Ireland

BEST BANK
Allied Irish Banks

BEST DEBT HOUSE
BNP Paribas

BEST EQUITY HOUSE
Davy Stockbrokers

BEST M&A HOUSE
Ernst & Young

After a year challenged by media attention, AIB is now back on track, with performance for 2004 returning to double digits. Its attempt to grow income faster than costs is paying off, with the former increasing by 11% and the latter just 7% over the last year. Its return on equity is now better than that of its closest competitor, Bank of Ireland, as are its profits at €1.4