India

Best bank
ICICI Bank Best equities house
Goldman Sachs/Kotak Mahindra

Best debt house
Standard Chartered Bank

Best M&A house
Citigroup

ICICI Bank?s results for fiscal year 2003 speak for themselves. Net profit was up 36%, interest income up 32% and fee income up 38%. Retail assets rose by 74% and deposits by 4%.

ICICI is India?s second largest bank, but easily the best managed. It has a network of 450 branches and offices and 1,750 ATMs. Its leading position is perhaps best indicated by the success of its maiden bond offering in October 2003.