BEST BANK
Nordea
BEST DEBT HOUSE
CSFB
BEST EQUITY HOUSE
ABN Amro
BEST M&A HOUSE
Handelsbanken Capital Markets
Nordea is the largest bank by assets in Sweden, with $342.99 billion, compared with second place SEB's $217.14 billion and Svenska Handelsbanken's $194.75 billion, but it wins best bank not for its size but for its dramatic improvement in performance. Net profit in 2004 increased by 28% to an all-time high of €1.91 billion, compared with €1.49 billion in 2003, and operating profit increased 26% to €2.28 billion on an increase in total income of just 3%. That performance can largely be attributed to a 5% fall in costs as a result of improved efficiencies.
Credit Suisse First Boston was ranked number one for public debt market issues over the awards period, with a market share of 10.47% compared with second-place Citigroup on 6.29%.
CSFB completed 20 deals, according to Bondware, including some of the largest of the year, such as Spintab's €1 billion FRN in January and Länsförsakringar Bank's €400 million inaugural three-year FRN. Each of CSFB's lead-managed transactions achieved strong aftermarket performance – a fact recognized by the issuers through repeat mandates.