Russia

BEST BANK
Vneshtorgbank

BEST DEBT HOUSE
UBS

BEST EQUITY HOUSE
UFG

BEST LOAN HOUSE
ABN Amro

Alfa Bank deserves a special mention for its performance in the past year. The plucky private-sector bank fought off a run on its deposits in May to post the best annual profits it has ever achieved. However, the best bank in Russia award goes to state-owned Vneshtorgbank (VTB), reflecting the realities of business in Vladimir Putin’s Russia.

The reality is that the Kremlin is currently obsessed with control, and that certainly goes for the banking sector.