The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

EMERGING MARKETS: Going native in emerging markets

The international houses can no longer claim to have a monopoly ofinvestment banking in emerging markets. But if you do decide to go native, whichinstitutions can you trust? We asked those in the know who they like to deal withwhen a foreign bank just won't do. James Gordon-MacIntosh reports

Europe

Greece

Alpha Finance

Alpha Credit Bank is described by one analyst as the "most aggressive new boy" in the Greek investment markets, competing against the big state-owned banks for business. It is a major primary dealer in government debt, having participated in all the auctions that have taken place, and is one of 13 market-makers. Alpha Brokerage, the brokerage arm, accounts for 6% of the group's total revenues.

Business for private banks in the Greek capital market has been hard to come by because the large public-sector utilities use the state banks. Analysts expect the private banks' position to improve as Greece liberalizes and the public sector gets smaller. The state banks will, however, take most of the fee revenue from any privatizations. Despite these impediments, Alpha has been appointed a joint adviser to the Greek government on the national gas-distribution project, and was heavily involved in the IPO of telecommunications company OTE.

Turkey

Turk Ekonomi Bankasi

Turk Ekonomi Bankasi (TEB) has played an increasingly large role in the Turkish markets as they have undergone rapid development. Over the past four years it has participated in 11 major public offerings for private companies, in nine of which it was the lead-manager.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree