Best bank - ICICI Bank
Best equity house - Kotak Investment Banking
Best debt house - Standard Chartered
Best M&A house - JM Morgan Stanley
ICICI Bank is the analysts' favourite in India. The second-largest bank by assets has, they say, done a fantastic job establishing itself as one of the industry's key players. Although many also point out that HDFC Bank is a strong contender for the best bank in India award, it still really maintains itself as a small niche player in housing loans.
Over the past two years, ICICI has aggressively changed and restructured its funding and asset base. It now dominates retail business, having over the past year tripled its retail loans with a concerted push into the mortgage market. Retail loans now make up 30% of the bank's total loans. However, distressed assets have not crept in and the bank has continued to reduce its net non-performing loans to around 5%.
Joint venture Kotak Investment Banking, set up between Goldman Sachs and Kotak Mahindra Bank, has been a great success for both participants and takes the best equity house award. It claimed a 99% market share as bookrunner in public equity offerings, has the largest market share in equity broking and structuring, and holds the top position in procurement in public equity offerings.