Best bank – Bulbank
Best M&A house – JPMorgan
Best debt house – JPMorgan
Best local partner – First Investment Bank
Bulbank maintains its lead in wholesale banking in Bulgaria. It had a good 2002, with operating income up 28%, and particularly benefited from parent bank UniCredito Italiano’s new system for loan underwriting, which simplifies the procedure. Thanks to that, Bulbank’s loan portfolio grew by 56%.
However, the banking sector is likely to become more competitive next year, as regional heavyweight OTP invests in its new acquisition DSK, which it bought in May 2003 for e311 million.
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