Renaissance Capital has been declared this year’s “most innovative bank” in Central and Eastern Europe by The Banker, a Financial Times group monthly and a leading source of global financial information.
RenCap’s rivals on the award shortlist were VTB Capital and Troika Dialog, which has been renamed Sberbank CIB with the exception of its asset management business, which for a while will be called Troika Dialog AM.
“Renaissance Capital was the only bank to manage both of Russia’s two successful IPOs of 2012, while lead managing six out of nine Russian IPOs from the beginning of 2011 to June 2012,” The Banker says.
“Its equity capital markets franchise also extends to leading Russian equity research, as well as a sales team consisting of 43 employees focused on Russia, and 65 dedicated to the emerging markets – more than any other bank.”
“Moreover, it holds the number one position in mergers and acquisitions league tables for the CEE Region, closing 29 deals from 2011 to June 2012, versus the nearest rival’s 23,” the magazine said.
“Size does not always go hand in hand with innovation, but Renaissance Capital has always managed to strike a neat balance. The Russian bank boasts numerous industry and regional firsts – from being the first Commonwealth of Independent States investment bank to gain London Stock Exchange membership, to launching the first foreign IPO on the Istanbul Stock Exchange, to taking Russian firms to the New York Stock Exchange and Hong Kong – all the while maintaining a leading regional position.
“In tough times, it takes innovation just to get business done, and when it comes to Central and Eastern Europe (CEE), Renaissance Capital has done that better than any other investment bank in the region over the past 12 months.
“Conditions have been far from easy in Renaissance Capital’s home market of Russia, with numerous IPOs pulled due to less-than-buoyant market conditions. Nevertheless, the bank maintained a 100% success rate in all of its Russian IPOs from 2011 to June 2012, managing eight successful deals with no pulled or withdrawn IPOs. The next best ratio was five successful to one pulled.”
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