Citic Securities, Bank of China Big Winners of Investment Banking Awards

Leading brokerage Citic Securities and “big four” lender Bank of China were the big winners in an annual awards contest, whose sponsors included Caixin, recognizing achievement in the country’s nascent but important investment banking industry.

China’s field of investment banking service providers is relatively young, with just 30 years of history dating back to the nation’s early experimentation with financial markets and other Western-style financial products. Many of the biggest players have grown out of banks and securities brokers, which count themselves as some of the nation’s oldest financial service companies.

To better identify best practices and promote healthy competition, Caixin and Dealogic, a global financial data and services provider, selected recipients of 24 Caixin Capital Market Achievement Awards given to 13 financial institutions this year. Citic Securities Co. Ltd. and Bank of China Co. Ltd. took home five prizes each, making them this year’s two biggest winners.

Citic Securities, the brokerage arm of state-owned financial conglomerate Citic Group, took awards for best bookrunner for onshore debt, corporate debt and securitization, as well as best investment banking revenue. Awards garnered by Bank of China, China’s fourth-largest bank by assets, included best onshore debt bank and best bookrunner for international G3 debt, green bonds and financial debt capital.

A Bank of China branch in Beijing on Jan. 27, 2019. Photo: IC

China Securities Co. Ltd. won three awards, including for industrial investment banking, A-Share bookrunning and private placement. Other winners included Industrial and Commercial Bank of China (ICBC), China’s largest bank by assets, for best Panda bond bookrunner; China Development Bank for best enterprise debt capital market bookrunner; and China Construction Bank for best medium-term notes bookrunner.

Among foreign firms, Citibank, Standard Chartered and Goldman Sachs all picked up awards. Outside the realm of traditional financial service providers, internet giant Tencent made this year’s list as well by being named most active outbound acquirer.

The awards are now in their third year, with a presentation ceremony set for late March.

Contact reporter Leng Cheng (chengleng@caixin.com)