Austria

BEST BANK
RZB- Austria

BEST DEBT HOUSE
CSFB

BEST EQUITY HOUSE
Merrill Lynch

BEST M&A HOUSE
Deutsche Bank

The three largest Austrian banks have proved their mettle in a challenging economic environment. Bank Austria Creditanstalt increased its profits in 2004 by 36%, largely through its activities in central and eastern Europe, and Erste Bank der Österreicheischen Sparkassen achieved a pre-tax profit of more than €1 billion, nearly 40% up on the previous year.

But Raiffeisen Zentralbank Österreich was the best of the bunch. Although its total profits lag those of Bank Austria Creditanstalt, RZB’s 106% pre-tax profit increase cannot be ignored.