Danske Bank Best debt house
Best equities house
Best M&A house
Carnegie Investment Bank
Dankse Bank and Nordea dominate in Denmark, with almost 60% of the market. Danske is the larger, with DKr1,826 billion ($298 billion) in assets, and has a 28% market share of lending and 35% of deposits. It is also strong in investment banking, insurance and asset management.
Danske?s net profit reached Dkr9,286 million, its best results ever. The bank lowered its cost/income ratio to 55%, compared with 57.2% in 2002. Year on year, the bank increased its EPS by 13%, lowered cost/income to 51.6% and increased core earnings by 3% to reach Dkr2,937 million. In April, Moody?s upgraded Danske?s long-term rating from Aa2 to Aa1.
Both JPMorgan and BarCap were strong contenders for best debt house. Both were strong in bond issuance for sovereigns and financials and in loans. However, JPMorgan advised a on the largest loan transaction in the region in 2004 to date, a e2.45 billion acquisition financing facility for Carlsberg.
Primary equity market activity in Denmark has been light. The biggest equity deal was the DKr3,423.5 million rights issue for Carlsberg in April.