Denmark

BEST BANK
Danske Bank

BEST DEBT HOUSE
JPMorgan

BEST EQUITY HOUSE
ABN Amro

BEST M&A HOUSE
Nordea Capital

Danske Bank is peerless in the Danish bank market. Second-placed Nordea has an operating income of less than half the $4.93 billion recorded by Danske in 2004 and Danske has total assets of $380 billion – more than three times Nordea’s. Danske’s position has been fortified this year, with a net profit of DKr3 billion ($492 million) in the first quarter of 2005, against DKr2.24