Best Bank: National Bank of Greece
In an eventful year for Greek banking, in which foreign and domestic takeovers topped the agenda, National Bank of Greece has stood out not only for its successful takeover and integration of Turkey’s Finansbank, but also for the impressive numbers it keeps turning out. With a return on equity of 30% and on-track plans to grow 30% a year until 2009, NBG is the bank that stands out for all the right reasons in Greece this year.
In investment banking, Citi has established the strongest and broadest franchise in Greece, where it is a regular at the top of the league tables. Over the past 12 months, Citi has led the field in equity capital markets and come second to Deutsche Bank in bond issues. In M&A the bank placed sixth, giving it by far the most consistent showing in Greece.
Citi’s strong investment banking franchise in Greece is underpinned by its strong position in the secondary equity market, where it is the most active trader, with as much as one-third of the market.