Poland

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Poland’s third-largest bank, BPH, takes the award for best bank in Poland thanks to its strong growth. The first quarter of 2006 was another record breaker for the bank, bringing it an all-time high first-quarter net profit of Zl284.58 million (€70 million). The bank has also posted dynamic growth in loans of 26% by volume in the past year.

On the debt markets, sovereign business still provides banks with the bulk of their activities in Poland. JPMorgan wins the best debt house award for its participation in two of the sovereign’s largest issues of the 12-month period. One was a dual tranche global benchmark $1 billion 10-year and $100 million 30-year issue in October; the other was a euro benchmark in January following the change in government just one month earlier.

HSBC wins the best equity house award, having arranged the IPO for oil and gas concern PGNiG, bringing to an end years of procrastination over the company’s future.