|BEST BANK: Bank of Communications
BEST EQUITY HOUSE: Credit Suisse
BEST DEBT HOUSE: CICC
BEST M&A HOUSE: Morgan Stanley
A glance at Bocom’s financial performance explains why it got to market first. With a net interest margin of 2.91%, a cost-income ratio of 51.24% and a return on average assets of 0.72%, the second highest of any bank in China, Bocom provided its shareholders with a return on average equity for the 2005 financial year of 13.52%, a highly creditable result when compared with its direct competitors. Bocom also enjoys a strong balance sheet, with a capital adequacy ratio of 11.29% and non-performing loans of about 3%.
Despite its 55,000 employees and 2,600 outlets, Bocom is surprisingly nimble-footed and its business development is well ahead of the competition.