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Awards for Excellence 2009: Korea

Best Bank: Korea Exchange Bank
Best Debt House: Bank of America Merrill Lynch

Korea’s beleaguered banks have probably emerged from the past 12 months with more credit in the eyes of international investors than either side might have expected. There had been murmurs about the banking system’s poor capitalization even before Lehman Brothers went under; led by Kexim’s successful issuance in January they began to recapitalize and posted decent end-of-year numbers. While last year’s winner Shinhan was among the better performers, Korea Exchange Bank (KEB) deserves to be named the country’s best.

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