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Russia

Euromoney Awards for Excellence 2004

Best bank


MDM Bank Best bond house
Trust Investment Bank

Best equities house
Troika Dialog

Best M&A house
Alfa Bank

The Russian banking sector has been particularly active in the past 12 months, with the first half seeing some acquisitions, and the second half some liquidations. In July 2003, Rosbank bought OVK, the retail bank that was left over from SBS-Agro, which was once the second-biggest bank in Russia but then became the biggest bankruptcy in Russian history in 1998.

The acquisition gives Rosbank a network of 350 branches, as well as a strong consumer loan business.

NIKoil, once a voucher fund for LUKoil, also took a bold dive into retail banking with the acquisition of Avtobank and Uralsib. The latter bank was the fifth largest in Russia. The new bank, to be called Uralsib, will have a network of about 500 branches.

Both these banks are likely to become serious players as universal banks. Both can combine a good branch network with corporate and investment banking expertise.

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