Deutsche Bank, Standard Chartered Bank and Citi lead the winners in The Asset Triple A Country Awards 2011 in Australia and South Asia as they demonstrated the strength, diversity and depth of their franchises amid the difficult market environment.
In Australia, Deutsche Bank is The Asset’s choice as the best foreign investment bank for the ninth year in a row as it continues to help its clients arrange deals across different product suites. In a year characterized by market volatility, it completed complex transactions such as the acquisition of Axa Asia-Pacific by Axa SA and AMP.
In the equity capital markets, Deutsche Bank created innovative structures to deal with client issues such as the Santos and Origin hybrid transactions and the AUD300 million convertible bonds for Colonial First State.
Barclays Capital continues to exhibit strong M&A credentials with landmark transactions involving BHP Billiton-Petrohawk, the takeover precedent-setting cross-border public transaction involving Qiagen and Cellestis, and the largest Australian company divestment with Centro selling its US portfolio to the Blackstone Group for USD9.4 billion.
Barclays also wins the best debt house award due to product innovation, high quality execution in volatile markets and for innovative capital management the enables its clients to enjoy greater funding flexibility.
Over in India, Deutsche Bank retains the best bank accolade for the fourth consecutive year, while Citi is the best foreign investment bank for the eighth year as it showed the diversity of its franchise in what is one of the most competitive markets in Asia.
Axis Bank also retains the two awards it won last year – best domestic bank and best domestic bond house – as it delivers superior profitability metrics against its peers and consistently gaining market share.
Standard Chartered Bank attains leadership position in India’s debt capital markets, extending comprehensive offerings in both foreign and local currency financing. The bank likewise retains the best M&A house award.
Kotak Investment Banking is again the winner of the best domestic investment bank award for the sixth year in a row, while Bank of America Merrill Lynch snatches the best equity house honour, anchored on its key deals involving Petronas’ USD2.1 billion block trade, Coal India’s USD3.5 billion IPO and Power Finance Corporation’s USD1 billion follow-on offering.
In Pakistan, Standard Chartered Bank displays its commitment to this market with several business initiatives on SMEs, consumer banking, Islamic banking and servicing high net worth banking customers.
Its wholesale banking franchise is noted for its expertise and has a solid track record for innovative transactions. These include the first ever local currency shipping finance transaction for Pakistan National Shipping Corporation amounting to USD120 million equivalent.