Best bank
Hansabankas Best debt house
Parex Bank
Best equities house
Suprema Securities
Best M&A house
Suprema Securities
Three banks dominate: Hansabankas, Latvijas Unibanka and Parex Bank. Hansabankas scoops best bank for its consistent market shares and strong performance figures.
Unibanka has the biggest market share in loans and Parex the biggest in the deposits market. However, Hansabankas is the most consistent, with the second-largest share of both the loans and deposits markets. The bank?s corporate banking lending portfolio increased by 30% year on year, its SME loan portfolio increased by 113% during 2003 and trade finance volumes were up 34% to reach $84 million. In addition, Hansabankas had the highest turnover on the Riga stock exchange in 2003.
The bank was also the most profitable, with good return on equity and return on assets ratios. Profits were up by 39% to Lats14.6 million ($27.3 million). Parex?s profit reached Lats13.423 million, 44% up. Unibanka?s profit was Lats13.3 million.
The largest primary market debt transaction completed was the e400 million issue for the Republic of Latvia. Citigroup was sole bookrunner and Parex Bank, Unibanka and Nord/LB were co-managers. Parex Bank wins best debt house for its role in primary debt market issuance, loan markets and secondary market activity. Parex acted as an adviser for a Lats21 million syndicated loan for Latvenergo, along with WestLB. The bank was a lead manager for a bond issue due 2008 for Depfa Bank, a forward rate note for SEK and an issue for WestLB. Parex also had the second highest turnover on debt securities on the Riga exchange.
Suprema Securities wins best equities house. It completed the only IPO, as well as other primary market deals, and has a presence on the local stock exchange. SAF Tehnika was listed on the Riga exchange for e25.8 million, the first non-privatization IPO in Latvia since 1997, and was the largest ECM transaction in the Baltics in two years.
Suprema also scoops best M&A house for its involvement in the largest transaction. Finland?s Lassila & Tikanoja Oyj acquired 100% of Hoetika ATU. Trigon Capital advised on a private share issue and placement for DT Mobile valued at under e5 million and Hansabank placed e3 million-worth of new shares in private company Lauma.
