 Awards for Excellence 2010 |
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| Best Global project finance house: BNP Paribas | |
| Also nominated: Société Générale and BBVA |
BNP Paribas has had another outstanding year in project finance and is a driving force in every sector and region of this market. The French bank is Euromoney’s best global project finance house for the second year running and has spent the past 12 months cementing its leading position in this business. In addition to a top-five ranking in the global league tables, the bank has been at the forefront of innovation during the year as well. But the nature of project finance has changed dramatically over the past couple of years and project finance banks have had to change with it.
"Prior to 2007 the large banks in project finance were those with the ability to underwrite," says Emmanuel Rogy, global head of project finance at BNP Paribas in Paris. "They could easily take a €1 billion chunk of a deal and distribute it later – that was 90% of what we were doing, but today that business no longer exists. Today it is not about the ability to underwrite, it is about the ability to bring additional sources of funding to a club deal."