| Indonesia: still searching for economic, political and social stability |
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Best bank:
Bank Central Asia
Best equity house:
Bahana Securities
Best debt:
Danareksa Securities
Best M&A house:
CSFB
Indonesia's banking sector is the slowest in the region to recover from the Asian crisis of 1998. The government has apparently wrapped up its recapitalization of the banks and is now attempting to get them back up on their feet. But there are fears that President Abdurahman Wahid's administration may have to provide a second wave of recapitalization on top of the $60 billion it handed out first time around.
If the banking sector is ever going to improve it will have to move away from the present model of merely holding government paper and deposits that are guaranteed by a weary administration.