Best managed companies in Central and Eastern Europe 2010: Good governance leads to funding advantage
Garanti’s first place in the CEE companies poll for the second successive year is reflected in its high standing in the capital markets. Other top contenders are similarly favoured. Guy Norton reports.
A TELLING FACT from this year’s Euromoney best-managed central and eastern European companies poll is that virtue does seem to bring its own reward in financial terms for many of the winners. Right from overall winner Garanti Bankasi down to the country categories, the winners are generally conspicuous for having already enjoyed, or being poised to enjoy, success in the international capital markets as a result of their management prowess.
Pick of the bunch Garanti, for example, is sounding out the main players in the syndicated loan market in search of a new facility to replace an $815 million loan that came due in March, as a result of its successful weathering of the global credit crunch and the subsequent economic slowdown.