Singapore banks “three safest in Asia”: Global Finance magazine
Global Finance magazine has published its ‘World’s 50 Safest Banks’ rankings for 2010, and Singapore is home to the top three in Asia: DBS (#23), OCBC (#31) and UOB (#32). Global Finance has run the list for 19 years based on “comparisons of long-term credit ratings and total assets of the 500 largest banks around the world”. The magazine said the list shows customers are looking toward long-term credit worthiness as a the key feature in deciding which banks to do business with, and banks that “cleaned up their balance sheets and strengthened their capital positions” were the biggest gainers.
45 of the top 50 appeared in last year’s list, and several British banks have rejoined the group. The only other Asian bank on the list was Japan’s Shizuoka Bank at #50, while in the slightly wider region were the National Bank of Kuwait (#38) and Australia’s ‘big four’: National Australia Bank (#11), Westpac (#12), Commonwealth (#13) and ANZ (#16).
source & article: Global Finance magazine
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