Best bank - Royal Bank of Scotland
Best debt house - Barclays Capital
Best equity house - UBS
Best M&A house - UBS
Best local partner - Rothschild
There is little contest for the prize of best bank in the UK. Royal Bank of Scotland takes this award. With the acquisition of NatWest now over three years old, RBS is resolutely the market leader in corporate banking, with number one positions in SME business, lending, deposits, payments systems, foreign exchange and asset finance. Corporate banking and financial markets, which comprises 39% of group pre-tax profits, services mid-sized and large UK companies. Its lending business is phenomenally successful Europe-wide. Among the UK firms RBS has raised money for this year are Network Rail, which acquired the bankrupt Railtrack, Rolls-Royce, Scottish & Newcastle and Cadbury Schweppes. It has also recently won the mandate to provide acquisition financing worth $2.1 billion to Smith & Nephew for its purchase of Centerpulse.
Barclays Capital is still unbeatable in the UK debt markets. And this goes far beyond its position in the sterling market - which it has dominated for over five years. Granted, that is where the bank is still strongest but it is just as adept at raising money for UK corporates and financial institutions in the euro and dollar markets.