Australia
Best domestic bank National Australia Bank
There is no question that National Australia Bank is the best bank in Australia. It avoided the bad debts that have set back its competitors and last year made a record net profit of A$2 billion (US$1.5 billion). This is underpinned by one of the lowest cost to income ratios of any Australian bank.
Best securities house JB Were
JB Were remains one of the few securities houses not affiliated to a bank and sometimes garners client business from this as a consequence. Many of the international banks now outstrip its market share its brokerage has 6.7% of the market but the brand remains strong. It is also a significant player in underwriting.
Best foreign bank Citibank
Australia's big-four banks have been forced to take notice of Citibank's drive into their market, both in commercial and retail banking. Citi's net profit in 1996 was up 19.4% to US$160 million. It was recently awarded the mandate to handle all the high-volume currency disbursements for the Reserve Bank of Australia.
Best foreign securities firm Deutsche Morgan Grenfell
Deutsche Morgan Grenfell wins this award for its breadth of business.