BEST DEBT HOUSE
BEST EQUITY HOUSE
BEST M&A HOUSE
Parex Banka is the largest bank in Latvia by assets – ahead of Hansabanka and SEB Latvijas Unibanka, now known as SEB Unibanka. Bank assets grew by 33.2% in 2004, the volume of deposits by 32.1% and the volume of loans issued by 43.7%. The bank's mortgage portfolio grew an impressive 104.6% and Parex's market share in terms of assets was 17.8%, its share of deposits 20.4% and its market share of loans 15.2%. Rated Ba1– by Moody's and BB+ by Fitch, Parex became the first company from Latvia to access the syndicated loan market and in April launched the country's first Eurobond.
Government bond sales were the biggest deals from Latvia in 2004 and, completed without the assistance of a bookrunner, the competition for mandates was necessarily limited. Only Parex and SEB Unibanka won mandates during the year – Parex for two deals for Mortgage and Land Bank and SEB Unibanka for Komercbanka Baltikums. By virtue of SEB Unibanka's larger market share of 20.6% versus 5.46% for Parex Banka, it takes the title of best debt house of the year.