January 17, 2014 / 12:36 PM / in 4 years

Asian banks top project finance deals in 2013

LONDON, Jan 17 (Reuters) - Japanese and other Asian banks cemented their positions as the lead arrangers for project-financing deals last year while several big European banks continued to retreat from the business as they shrink their balance sheets.

There were $204 billion of project finance deals globally last year, up 0.8 percent from 2012, and the top six arrangers were from Japan, India, China and Korea, according to Thomson Reuters data.

Mitsubishi UFJ ranked first, the same as 2012, after arranging deals worth $11.5 billion for a 5.7 percent market share, Thomson Reuters estimated.

State Bank of India was second with a 4.9 percent market share, followed by China Development Bank, which jumped from 47th place in 2012 and grabbed a 4.1 percent market share.

France’s Credit Agricole was the highest ranking European bank in seventh spot with a 2.5 percent share, just ahead of HSBC and Barclays.

BNP Paribas and Societe Generale previously ranked among the top firms in project finance but they have reduced activity since 2011 as they came under pressure to shrink their balance sheets.

SocGen ranked 16th last year, down from eighth in 2012, and BNP Paribas slipped to 17th from ninth.

Power projects accounted for $70.1 billion of last year’s business, or more than one-third of the total. Oil & gas deals and transportation each accounted for a fifth of volume.

Europe, Middle East and Africa was the most active region, with $90 billion of deals, up by a quarter from 2012, Thomson Reuters said. Americas deal proceeds rose 21 percent to $51 billion, but Asia volume fell 29 percent to $63 billion.

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