The annual Triple A Country Awards mark a significant escalation in The Asset’s efforts to reach out to clients of banks pitching for the awards. This exercise, which allows the clients to freely open up about their banking partners and their product and execution capabilities, has solidified what is already a rigorous review process, thus tremendously helping in making the decisions to name the awardees.
In the first of three series announcing the winners of The Triple A Country Awards 2014, we reveal the awardees in Australia, India and Pakistan, which will be followed by the announcement of winners in Southeast Asia and North Asia respectively.
In Australia, Westpac makes history sweeping the accolades of best bank and best domestic bank for the first time. The bank’s credentials are supported by its strong financial standing and diversified product capabilities, allowing it to deliver a full spectrum of solutions to institutional and retail clients.
UBS remains the force to reckon with in Australia’s investment banking space, winning once again the accolades of best foreign investment bank, best equity house and best M&A house. The bank was one of the most active bookrunners in the equity capital market, having managed numerous block trades, a number of large and high-profile IPO transactions across a range of industry sectors. Its consistent position as a leading corporate advisor in domestic and Australasian cross-border deals was demonstrated by 32 M&A deals it completed during the review period including landmark Westfield Retail Trust's A$28.5 billion merger with Westfield Group's Australian and New Zealand operations.
Citi had another outstanding year in Australia, where it retained the recognition of best debt house and best brokerage house. The bank was the most active debt house during the review period across Australian dollar and offshore market. It is one of the few banks that has top ranking positions both in in the offshore bond market as well as boasts a highly competitive Australian dollar franchise. For its leading market position, top-notch execution platform and distribution capability, Citi is awarded best brokerage house for the third year in a row.
ANZ wins best domestic bond house for the fourth consecutive year, continuing to outperform the market in the onshore bond markets while also introducing market leading innovative transactions during the review period.
Over in India, Citi defended its turf, winning the best bank award for the second time consecutively as well as retaining its best foreign investment bank award that it has been winning for the 11th straight time, thanks to its long-held leadership position in the capital markets and M&A business in the country. The bank is also the winner of best equity house, having managed multiple marquee transactions during the review period across product categories and industries. It led the most number of block transactions and managed the largest QIP and the largest FPO since 2010.
Axis Bank regained the best domestic bank award in India after conceding it for the last two years, with its improved financial standings and prudent approach to expansion. The bank fared well despite a challenging operating environment, with its strategy of diversifying business mix, both on the liabilities as well as the assets side.
JM Financial made a strong showing this year, winning the Triple A award for best M&A house in India for the first time. The home-grown bank provided strong competition to the global banks that have traditionally dominated in M&A advisory space in that country, having advised in some of the high-profile and challenging transaction during the review period.
HSBC wins the best debt house in India for the first time in many years, with its wide range of debt funding options for the clients, across G3 and local currency bonds as well as syndicated loans. Its strong onshore and offshore execution and distribution capabilities led to number of benchmark and oversubscribed bond issues and widely distributed syndicated loan transactions during the review period.
Kotak Investment Banking continued its winning streak, securing The Triple A’s best domestic investment bank honour for the ninth year in a row, while Kotak Securities retained the best brokerage house.
ICICI Securities Primary Dealership thrived in difficult market conditions with its disciplined deal selection and superior distribution capabilities, winning best domestic bond house in India
In Pakistan, Credit Suisse emerged as the leader in investment banking space having managed three marquee transactions to win the best foreign investment bank for the first time in the country. The bank executed a landmark secondary placement for United Bank in June 2014 where it acted as sole international lead manager. It also made a key breakthrough by arranging international syndicated term financing facility for the government of Pakistan in March 2014.
MCB Bank is the double winner, bagging the best bank award -- for the first time ever -- as well as best domestic bank for the third consecutive year. Allied Bank is the best domestic investment bank, best equity house, best debt house and best domestic bond house
For the list of winners, please click here
