Best bank
Svenska Handelsbanken
Best debt house
Barclays Capital
Best equities house
Enskilda Securities
Best M&A house
Deutsche Bank
Best at cash management
SEB
Best at risk management
Deutsche Bank
Best at investor services
Nordea
Svenska Handelsbanken is one of the most profitable banks in the region and remains the best bank. Its profits after tax grew by 11% to SKr8.1 billion ($1.1 billion) in 2003. Handelsbanken Markets, its investment bank, doubled profits to SKr1,009 million.
Assets rose to SKr1,316 billion and loan losses were kept low. The bank had a higher return on equity than its peers, rising to 14.9%. With a cost/income ratio of 46.5%, Handelsbanken is the region?s most cost-effective bank. In March, Moody?s upgraded its long-term credit rating to Aa1 from Aa2.
Danske Bank and Nordea are the largest banking groups by assets, but Nordea still needs to cut costs and rationalize. Danske?s cost/income ratio has improved but it is higher than Handelsbanken?s at 55%. In April, Moody?s upgraded Danske?s long-term rating from Aa2 to Aa1.
Both SEB and Swedbank (FöreningsSparbanken) have strong operations in Sweden and a presence in all the Baltic markets.