Some banking market instability seems to be moving from the West to certain countries in the East, and companies are keeping a close eye on the solidity and reliability of their counterparties worldwide.
|World’s 50 safest banks 2013|
|2||Bank Nederlandse Gemeenten||Netherlands|
|7||Caisse des Dépôts et Consignations||France|
|9||Banque et Caisse d’Epargne de l’Etat||Luxembourg|
|11||TD Bank Group||Canada|
|13||Oversea-Chinese Banking Corp||Singapore|
|14||United Overseas Bank||Singapore|
|15||Royal Bank of Canada||Canada|
|16||National Australia Bank||Australia|
|17||Commonwealth Bank of Australia||Australia|
|21||Bank of Nova Scotia||Canada|
|23||Hang Seng Bank||Hong Kong|
|24||Caisse centrale Desjardins||Canada|
|27||China Development Bank||China|
|28||Bank of Montreal||Canada|
|30||Agricultural Development Bank of China||China|
|31||BNY Mellon||United States|
|35||National Bank of Abu Dhabi||UAE|
|36||Korea Finance Corporation||South Korea|
|37||National Bank of Kuwait||Kuwait|
|41||U.S. Bancorp||United States|
|42||Industrial Bank of Korea||South Korea|
|43||Korea Development Bank||South Korea|
|44||Qatar National Bank||Qatar|
|45||Northern Trust||United States|
|46||Samba Financial Group||Saudi Arabia|
|47||Bank of Taiwan||Taiwan|
|48||Banco de Chile||Chile|
|50||Bank of Tokyo-Mitsubishi UFJ||Japan|
Canadian banks are once again the best performing in North America, with six banks in the top 50. But now US institutions are catching up, also boasting six banks in the top 50. Banks from Singapore are the strongest in Asia, as are those from Chile in Latin America. Once again the safest banks in Europe have explicit guarantees from AAA-rated governments. Development banks represent a large contingent of the Top 50.
The size threshold for banks is higher this year vs. 2012, with some strong local and global banks not qualifying for the list owing to their asset size, not their ratings.
Long-term ratings are still the most valuable tool for assessing a bank’s reliability, especially when used in a comparative way.
With the Top 20 banks unchanged as of an April 2013 update to the 2012 rankings, the Global Finance World’s 50 Safest Banks list shows that most of the top echelon of banks are truly worthy of the distinction of being named World’s Safest Bank.
'In Global Finance’s Safest Banks ranking, the number of emerging markets banks in the top 50 is slowly growing. The number of triple-A banks has not changed and it is pretty limited, as many countries have lost their top sovereign rating and no new ones have reached that level yet', says Global Finance publisher Joseph D. Giarraputo. 'This ranking offers companies an objective tool for evaluating the world’s banks—both globally and by region', Giarraputo notes. 'Those institutions that top our ranking of the Safest Banks continue to show strength in trying times'.
Global Finance’s annual ranking of World’s 50 Safest Banks has been a recognized and trusted standard of creditworthiness for the entire financial world for more than 20 years. Winners were selected through an evaluation of long-term credit ratings - from Moody’s, Standard & Poor’s and Fitch - and total assets of the 500 largest banks worldwide.
The full results of this exclusive survey will be published in the October issue of Global Finance. The banks ranked 1-10 will be presented awards at a special ceremony to be held during the Annual Meetings of the IMF and World Bank in Washington, DC in October.