How different the world looks in just 12 months. The National Champions of the European Capital Markets 2008 report was published just days before the collapse of Lehman Brothers – the event that became the defining moment of the financial crisis that had started with the credit crunch one year earlier. It is hard to identify an event more seismic for banking – in Europe and globally. Lehman’s collapse changed everything in banking, bringing the world closer to complete financial disintegration

The last year has seen the disappearance of one major player in German banking, as Commerzbank finalised the acquisition of Dresdner Bank from insurance giant Allianz. But in spite of its domestic significance – and the loss of a venerable investment banking brand in Dresdner Kleinwort – the deal has not substantially changed the competitive landscape in the country’s banking sector. Although rivals argue that it is scarcely a German bank any more in terms of the distribution of its activities,

BBVA has emerged from the financial crisis with a solid profile and a continued willingness to support its clients through lending. The Spanish bank’s debt capital markets division delivers integrated global funding to corporate clients, including both loan markets and fixed income, incorporated and co-ordinated under the head of debt capital markets, Anselmo Andrade. The bank’s high rating of Aa2, AA and AA- by Moody’s, Standard & Poor’s and Fitch respectively, underpin the strengths of the loa

In the aftermath of the collapse of Lehman Brothers, the point at which the credit crunch threatened to turn into a complete financial collapse, the UK's banks looked like they would lead the march into oblivion. The Royal Bank of Scotland, which suffered the biggest losses in the subsequent market carnage, was especially vulnerable: its ill-timed acquisition of ABN Amro had weakened its capital base, triggering a rescue rights issue and a bailout by the UK government. Meanwhile HBOS, which reli

Home is where the heart is – at least as far as Benelux banks are concerned. Visibly shaken by the earth-moving events of the credit crunch, many banks in the region are redoubling their efforts to strengthen in their domestic markets. “We will be building market share by allocating resources in terms of equity, capital markets and advisory services for core clients in Holland and Belgium,” said Bill Connelly, global head, wholesale banking clients. at ING in Amsterdam. “In terms of both domesti

BNP Paribas and Socgen have emerged as the strongmen of the French financial scene. Both have promising outlooks, having gained market share and started the process of expanding their businesses, to maintain global ambitions. They also happen to be the country's leading investment banks. Domestic rivals Calyon and Natexis have not come out so well. They invested in complex toxic mortgage assets and are now having to work through those problems before they can consider going back on the offensive

On the face of it, you couldn’t find two more different stories than those of the big Swiss banks: at the end of July, Credit Suisse reported healthy second quarter profits of SFr1.6bn (€1.05bn) while UBS contrived to lose roughly the same amount; Credit Suisse has suffered only three losing quarters since the start of the crisis, while UBS has managed a single profitable one; Credit Suisse has had its reputation enhanced over the last couple of years, while its compatriot has become a poster ch

The combination of UniCredit Group’s corporate and investment banking divisions is widely seen as a natural evolution from the initial establishment of the investment bank in 2006. The move, completed in April this year, helped streamline the bank’s operations and generate cost and revenue synergies. In addition, the merger also accelerated the decision-making process on key business issues and further enhanced UniCredit’s capabilities to service its clients. “By bringing the two units together

Less reliance on foreign funding and strong support from the central government are helping Russian banks claw their way out of the global credit crisis quicker than their neighbours in Eastern Europe or the Commonwealth of Independent States. “We have nearly reached the bottom in Russia,” said Dmitry Dmitriev, head of research covering financial institutions at VTB Capital in Moscow. “There will be two or three more bad quarters in terms of banks' results and then, after that, the recovery will