GLOBAL FINANCE
names theWorld’s 50 Safest Banks 2012
NEW YORK, August 16, 2012
Bank stability remains a pressing concern for the worlds corporations and investors. It is within this context that
Global Finance
announces its
21st Annual Ranking of the World’s 50 Safest Banks
.
Europes sovereign debt crisis and slowing growth are having a significant impact on bank ratings. Global instability is also in the spotlight. Companies are watching closely to see how these eventsare affecting their counterparties.
Canadian banks are the best performing in North America with seven banks in the top 50 compared to five from United States. Banks from Singapore are the strongest in Asia and fromChile in Latin America. Credit ratings and rankings of most European banks have suffered except for those at the very top of the list which have explicit guarantees from AAA rated governments.
With the Top 10 banks unchanged as of an April 2012 update to last years rankings, the
Global Finance
list shows that most of the top echelon of banks are truly worthy of the distinction of being named
World’s Safest Bank
. Winners were selected through an evaluation of long-term credit ratingsfrom Moodys, Standard & Poors and Fitchand total assets of the 500 largest banks worldwide.
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. Counterparty creditworthiness is a critical issue for companies and investors worldwide, says
Global Finance
publisher Joseph D. Giarraputo. More than ever, companies around the world are reevaluating the long-term credit strength of their banks, and partnering with only those banks that have proven strength and stability.
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 Tokyo in October.
For editorial information please contact: Andrea Fiano, Editor, email:
afiano@gfmag.com
Ratings current as of July 30, 2012 / PR date:
Global Finance
magazine August 16, 2012
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PR date:
Global Finance
Magazine August 16, 2012 / Ratings current as of: July 30, 2012
