Best bank - Bank of Tokyo-Mitsubishi
Best equity house - Nomura Securities
Best debt house - Nomura
Best M&A house - Morgan Stanley
Japan's banks are still having a dreadful time. Despite government reform promises and plans to restructure the financial sector, nothing much is happening to improve their condition. Bank of Tokyo-Mitsubishi is, however, healthier than the rest and takes the best bank in Japan award. It is attempting to clean itself up and dispose of the non-performing loans that blight so many of its peers. Its balance sheet is getting stronger as it has reduced NPLs from 4.45% to 4.23% of total loans. It was also more profitable in its last financial year compared with 2001, reporting a profit of ¥950 billion ($8 billion) compared with ¥867 billion.
In the wholesale lending business the bank increased its loan book by about ¥1.2 trillion. BTM's treasury business is viewed as extremely strong, winning Euromoney's Tokyo forex poll and being named the best foreign exchange house in Japan. On the retail side BTM increased deposits by 17% and mortgage loans grew 10% on the previous year.
Nomura Securities is the leading equity house in Japan, having raised ¥1 trillion in capital in 88 deals.