We are delighted to share with you the 14 institutions and issuances recognised in The Covered Bond Report Awards for Excellence 2026, following their announcement at the Covered Bond Investor Conference in Frankfurt yesterday (Thursday).

Global Lead Manager of the Year: BMO Capital Markets

Euro Issuer of the Year: Caffil

Market Leadership: Royal Bank of Canada
€1.25bn 2.625% March 2029/€1bn 3% March 2033

Best Euro Distribution: LBBW

Pioneer: Bank Leumi
€750m 3.197% January 2031 inaugural Israeli covered bond

USD Deal of the Year: ANZ
$2.25bn 4.05% February 2031

Euro Syndicate of the Year: DZ BANK

In recognition of its long dated issuance: Deutsche Kreditbank

CEE Issuer of the Year: OTP Jelzálogbank

Euro Lead Manager of the Year: Erste Group

In recognition of its Icelandic reopening: Arion Bank
€300m 2.75% February 2031 and liability management

ESG Deal of the Year: Nordea
€1bn 2.875% April 2029 first covered bond in EU Green Bond format

Covered Bond House of the Year: Natixis

Issuer of the Year: Nationwide Building Society

Follow The Covered Bond Report on LinkedIn for photos of the winners from Frankfurt, and more!

You can find out more about our awards process here.

Photo: The CBR’s Neil Day with Natixis’s Alex Trulli and Elena Bortolotti; Credit: Mario Drescher