Russia

Euromoney Awards for Excellence 2004

Best bank


MDM Bank Best bond house
Trust Investment Bank

Best equities house
Troika Dialog

Best M&A house
Alfa Bank

The Russian banking sector has been particularly active in the past 12 months, with the first half seeing some acquisitions, and the second half some liquidations. In July 2003, Rosbank bought OVK, the retail bank that was left over from SBS-Agro, which was once the second-biggest bank in Russia but then became the biggest bankruptcy in Russian history in 1998.