Best bank - Kookmin Bank
Best equity house - Goldman Sachs
Best debt house - Barclays Capital
Best M&A house - CSFB
Over the past year Korea's consumer credit boom has collapsed. Although Kookmin Bank has had serious problems with loans, analysts believe it is big enough to look after itself. On the strength of this it takes the best bank in Korea award. Its integration with Housing & Commercial Bank is now complete, making it the best positioned of all. Its rivals still have work to do. Hana Bank is distracted by its merger with Seoul Bank and Shinhan Bank is looking towards a merger with Chohung Bank. As one analyst says of the situation: "Kookmin in the most powerful bank in Korea. It's externally focused rather than internally and its franchise, size and cost of funding is a clear source of advantage. And that advantage is a very powerful weapon."
While many may point out that Kookmin's exposure to the retail market leaves it vulnerable to further economic deterioration, this is more than offset by its smaller exposure to the weak industrial conglomerates that still dog its competitors.
Goldman Sachs, which wins the best equity house award, is pulling in the business and winning mandates that a couple of years ago it was having trouble getting.