Best bank - National Australia Bank
Best equity house - UBS
Best debt house - Barclays Capital
Best M&A house - Deutsche Bank
Australia's housing boom has lasted longer than expected, boosting banks' results. But many analysts are still critical of the banks' overall performance. It is, as one points out, difficult to find one without a blemish. ANZ had problems with credit cards, Westpac's acquisition of BT has caused concerns, and Commonwealth Bank of Australia has allowed its market share to drift. With this criticism in mind, the award for best bank goes to National Australia Bank. The bulk of its business, Financial Services Australia, continues to perform strongly. In the past year the bank's underlying profitability increased by 13.2%. In addition, housing lending has grown by 21.9%. NAB also managed to increase its market share to 17.8%. Its operations in New Zealand also proved robust, with underlying profits up 32.1%.
NAB is still viewed as the bank for the small and medium-size enterprises. Other banks are attempting to take market share in this area but will find it tough to depose NAB. In corporate business, especially debt, NAB continues to lead the way.