The prominent banking journal, Euromoney,
selects Bank Tejarat as Iranís best bank in 2003. Bank Tejarat specializes in
trade finance and corporate business. In terms of assets, it is Iranís
fourth-largest bank. It may not be as large as Bank Melli, Iranís largest
bank, but it has a far learner and more efficient structure, when assessed by
its return on equity, return on assets, or its cost to income ratio.
The main banks in Iran are highly
specialized. Bank Tejaratís focus on trade and business ensures that it plays
a prominent role in many of the biggest deals in the country. Bank Tejarat was
the most active of Iranís domestic banks in the key syndicated loan deals over
the past year.
While welcoming the announcement, Amir
Mohammad Davoud, Bank Tejaratís Manager of International Affairs stated that
presence in the countryís large and important contracting projects, return on
equity and assets, cost to income ratio and specialization in international
banking were all factors that contributed to the selection of Bank Tejarat as
Iranís best bank. This recognition and fame will boost the quality of our
services in Iran and abroad, which will be inline with achieving higher
The journal also points to BNP Paribas
as the best investment company and selects HSBC as the best bank in the world.
BNP Paribas wins the award for best debt house in Iran for its involvement in
nearly half of all the project finance deals in the country. Deutsche Bank
also acted as mandated arranger on four of the biggest deals, the same number
as BNP Paribas, but the French bankís involvement in a further two shows the
strength of its franchise in Iran. In 2002, BNP Paribas was joint book runner
with Commerzbank on the Iranís debut Eurobond and although there is no award
for best M&A House (merger and acquisition) in Iran this year, the fact BNP
Paribas is the adviser to the government on its telecoms privatization program
again shows the depth of the bankís relationship with the government, the
biggest player in the economy.