Awards for Excellence 2008: Korea
Best bank: Shinan Bank
Best debt house: Deutsche Bank
Best M&A house: Citi
Korea’s banks face a difficult couple of years: the market has become extremely competitive, and analysts agree that raising profitability will be tough. As in Japan, the answer for the top banks might lie in expanding elsewhere in Asia, where there is still plenty of room for growth. Shinhan Bank, which retains the award for best bank in Korea that it won last year, has already begun that process by opening Shinhan Khmer Bank in Cambodia, as well as a branch in Beijing and a fourth in Dong Nai in Vietnam.
At home, Shinhan recorded the highest rate of external growth among Korean banks through household loans, deposits and beneficiary certificates as it sought to adapt to market demands; it also opened 1.26