Indonesia

Best bank – NISP
Best equity house – Bahana Securities
Best debt house – Triple A Securities
Best M&A house – Goldman Sachs

The recapitalization bonds pumped into many of Indonesia’s banks to keep them alive after the 1998 financial crisis still weigh on their balance sheets. Although there is a move toward higher interest earning loans the banks still have to dispose of over Rp358 trillion ($42 billion). Last year’s winner of the best bank award, BCA, is still one the better performers and has a strong reputation for its transaction business.