underpins execution quality: Pillarstone embeds itself alongside management through frequent operating cadence and committee governance, translating plans into tracked actions and escalating course-corrections when progress stalls. Impact is treated as an investment discipline rather than a communications layer; ESG factors are integrated across the investment cycle, with monitoring designed to evidence delivery against defined topics and targets, reinforcing credibility through "do what we say" behaviour. Strategic differentiation also lies in its ability to mobilise new capital to fund operational change, rather than relying solely on financial engineering, thereby improving the probability of durable profitability and higher equity value for aligned stakeholders. The platform's European footprint and complexity-handling are evidenced by its multi-asset portfolio and fund structures, including the Responsible & Sustainable Corporate Turnaround Fund, which aggregates equity and unlikely-to-pay exposures across 18 companies, and its positioning as a PRI signatory, signalling governance maturity and external accountability. Importantly, its approach balances urgency with long-term stewardship, preserving control while rebuilding trust. The Capital Finance International (CFI.co) Judging Panel congratulates Pillarstone on winning the Excellence in Transformative Impact Investments 2026 Award (Europe).


Lattanzio Group: Excellence in Consultancy-Led Transformation Europe 2025

Lattanzio Group is recognised for translating consultancy insight into transformation, combining strategic rigour with an uncommon capacity to execute at scale across complex public sector environments. Founded with Italian roots yet operating as a global-local organisation, the company has demonstrated disciplined leadership through a multi-year consolidation strategy following several targeted acquisitions, leveraging a KIBS-integrated and distinctive consulting model while preserving cultural coherence and service quality. The company’s strategic approach in acquisitions, coupled with a clear roadmap to resume selective expansion from 2026, evidences maturity and long-term thinking, ensuring geographic growth enhances capability depth rather than diluting expertise. International ambitions across Central Asia, the Arab League countries, North Africa, and the United States are underpinned by established partnerships and a proven ability to adapt solutions to local contexts, reinforcing credibility in global competition. Importantly, Lattanzio Group balances independence with openness to corporate transactions and potential listing, securing capital for growth while safeguarding strategic autonomy. This delivers sustained transformation by fueling long‑term investment, organisational resilience, and trusted advisory leadership across Europe and beyond. The Capital Finance International (CFI.co) Judging Panel congratulates Lattanzio KIBS on winning the 2025 Excellence in Consultancy-Led Transformation Award (Europe).


Hero Future Energies: Champion of Growth-Driven Clean-Energy Infrastructure India 2025

Hero Future Energies earns this distinction for converting clean-energy growth into dependable, economy-shaping infrastructure. In 2025 it commissioned its first green hydrogen project, blending green hydrogen with LPG or natural gas directly at an industrial customer site, demonstrating a practical pathway to decarbonise existing fuel systems rather than waiting for wholesale replacement. It also proved that renewables can be dispatchable by winning an Indian tender for Around-the-Clock renewable power: delivery 24 hours a day, 365 days a year, with minimum 80 percent renewable compliance in every hourly slot, enabled through an optimised mix of solar, wind and battery storage. This capability elevates renewable power from intermittent supply to firm capacity, accelerating investor and offtaker confidence. The company’s international footprint strengthens the same agenda: projects in fast-growing markets such as Vietnam extend decarbonisation impact, while a UK battery storage scheme under construction embeds it in a mature system where ancillary services—voltage and frequency regulation, peak shifting and capacity support—are valued, sharpening expertise that can be replicated elsewhere. Crucially, growth is matched with local value creation; its planned investment of more than $2bn in Andhra Pradesh supports jobs through construction and long-term operations, complemented by water-positive initiatives, education and skilling centres that build community resilience and economic independence. It is advancing green molecules, targeting methanol and ammonia derivatives. The Capital Finance International (CFI.co) Judging Panel congratulates Hero Future Energies on winning the 2025 Champion of Growth-Driven Clean-Energy Infrastructure Award (India).


Ariya Capital: Best ESG Clean Energy Investment Partner Sub-Saharan Africa 2026

The panel values investment partners that combine strategy, control, inclusion and measurable outcomes. Ariya Capital was assessed against that standard for its work in clean-energy investment across Sub-Saharan Africa, where capital mobilisation must address infrastructure gaps and institutional-investor risk constraints. The firm reported investments in projects valued at more than $900 million while Ariya Finergy manages more than 20 MW of energy assets and can reduce client energy bills by up to 50 percent. These figures show execution beyond advisory positioning, linking development, financing and asset management. As described to the panel, Ariya ReEnergy is being structured as a renewable-energy platform for pension funds and insurers with long-dated liabilities. The strategic insight is clear: domestic African capital can be matched with long-term productive assets, reducing reliance on foreign or concessional finance. Leadership has driven this agenda through regulatory engagement as well as investment activity. Ariya works with regulators in Mauritius, Kenya, Namibia, South Africa and Zambia, and has argued for rules that allow pension capital to invest more effectively across borders. The panel noted its selective approach to country entry, based on governance, rule of law and exit risk. Execution examples include Ariya's co-development of the 586 MW Project Spark in Namibia, a gas-to-power project designed with green-hydrogen compatibility. The project is expected to create about 1,000 construction jobs and about 200 permanent roles. Ariya is also pursuing waste-to-energy investment, including a first project in Djibouti where debt has been secured. The panel also noted political-risk mitigation, including an intended MIGA umbrella cover for risks such as expropriation and exchange controls. The award reflects Ariya Capital's disciplined capital architecture, ESG intent and ability to turn transition objectives into investable projects.


EastWest Bank: Leaders in Consumer Finance Excellence Philippines 2026

EastWest Bank merits recognition for translating a deliberately consumer-weighted strategy into resilient, well-governed growth while upgrading delivery channels without diluting risk discipline. The Bank closed 2025 with ₱9.2bn net income, up 21 percent year on year, evidencing execution quality in a competitive cycle where larger peers have intensified their push into higher-margin retail lending. Rather than relying on scale, the Bank demonstrates strategic clarity: it concentrates resources on consumer propositions and underwriting capabilities, then measures success through profitability and efficiency, including a cost-to-income ratio that improved to 49.7 percent in 2025 from 55.2 percent in 2024. Digital investment is judged purposeful, not cosmetic: EasyWay consolidates servicing and origination journeys, while ESTA expands self-service controls such as card lock and unlock, strengthening customer protection and operational resilience. The June 2023 launch of EastWest Pay for Visa contactless payments shows credible innovation and partner confidence, and the Komo proposition extends low-friction payments and wallet-like use cases that support inclusion objectives, particularly for smaller-ticket everyday spending. This has resulted in digital penetration passing 51% as customers shifted online.  Importantly, leadership choices reinforce sustainability of performance: the Bank has invested in analytics and data governance to manage consumer credit risk at scale, and it is using improved bureau infrastructure to compete more effectively for digitally acquired customers. External validation adds weight, with recognition as Mid-Sized Retail Bank of the Year (Philippines) at the Asian Banking and Finance Retail Banking Awards 2025. The Capital Finance International (CFI.co) Judging Panel congratulates EastWest Bank on winning the Leaders in Consumer Finance Excellence Philippines 2026.


Jasmin Capital: Excellence in Private Markets Secondary Advisory Europe 2026

The panel values advisory models that align strategy, control and outcomes, particularly in private markets where liquidity is uneven and execution risk can be material. Jasmin Capital's case was persuasive because its strategy is focused on parts of the European secondaries market that can be underserved by larger platforms.

Founded in 2011, Jasmin Capital is an independent Private Market Advisor specialising in three core activities: Fund Placement, Secondary Transactions Advisory and Strategic Advisory. Since its inception, Jasmin Capital has advised more than 50 private market fundraisings (Private Equity, Private Debt and Infrastructure) and advises 15 to 20 secondary transactions per year.

As highlighted to the panel, Jasmin Capital brings senior-level, specialist attention to smaller and more complex mandates, including LP-led transactions ranging from a few million in NAV to several hundred million. This positioning requires strong client education, disciplined pricing, and close, hands-on management through to transfer.

Execution examples support the panel's view. The firm works with LPs undertaking a secondary sale for the first time, staying involved until fund interests are transferred. On the GP-led side, its alliance with Edmond de Rothschild Corporate Finance combines secondary-market expertise with M&A judgement for continuation funds and alternative exit routes.

Jasmin Capital's discipline appears relevant in a market where capital is available, but lower-quality assets may fail to transact. Its emphasis on mandate selection, transparency and execution certainty provides a credible basis for recognition. The Capital Finance International (CFI.co) Judging Panel congratulates Jasmin Capital on winning the Excellence in Private Markets Secondary Advisory 2026 Award (Europe).


EXIM Bank Malaysia: Excellence in Trade Connectivity & Market Access Asia 2026

EXIM Bank Malaysia (Export-Import Bank of Malaysia Berhad) has strengthened Malaysia’s international trade footprint by building commercially relevant corridors across Africa, Central Asia, the Middle East and ASEAN, enabling exporters to compete more effectively in high-growth markets that were previously underpenetrated. Through its Malaysia Global Connect (MGC) initiative, the Bank has moved beyond export promotion by creating direct pathways between Malaysian businesses and overseas buyers, investors and institutions. EXIM Bank Malaysia has amplified the global visibility of Malaysian companies through active participation in international trade exhibitions including participation in Dubai, China, Japan and Algeria, while leveraging targeted business matching programmes and inbound delegations from markets such as South Africa and Saudi Arabia to convert these engagements into tangible commercial opportunities. EXIM Bank Malaysia has further reinforced market access through strategic alliances with global export credit agencies and multilateral institutions, including the Islamic Development Bank, Berne Union, Aman Union, China Exim, Turk Exim, Saudi Exim, Indonesia Exim and Export Finance Australia, strengthening resilience and expanding financing cooperation across multiple jurisdictions. The panel recognises the effectiveness of integrated support mechanisms such as Skim Eksport Lonjakan (ExL) and the MGC Go-Export Cover schemes, which combine financing with Shariah-compliant protection against commercial and political risks, allowing exporters to enter underserved and higher-risk markets with greater confidence. These initiatives collectively demonstrate strategic coordination between financing, risk mitigation and international partnership development for exporters globally. The Capital Finance International (CFI.co) Judging Panel congratulates EXIM Bank Malaysia (Export-Import Bank of Malaysia Berhad) on winning the Excellence in Trade Connectivity and Market Access 2026 Award (Asia).


Kennox Asset Management: Excellence in Risk-Focused Global Value Investing Europe 2026

Since its July 2007 launch, Kennox Asset Management has kept the same investment leaders, Charles Heenan and Geoff Legg, on a single long-only global equity strategy built around patient value investing rather than benchmark proximity. That continuity gives the firm's risk discipline unusual visibility across market cycles.

Risk control begins at stock selection. The Kennox Strategic Value Fund avoids leverage, derivatives and hedging, and favours companies whose balance sheets, cash generation and valuations provide resilience when short-term earnings are under pressure. The approach is deliberately not deep value: the managers often avoid the cheapest stock in an unloved sector if its leverage is high.

Portfolio construction reinforces that caution. Kennox typically holds 20 to 40 stocks, with a current portfolio of around 30 names, an active share of about 99 percent and turnover usually below 15 percent a year. The fund may hold up to 20 percent cash when ideas are scarce.

Youngone illustrates the execution. Bought at about 4 times earnings with cash exceeding its market capitalisation, the investment case did not depend on precise timing of a recovery: valuation and balance sheet strength offered scope to withstand weak earnings while retaining upside if sentiment normalised.

Performance evidence supports the consistency of the method without obscuring its contrarian nature. Morningstar data for the A Acc share class showed a 31.6 percent 12-month return to 30 April 2026, while the managers' own equity exposure remains almost entirely invested through the fund.

Kennox's case rests on a coherent link between philosophy, governance and implementation: a stable team, concentrated conviction, low turnover and a clear refusal to compensate for uncertainty with financial leverage. The Capital Finance International (CFI.co) Judging Panel congratulates Kennox Asset Management on winning the Excellence in Risk-Focused Global Value Investing 2026 Award (Europe).


Royal London Asset Management: Leader in Net Zero Stewardship Europe 2026

Royal London Asset Management directs its climate stewardship towards holdings that contribute most to portfolio financed emissions, using Scope 1, 2 and 3 analysis to prioritise engagement where it can have greatest practical relevance.

The firm reported £199bn in assets under management in 2025. By 31 December 2024, the carbon footprint of its corporate fixed income and listed equity portfolios had fallen 35 percent against a 2020 baseline, supporting its 50 percent reduction target by 2030 and 2050 net zero objective.

As described to the panel, the proprietary Climate Transition Assessment is central to that operating model. It is designed for investment teams while remaining compatible with the Net Zero Investment Framework and Climate Action 100+, allowing engagement in terms familiar to issuers and other investors.

The governance architecture gives stewardship consequences beyond dialogue. Climate assessments, transition plan analysis and Transition Pathway Initiative scores inform voting recommendations, reviewed with governance specialists and portfolio managers. Where engagement stalls, issues can move through an engagement delivery group, the responsible investment committee and the senior investment committee.

Execution is also reflected in the firm's preference for engagement over broad exclusion, with thermal coal pure players identified as a limited exception and tighter mandate-specific approaches where clients require them. This preserves fiduciary flexibility while addressing transition, stranded-asset, policy, technology and demand risks.

Royal London Asset Management has broadened its stewardship agenda through public policy advocacy, a dedicated systemic stewardship role created in 2024, six-monthly client reporting, and work on just transition, adaptation, nature and private markets. The model is disciplined, transparent and appropriately cautious in a volatile policy and data environment. The Capital Finance International (CFI.co) Judging Panel congratulates Royal London Asset Management on winning the Leader in Net Zero Stewardship 2026 Award (Europe).


Azer Turk Bank (ATB): Green Banking Sustainability Pioneer Azerbaijan 2026

Azerbaijan's shift towards a greener economy is testing whether domestic lenders can translate policy ambition into disciplined credit decisions. Azer Turk Bank (ATB), a state-owned institution, has responded by placing ESG criteria and the Central Bank of Azerbaijan's 2024 Green Taxonomy inside its lending and risk-management processes.

The bank reported assets of AZN2.19bn at year-end 2025, while first-quarter 2026 net profit rose to AZN4.55m from AZN3.83m a year earlier. Those figures support the view that ATB is pursuing sustainability from a position of operating resilience rather than as a standalone branding exercise.

As described to the panel, the bank's rationale is rooted in risk control and capital allocation. Management framed climate and transition exposure as future liabilities if left outside portfolio decisions, especially as ATB moves further into corporate lending, where environmental and social impacts are more material.

Execution is visible in product design and partnerships. The bank's 2025 Green Business product offers preferential financing, commission exemptions and related benefits for eligible projects in renewable energy, waste management, water preservation, public health and environmental protection. ATB also signed an agreement with the energy regulatory agency to help clients access financing for energy-efficiency projects.

Governance and disclosure are advancing in parallel. ATB has prepared its first sustainability report for 2022–2024 under GRI standards, is working on a sustainability division and committee, and has aligned activity with the UN Global Compact. Its use of PCAF methodology to calculate Scope 3 emissions is notable where comparable disclosure is still developing.

ATB's approach links sustainable finance to credit quality, transparency and institutional accountability. The Capital Finance International (CFI.co) Judging Panel congratulates Azer Turk Bank (ATB) on winning the Green Banking Sustainability Pioneer 2026 Award (Azerbaijan).


Zain Kuwait: 5G Advanced Network Innovation Leader GCC 2026

The panel values network innovation when it is tied to strategy, control and customer outcomes rather than technology deployment for its own sake. Zain Kuwait's 5G Advanced programme was assessed in that context, given the role of mobile networks in a market where wireless infrastructure carries much of national broadband demand.

Zain Group reported that Kuwait remained its flagship operation, with 2025 revenue up 4 percent to KD386m and EBITDA up 6 percent to KD139m. Opensignal's November 2025 assessment named Zain Kuwait the country's Best Network, citing strength in reliability, consistent quality, coverage and 5G coverage.

As described to the panel, Zain’s leadership has driven a shift from connectivity provider towards a more agile Tech Co, aligned with Kuwait Vision 2035 and demand from consumers, enterprises and government. The strongest evidence was governance discipline: innovation is tested against customer behaviour, spectrum economics and service quality, not only technical benchmarks.

Execution has been specific. Zain was among the first to launch nationwide 5G Advanced services in Kuwait in 2025 and used a free trial to test adoption and customer value. Its 31Gbps trial across N41, N77, N78, and millimetre-wave spectrum informed decisions on carrier aggregation, hotspot densification and the balance between coverage and high-capacity zones.

The company described a long-standing move from KPI-based engineering towards KQI-based customer experience management. AI-enabled network analysis is used to detect issues earlier, understand traffic patterns and support proactive optimisation in dense business districts and high-usage areas.

Partnerships with Huawei, Microsoft, Amazon, Google, Samsung and Apple add breadth, but the panel placed greater weight on how those relationships are governed. The planned Huawei digital BSS upgrade is expected to reduce time to market, improve omnichannel journeys and support data-driven service development.

The CFI.co (Capital Finance International) judging panel's conclusion reflects a practical, commercially grounded approach to 5G Advanced innovation, with clear links between investment, service quality and Kuwait's digital ambitions.


Co-operative Bank of Kenya: Digital Banking Inclusion Leader East Africa 2026

The panel values inclusion strategies that combine access, control and measurable outcomes. Co-operative Bank of Kenya was assessed on whether digital expansion has broadened participation for underserved customers rather than simply shifting existing users to lower-cost channels.

The bank reported FY2025 profit before tax of KSh40.3bn, up 15.8 percent, and profit after tax of KSh29.8bn, up 16.9 percent. Total assets reached KSh827.4bn in FY2025. In Q1 2026, profit after tax rose 21.3 percent to KSh8.41bn.

As described to the panel, the bank serves about 15 million customers and routes more than 90 percent of transactions through digital and alternative channels. Its reach is supported by 222branches, presence across 45 of Kenya's 47 regions, and channels including mobile, internet, USSD, agency banking and cardless ATM withdrawals.

The strongest strategic insight is the bank's co-operative ownership and operating model. Leadership has driven in-house digital development, which improves adaptability and reduces dependence on third-party economics. The panel viewed this as important for maintaining affordable services while protecting reliability and security.

Execution examples were specific. The bank supports customers without smartphones through USSD and cardless services, targets youth and women with lower-friction propositions, and uses webinars and tailored solutions to improve financial readiness. Its work with co-operative ecosystems, including coffee-sector participants, has added visibility and data discipline for farmers and member organisations.

The panel also noted the bank's willingness to share learning and its South Sudan experience as evidence of regional relevance. The judgement is therefore based on breadth, control and practical inclusion outcomes, rather than scale alone. The Capital Finance International (CFI.co) Judging Panel congratulates Co-operative Bank of Kenya on winning the Digital Banking Inclusion Leader 2026 Award (East Africa).


Polpo Capital: Excellence in CMBS Credit Investing North America 2026

The panel values investment strategies that combine specialist focus with clear controls, particularly where headline models can obscure loan-level risk. In North American CMBS, Polpo Capital's case rests on disciplined security selection, relative-value execution and a willingness to avoid exposures that do not meet its standards.

The firm reported regulatory assets of about $229m, including institutional separately managed assets. Its record includes a positive return of roughly 8 percent in 2022, as described to the panel, during a year when broader markets faced pressure. The panel viewed this as evidence of potential diversification, while noting the firm's short operating history.

Polpo's strongest strategic insight is that subordinate CMBS credit requires detailed bottom-up work. As described to the panel, the investment team reviews every loan in a transaction, including sponsors, tenants and tail exposures, rather than concentrating only on the largest collateral positions.

Execution is supported by a long-short structure using CMBX as the natural hedge. The team explained that hedging commercial real estate credit with high-yield or investment-grade indices would introduce collateral mismatch, while CMBX aligns more closely with the firm's long exposure.

Leadership has driven a focused platform around CMBS credit. Founder Dan McNamara's buy-side and sell-side experience, and the investment committee structure with portfolio manager Josh Nester, support sourcing and capital-structure judgement in a market that still depends heavily on relationships.

The development of long-only separately managed accounts shows measured adaptability without departing from the core competence. The panel recognises Polpo Capital for a specialist, risk-aware approach to CMBS credit investing, grounded in underwriting discipline rather than scale alone.


Bank of Baroda: Pioneer in Digital Transformation India 2026

Digital transformation delivers the greatest value when strategy, governance, inclusion, and measurable outcomes align. Bank of Baroda has demonstrated this through its sustained commitment to technology-led growth, operational excellence, and prudent risk management, establishing itself as a leading public sector bank driving digital transformation across India.

For FY 2025–26, the Bank reported a standalone net profit of ₹20,021 crore, with Q4 standalone net profit reaching ₹5,616 crore. Asset quality continued to strengthen, with Gross and Net NPA ratios improving to 1.89 percent and 0.45 percent, respectively, alongside a stronger cost-to-income ratio during Q4.

The judging panel particularly recognises the Bank’s partner-led digital strategy, which reduces dependence on any single technology provider, accelerates innovation, and supports scalable solutions across India’s diverse banking landscape. The effectiveness of this approach is reflected in strong adoption metrics, including 1,577 crore digital transactions, 20,057 digital touchpoints, and 97 percent of all transactions now conducted through digital channels.

The Bank has also advanced financial inclusion through practical innovation. Its bob World Lite platform, developed with Reliance Jio, enables feature-phone users to access mobile banking services, including UPI functionality, through a streamlined and accessible interface. Complementing this, enhanced capacity planning and the expansion of the phygital branch model continue to broaden digital access and customer engagement.

Risk management remains central to the Bank’s transformation agenda. Enterprise-wide monitoring systems, anomaly detection tools, CKYC integration, facial matching, and liveness verification capabilities have strengthened onboarding processes, fraud prevention, and regulatory compliance. Supported by leadership with a clear long-term vision and growing adoption of AI-led capabilities, Bank of Baroda continues to set a benchmark for trusted, inclusive, and scalable digital banking transformation. The Capital Finance International Judging Panel congratulates the Bank on receiving the Pioneer in Digital Transformation 2026 Award – India.


Export Credit Insurance Corporation of South Africa (ECIC): Excellence in Export Credit Enablement Africa 2026

South Africa's target of lifting export value from just over R2tn to R3tn by 2030 gives ECIC's mandate a clear test: whether risk mitigation can turn regional demand into financeable trade. As a state-owned export-credit insurer, its role runs beyond insuring transactions to widening participation among exporters, manufacturers, emerging firms and black entrepreneurs where political and commercial risks deter private appetite.

The 2024/25 results show total assets of R10.68bn, net assets of R9.43bn and a R956m surplus after the prior year's deficit. Notably, during the year ECIC paid a R1bn claim on Ghana's sovereign default yet still grew its capital base, the test of any credible insurer. The external audit opinion was unqualified, with remaining findings being addressed.

Over the last 15 years ECIC has supported 57 cross-border investments and export trade transactions worth about $4.8bn, spanning power projects in Ghana and Mozambique, mining, rail, manufacturing, telecommunications and road infrastructure. Afreximbank anchors its partnership model: ECIC has moved from Class B to Class A, and the South Africa-Africa Trade and Investment Promotion Programme (SATIPP) provides liquidity, syndication and de-risking. A risk-sharing arrangement with Japan's NEXI supports Japanese firms registered in South Africa and exporting across the continent.

Risk selection weighs sovereign and project viability, creditworthiness, political stability and environmental impact, with growing emphasis on ESG and climate-resilient infrastructure. Short-term credit insurance, cedable policies and bank-facility cover speed approvals and ease working-capital access. ECIC is also helping build the business case for a national export-import bank targeted for 2028, while a pipeline of about $3bn under evaluation, expected to close between 2026 and 2031, could generate roughly $1.5bn in South African exports.

The Capital Finance International (CFI.co) Judging Panel congratulates ECIC on the Excellence in Export Credit Enablement Award (Africa 2026).


Wood & Company: Leader in Sustainable Investment Banking Emerging Europe 2026

A 42 MWp solar power plant in Romania and a 70 MW / 160 MWh battery storage system in Sweden give Wood & Company's Renewables Sub-Fund asset-level substance in a market where sustainable finance depends on demonstrable delivery. Finnish battery projects under construction add to that platform, linking energy-transition exposure with return discipline rather than treating ESG as a separate label.

Regional reach is material. Wood & Company manages € 5.8bn in assets, covers more than 150  traded companies and operates across 22  capital markets, giving it scale across investment banking, asset management and advisory work in Central and Eastern Europe.

The most persuasive strategic feature is integration. Sustainability considerations appear in M&A advice, infrastructure mandates, real estate funds and investor education, with clients encouraged to assess how much of their portfolio is green or ESG-certified. This aligns with CFI.co's preference for strategies that connect purpose, control and commercial resilience.

Building-level execution provides clear evidence of control. Across its real estate portfolio, the firm measures energy efficiency, installs photovoltaic capacity, monitors waste separation and uses CREM modelling for individual assets and portfolios.

Governance capacity reaches beyond product design. Wood & Company seeded Esgrovia , an ESG and energy-certification business serving the Czech and Slovak markets, and has prepared a green bond framework. That matters where green bond issuance remains comparatively modest.

Inclusive employment practices reinforce stewardship culture. With more than 500 employees, 13 nationalities and structured part-time opportunities for women returning from maternity leave, the firm presents sustainability as an operating discipline as well as an investment theme. The Capital Finance International (CFI.co) Judging Panel congratulates Wood & Company on winning the Leader in Sustainable Investment Banking Emerging Europe 2026 award.


Banco Azteca Mexico: Champion of Financial Literacy and Inclusion Mexico 2026

Aprende y Crece, the Bank’s free financial education and entrepreneurship programme, has reached more than 39 m people, providing practical instruction on savings, credit, investment, fraud prevention, and entrepreneurship. This initiative links financial education to the everyday decisions of Mexican households.

That scale matters because access without understanding can increase vulnerability. Banco Azteca Mexico's model connects education with branch proximity, digital channels and products used by customers who may have limited prior experience of formal finance, making literacy part of responsible inclusion rather than a separate social initiative.

Parent company Grupo Elektra's 2025 results provide relevant context for the bank's capacity to sustain outreach. Consolidated revenue reached Ps.215,356m, up 7 percent, while the financial business grew 12 percent, and Banco Azteca México's traditional deposit-to-gross loan ratio of 1.2 times points to funding discipline behind expansion.

Finanzatlón Azteca illustrates the execution behind the broader strategy. During the 2025 National Financial Education Week, the initiative used interactive formats to engage young people, entrepreneurs and families, translating financial concepts into accessible learning rather than relying on classroom-style instruction alone.

Risk awareness is an important feature of the approach. By including fraud prevention, credit responsibility and entrepreneurship alongside savings and investment, the bank addresses both opportunity and protection, which aligns with CFI.co's emphasis on outcomes supported by control, governance and measurable social relevance.

The resulting case is strongest where social purpose and commercial discipline meet: broad reach, product-linked education and prudent funding indicators together suggest an inclusion model with practical depth. The Capital Finance International (CFI.co) Judging Panel congratulates Banco Azteca Mexico on winning the Champion of Financial Literacy and Inclusion 2026 Award (Mexico).


Leo RegTech: Compliance Automation Trailblazer Europe 2026

Leo RegTech began as compliance software built inside Laven Group, the consultancy and UK regulatory hosting business founded by Jerome Lussan in 2005 after leaving his legal career at Jones Day and working for a hedge fund. When the group narrowed its focus from consulting to scalable RegTech in 2022, the platform became a standalone SaaS business. That origin remains material: Leo was built by compliance practitioners, with usability, audit trails and regulatory responsiveness embedded from the start.

The firm supports more than 200 clients, primarily across the UK, France and the US, with more than 5,000 users. Client assets under management range from $5m to more than $60bn, indicating relevance to smaller regulated firms and complex institutions alike.

As described to the panel, the defining strategic choice has been to keep product development close to compliance users. Leo maintains a client wish list, converts recurring needs into its technology roadmap, and keeps front-end teams in direct contact with developers. This reduces the risk of building functionality that is technically interesting but operationally marginal.

Execution is visible in the platform’s coverage of monitoring, employee attestations, approvals, e-learning, client onboarding KYC, product due diligence and audit trails. The consultancy workflows now embedded in Leo reportedly achieve time savings of about 40 percent, a useful indicator of practical efficiency.

The company moved early on AI, in 2023, with Eva AI already live as a regulatory assistant, financial-promotion reviewer and policy-drafting tool. Further tools are in development for RFP responses, operational due diligence and data management from Leo to Eva AI. Its leadership frames automation in jurisdictional terms, noting that UK and US requirements differ: an appropriately controlled approach.

Independent of private equity ownership, Leo is free to prioritise client utility and regulatory fit over short-term monetisation. The Capital Finance International (CFI.co) Judging Panel congratulates Leo RegTech on winning the Compliance Automation Trailblazer Europe 2026 award.


Arca Fondi SGR: Best Emerging Markets Debt Manager Europe 2026

Arca Fondi SGR merits recognition for cultivating a disciplined and research-driven investment architecture in emerging markets debt, where durable outcomes depend as much on risk governance as on return ambition. The judging panel highlights the firm’s structured integration of macroeconomic scenario analysis, sovereign balance-sheet evaluation and issuer-level credit research, creating a repeatable framework capable of navigating volatile capital flows, currency movements and shifting liquidity conditions. Portfolio construction reflects careful diversification across sovereign, quasi-sovereign and corporate issuers, combined with active duration and currency management designed to protect portfolios during periods of stress. The firm’s broader multi-asset research platform further strengthens this approach by providing deeper regional coverage and informed relative-value comparisons across emerging economies. This analytical depth enables Arca Fondi SGR to identify mispriced risk while maintaining strict governance standards and transparent accountability to investors. External recognition supports the consistency of execution, including the Fundclass European Funds Trophy and the ITQF “TOP Gestore Fondi BIG 2026 - Italia” seal, which emphasises both performance and drawdown control within its methodology. Crucially, the firm treats emerging markets as a strategic allocation rather than a tactical opportunity, requiring patience, rigorous research and institutional discipline. Such stewardship underpins its credibility among European investors seeking resilient exposure to developing economies. The Capital Finance International (CFI.co) Judging Panel congratulates Arca Fondi SGR on winning the Best Emerging Markets Debt Manager 2026 Award (Europe).


Zurich Workplace Solutions (ZWS): Excellence in Workplace Savings and End-of-Service Benefits GCC 2026

Zurich Workplace Solutions (ZWS) provides administration and technology ecosystem services, serving as Administrator to the Dubai International Financial Centre (DIFC) Employee Workplace Savings (DEWS) plan since inception and also to a qualified UAE end of service Plan. ZWS is part of Zurich International Life Ltd, the Middle East life and savings business of Zurich Insurance Group. With more than 40 years in the region across the UAE, Bahrain and Qatar and over 323,000 customers, Zurich has demonstrated the pedigree, governance and capabilities necessary to deliver at scale.

ZWS has turned manual, fragmented end-of-service processes into a seamless, transparent and engaging savings ecosystem. It now administers USD 1.4 billion in Assets under Administration (AUA) across more than 70,000 members and more than 2,700 employers, including 79 Dubai Government and Free Zone authorities, making it the administrator of the largest regulated defined contribution scheme in the Middle East. ZWS differentiates itself through excellence in the fundamentals of member focused and technology-led administration, reducing complexity and cost for partners while improving speed, knowledge, transparency and security for members.

Member engagement is built into the digital delivery model through Arabic and English applications and portals showing balances, contributions, beneficiaries, fund performance and investment options. More than AED1.5bn in end-of-service benefits has been paid, demonstrating capacity when employees require access to funds.

The evidence supports a measured model of control, inclusion and member ownership as workplace-savings regulation develops across the GCC. The Capital Finance International (CFI.co) Judging Panel congratulates Zurich Workplace Solutions (ZWS) on winning the Excellence in Workplace Savings and End-of-Service Benefits GCC 2026 award.


BAEZ (Bulgarian Export Insurance Agency): Excellence in Export Credit Liquidity Support Europe 2026

BAEZ, Bulgaria's state export credit agency, issued a €3m guarantee on 5 June 2026 to reinsurers of motor third-party liability (MTPL) cover for the country's international hauliers. Four days later the Financial Supervision Commission withdrew the licence of DallBogg: Life and Health for failing the Solvency II minimum capital requirement, its recovery plan refused. BAEZ puts DallBogg's book at roughly 20,000 of Bulgaria's 55,000 haulage trucks; cover had reached €3,300 a vehicle.

BAEZ holds no licence for MTPL or reinsurance, so it guarantees rather than underwrites: it meets delayed reinsurer payments and retains recourse for anything it pays. Its liability attaches only above a loss ratio of 120 to 150 per cent; below that, risk stays wholly with private reinsurers. It runs to 4 June 2027.

All 17 licensed companies were invited, competing on end-user price and commission; one took up the terms. Cover now renews at €2,000, with 1,204 trucks insured in the scheme's first month. BAEZ annualises that to 15,000 vehicles and a €19.5m sector-wide saving. The process was open; delivery rests on one balance sheet.

Dual authority under the Insurance Code and Export Insurance Act lets BAEZ combine its own balance sheet with state-backed cover. It also guarantees 85 per cent of working-capital lending to smaller operators, taking only exposures performing before fuel costs rose: it insures the shock, not pre-existing distress. A proposed €250m cover for a large leasing company would free the same sum for new lending, though central-bank treatment of rescheduled exposures has slowed it.

Euro accession in January invites comparison with European peers, and this one stands up to it. What earns the recognition is construction and timing rather than scale: a bounded, recoverable guarantee, openly allocated and dated, available before the book needed re-placing. The construction travels; the loss of a dominant carrier is a risk any small market runs.

The Capital Finance International (CFI.co) Judging Panel congratulates BAEZ on winning the Excellence in Export Credit Liquidity Support Europe 2026 Award.