Global Finance names World's 50 safest banks 2010

PanARMENIAN.Net - With bank stability still high on corporate and investor agendas, Global Finance published its 19th annual list of the world’s safest banks. The sovereign debt crisis in Europe and renewed concerns about the global economic outlook are once again putting the spotlight on bank safety. It should be somewhat reassuring that 45 of the top-50 safest banks is this year’s listing maintained their standing among the top echelon in this year’s ranking. Banks that cleaned up their balance sheets and strengthened their capital positions were the biggest gainers. In many instances, non-performing loans have been reduced significantly. Several major British banks have rejoined the top 50, although many of the big name banks that lost their safest bank ranking during the credit crunch are still absent from the list. The “World’s 50 Safest Banks” 2010 were selected through a comparison of the long-term credit ratings and total assets of the 500 largest banks around the world. Ratings from Moody’s, Standard & Poor’s and Fitch were used.

Global Finance has published its “World’s Safest Banks” listing for 19 years and this ranking has become a recognized and trusted standard of creditworthiness for the entire financial world.

“Banks that have strengthened their liquidity positions and the quality and quantity of their capital are recognized in these rankings,” says Global Finance publisher Joseph D. Giarraputo. “More than ever, customers around the world are viewing long-term creditworthiness as the key feature of banks with which they do business.”

German KfW tops the Global Finance list, followed by the French Caisse des Depots et Consignations (CDC), Holland’s Bank Nederlandse Gemeenten, Swiss Zuercher Kantonalbank, German Landwirtschaftliche Rentenbank and Holland’s Rabobank Group. British HSBC was 19th in the list of the top-50 safest banks.