World’s Safest Banks 2023—Global Top 100

The debacles of 2023 clearly illustrated that a bank’s financial stability must never be taken for granted.


Overall performance of eurozone banks has been solid this year as generally well-capitalized institutions have reported sustained profitability. With the IMF forecasting GDP growth of only 0.9% for 2023 and 1.5% next year for the region, many institutions are aggressively boosting loan-loss reserves. Western Europe’s strength is reflected in our global rankings, the region claiming nine of the top 10 spots and 42 entries in the top 100 overall. France leads the region with nine.  

Notable shifts include UBS falling 11 places to No. 48 following its takeover of Credit Suisse. Caisse des Depots et Consignations fell one place thanks to a Fitch downgrade while Deutsche Apotheker- und Aerztebank fell 17 spots to No. 52 thanks to Moody withdrawing its ratings. Others enjoyed happier ratings results. SFIL benefitted from a Moody’s upgrade, raising it six places from its rank last year.  

The Asia-Pacific region is well-represented with 26 names among the World’s 100 Safest Banks. Singapore leads with three big banks—DBS, Oversea-Chinese Banking Corp. and United Overseas Bank. Australasia placed six with Kiwibank benefitting from a Fitch upgrade rising to No. 44.  

In North America, Canada tops the region with RBC at No. 10, and a total of seven banks among the 100 safest. In the United States, the Federal Farm Credit banks fell up to eight places each following Fitch’s August downgrade of the US sovereign rating. Still, they remain the highest-ranking institutions in the US, which has 10 banks on the list, the most of any one country.  

Institutions in the bottom half of the top 100 show increased regional representation.  These banks upped the tally for the Asia-Pacific region adding 18 banks, largely from China and South Korea, for an overall total of 26 institutions in the top 100, and reflects four additional UAE domiciled banks for a total of five overall.

It also includes banks in new regions notably in Central and Eastern Europe with Komercni Banka of the Czech Republic and ING Bank Slaski in Poland, and in Latin America with Scotiabank Chile.

Methodology: Behind the Rankings

Global Finance ranks the world’s largest 500 banks by asset size, calculated based on long-term foreign currency ratings issued by Fitch Ratings, Standard & Poor’s and Moody’s Investors Service. Where possible, ratings on holding companies rather than operating companies are used, and banks that are wholly owned by other banks are omitted. Within each rank set, banks are organized according to asset size based on data for the most recent annual reporting period provided by Fitch Solutions and Moody’s.

Ratings are reproduced with permission from the three rating agencies, with all rights reserved. A ranking is not a recommendation to purchase, sell or hold a security, and it does not comment on market price or suitability for a particular investor. All ratings in the tables were valid as of August 18, 2023.

Global Top 100
Rank Name Domicile Fitch Rating Fitch Score Moody’s Rating Moody’s Score S&P Rating S&P Score Total Score Total Assets
(USD million)
Report Date
1 KfW GERMANY AAA 10 Aaa 10 AAA 10 30 591,565.97 12/31/22
2 Zuercher Kantonalbank SWITZERLAND AAA 10 Aaa 10 AAA 10 30 214,759.75 12/31/22
3 BNG Bank NETHERLANDS AAA 10 Aaa 10 AAA 10 30 135,520.06 12/31/22
4 Landwirtschaftliche Rentenbank GERMANY AAA 10 Aaa 10 AAA 10 30 103,749.31 12/31/22
5 L-Bank GERMANY AAA 10 Aaa 10 AA+ 9 29  99,421.48 12/31/22
6 Nederlandse Waterschapsbank NETHERLANDS NR 9 Aaa 10 AAA 10 29  89,068.91 12/31/22
7 Kommunalbanken NORWAY NR 9 Aaa 10 AAA 10 29  46,080.60 12/31/22
8 NRW.BANK GERMANY AAA 10 Aa1 9 AA 8 27 168,359.64 12/31/22
9 Swedish Export Credit Corporation SWEDEN NR 8 Aa1 9 AA+ 9 26  34,166.71 12/31/22
10 Royal Bank of Canada CANADA AA- 7 Aa1 9 AA- 7 23 1,359,411.00 1/31/23
11 Caisse des Depots et Consignations FRANCE AA- 7 Aa2 8 AA 8 23 1,117,393.00 12/31/22
12 DBS Bank SINGAPORE AA- 7 Aa1 9 AA- 7 23  552,854.38 12/31/22
13 Oversea-Chinese Banking Corp SINGAPORE AA- 7 Aa1 9 AA- 7 23  417,503.73 12/31/22
14 United Overseas Bank SINGAPORE AA- 7 Aa1 9 AA- 7 23  375,026.03 12/31/22
15 Svenska Handelsbanken SWEDEN AA 8 Aa2 8 AA- 7 23  331,218.63 12/31/22
16 Korea Development Bank SOUTH KOREA AA- 7 Aa2 8 AA 8 23  277,505.76 12/31/22
17 Export-Import Bank of Korea SOUTH KOREA AA- 7 Aa2 8 AA 8 23  96,523.71 12/31/22
18 SFIL FRANCE NR 7 Aa2 8 AA 8 23  68,478.77 12/31/22
19 Banque Cantonale Vaudoise SWITZERLAND NR 7 Aa2 8 AA 8 23  64,203.00 12/31/22
20 Banque et Caisse d’Epargne de l’Etat LUXEMBOURG NR 7 Aa3 7 AA+ 9 23  61,261.00 12/31/22
21 Toronto-Dominion Bank CANADA AA- 7 Aa2 8 AA- 7 22 1,382,500.84 1/31/23
22 Industrial Bank of Korea SOUTH KOREA AA- 7 Aa2 8 AA- 7 22  338,515.56 12/31/22
23 DNB Bank NORWAY NR 6.5 Aa2 8 AA- 7 21.5  290,199.27 9/30/22
24 Bank of Taiwan TAIWAN NR 6.5 Aa3 7 AA 8 21.5  201,017.82 12/31/22
25 Banque Pictet & Cie SWITZERLAND AA- 7 Aa2 8 NR 6.5 21.5  48,513.00 12/31/22
26 Bank of Nova Scotia CANADA AA- 7 Aa2 8 A+ 6 21  992,680.33 1/31/23
27 Bank of Montreal CANADA AA- 7 Aa2 8 A+ 6 21  829,719.22 1/31/23
28 Canadian Imperial Bank of Commerce CANADA AA- 7 Aa2 8 A+ 6 21  666,428.44 1/31/23
29 DZ BANK GERMANY AA- 7 Aa2 8 A+ 6 21  665,986.42 12/31/22
30 Nordea Bank FINLAND AA- 7 Aa3 7 AA- 7 21  634,460.34 12/31/22
31 First Abu Dhabi Bank UAE AA- 7 Aa3 7 AA- 7 21  302,249.36 12/31/22
32 Hang Seng Bank HONG KONG AA- 7 Aa3 7 AA- 7 21  242,546.75 12/31/22
33 Federation des Caisses Desjardins du Quebec CANADA AA- 7 Aa2 8 A+ 6 21 147,768.45 12/31/20
34 Sparkassen-Finanzgruppe GERMANY A+ 6 Aa2 8 NR 6 20 1,755,652.50 12/31/21
35 Commonwealth Bank of Australia AUSTRALIA A+ 6 Aa3 7 AA- 7 20  817,006.50 12/31/22
36 ANZ Group AUSTRALIA A+ 6 Aa3 7 AA- 7 20  744,502.00 3/31/23
37 National Australia Bank AUSTRALIA A+ 6 Aa3 7 AA- 7 20  702,098.00 3/31/23
38 Westpac AUSTRALIA A+ 6 Aa3 7 AA- 7 20  682,555.00 3/31/23
39 Rabobank NETHERLANDS A+ 6 Aa2 8 A+ 6 20  670,371.68 12/31/22
40 SEB SWEDEN AA- 7 Aa3 7 A+ 6 20  339,057.54 12/31/22
41 Swedbank SWEDEN AA- 7 Aa3 7 A+ 6 20  273,788.61 12/31/22
42 AgriBank UNITED STATES A+ 6 Aa3 7 AA- 7 20  156,463.00 12/31/22
43 OP Corporate Bank FINLAND NR 6 Aa3 7 AA- 7 20  100,532.56 12/31/22
44 Kiwibank NEW ZEALAND AA 8 A1 6 NR 6 20 21,103.63 12/31/22
45 Agence France Locale FRANCE NR 6 Aa3 7 AA- 7 20  8,550.57 12/31/22
46 BNP Paribas FRANCE A+ 6 Aa3 7 A+ 6 19 2,843,955.42 12/31/22
47 Credit Agricole FRANCE A+ 6 Aa3 7 A+ 6 19 2,537,568.30 12/31/22
48 UBS SWITZERLAND A+ 6 Aa3 7 A+ 6 19 1,105,436.00 12/31/22
49 Banque Federative du Credit Mutuel FRANCE A+ 6 Aa3 7 A+ 6 19  735,487.58 12/31/22
50 HSBC Continental Europe FRANCE AA- 7 A1 6 A+ 6 19  298,310.83 12/31/22
51 CoBank UNITED STATES A+ 6 NR 5.5 AA- 7 18.5 188,843 12/31/22
52 Deutsche Apotheker- und Aerztebank GERMANY AA- 7 NR 5.5 A+ 6 18.5 57,793 12/31/22
53 LGT Bank LIECHTENSTEIN NR 5.5 Aa3 7 A+ 6 18.5 53,602 12/31/22
54 AgFirst UNITED STATES A+ 6 Aa3 7 NR 5.5 18.5 42,073 12/31/22
55 Farm Credit Bank of Texas UNITED STATES A+ 6 Aa3 7 NR 5.5 18.5 35,990 12/31/22
56 China Development Bank CHINA A+ 6 A1 6 A+ 6 18 2,611,377 12/31/22
57 Agricultural Development Bank of China CHINA A+ 6 A1 6 A+ 6 18 1,300,658 12/31/22
58 Export-Import Bank of China CHINA A+ 6 A1 6 A+ 6 18 849,845 12/31/22
59 Bank of China (Hong Kong) HONG KONG A 5 Aa3 7 A+ 6 18 447,121 12/31/22
60 Bank of New York Mellon UNITED STATES AA- 7 A1 6 A 5 18 405,783 12/31/22
61 Kookmin Bank SOUTH KOREA A 5 Aa3 7 A+ 6 18 404,429 12/31/22
62 Shinhan Bank SOUTH KOREA A 5 Aa3 7 A+ 6 18 389,072 12/31/22
63 Hana Bank SOUTH KOREA A 5 Aa3 7 A+ 6 18 380,306 12/31/22
64 Qatar National Bank QATAR A 5 Aa3 7 A+ 6 18 326,552 12/31/22
65 National Bank of Canada CANADA A+ 6 Aa3 7 A 5 18 301,780 1/31/23
66 State Street UNITED STATES AA- 7 A1 6 A 5 18 301,450 12/31/22
67 Northern Trust UNITED STATES AA- 7 A2 5 A+ 6 18 155,037 12/31/22
68 JPMorgan Chase & Co. UNITED STATES AA- 7 A1 6 A- 4 17 3,665,743 12/31/22
69 Bank of America Corporation UNITED STATES AA- 7 A1 6 A- 4 17 3,051,375 12/31/22
70 BPCE FRANCE A+ 6 A1 6 A 5 17 1,633,107 12/31/22
71 BNP Paribas Fortis BELGIUM A+ 6 A2 5 A+ 6 17 373,728 12/31/22
72 Woori Bank SOUTH KOREA A 5 A1 6 A+ 6 17 347,419 12/31/22
73 Erste Group Bank AUSTRIA A 5 A1 6 A+ 6 17 345,434 12/31/22
74 Nationwide Building Society UNITED KINGDOM A 5 A1 6 A+ 6 17 339,989 4/4/23
75 NongHyup Bank SOUTH KOREA A 5 A1 6 A+ 6 17 303,791 12/31/22
76 Nykredit Realkredit DENMARK A 5 A1 6 A+ 6 17 228,786 12/31/22
77 Abu Dhabi Commercial Bank UNITED ARAB EMIRATES A+ 6 A1 6 A 5 17 135,554 12/31/22
78 Mega International Commercial Bank TAIWAN NR 5 A1 6 A+ 6 17 120,661 12/31/22
79 National Bank of Kuwait KUWAIT A+ 6 A1 6 A 5 17 118,733 12/31/22
80 Land Bank of Taiwan TAIWAN NR 5 Aa3 7 A 5 17 110,924 12/31/22
81 BGL BNP Paribas LUXEMBOURG A+ 6 A2 5 A+ 6 17 65,980 12/31/22
82 SBAB Bank SWEDEN NR 5 A1 6 A+ 6 17 54,298 12/31/22
83 Suncorp-Metway AUSTRALIA A 5 A1 6 A+ 6 17 54,129 12/31/22
84 AXA Banque FRANCE A+ 6 NR 5 A+ 6 17 16,983 12/31/22
85 SpareBank 1 Nord-Norge NORWAY A 5 Aa3 7 NR 5 17 14,819 12/31/22
86 Industrial and Commercial Bank of China CHINA A 5 A1 6 A 5 16 5,669,862 12/31/22
87 China Construction Bank CHINA A 5 A1 6 A 5 16 4,953,037 12/31/22
88 Agricultural Bank of China CHINA A 5 A1 6 A 5 16 4,880,466 12/31/22
89 Bank of China CHINA A 5 A1 6 A 5 16 4,161,910 12/31/22
90 Morgan Stanley UNITED STATES A+ 6 A1 6 A- 4 16 1,180,231 12/31/22
91 ABN AMRO NETHERLANDS A 5 A1 6 A 5 16 440,659 12/31/22
92 Komercni Banka CZECH REPUBLIC A 5 A1 6 A 5 16 57,661 12/31/22
93 Norinchukin JAPAN NR 4.5 A1 6 A 5 15.5 749,024 12/31/22
94 Emirates NBD Bank UNITED ARAB EMIRATES A+ 6 A2 5 NR 4.5 15.5 202,023 12/31/22
95 First Commercial Bank TAIWAN NR 4.5 A1 6 A 5 15.5 131,398 12/31/22
96 Cathay United Bank TAIWAN NR 4.5 A1 6 A 5 15.5 123,714 12/31/22
97 Jyske Bank DENMARK NR 4.5 A2 5 A+ 6 15.5 102,942 12/31/22
98 Scotiabank Chile CHILE A+ 6 NR 4.5 A 5 15.5 53,587 12/31/22
99 ING Bank Slaski POLAND A+ 6 A2 5 NR 4.5 15.5 49,358 12/31/22
100 Abu Dhabi Islamic Bank UNITED ARAB EMIRATES A+ 6 A2 5 NR 4.5 15.5 45,884 12/31/22

WORLD’S SAFEST BANKS 2023—TOP 10 BY REGION

North America
Rank Name Domicile Fitch Rating Fitch Score Moody’s Rating Moody’s Score S&P Rating S&P Score Total Score Total Assets
(USD million)
Report Date
1 Royal Bank of Canada   Canada AA- 7 Aa1 9 AA- 7 23 1,445,641 4/30/22
2 Toronto-Dominion Bank   Canada AA- 7 Aa2 8 AA- 7 22 1,427,441 4/30/22
3 Bank of Nova Scotia   Canada AA- 7 Aa2 8 A+ 6 21 1,007,647 4/30/22
4 Bank of Montreal   Canada AA- 7 Aa2 8 A+ 6 21  814,536 4/30/22
5 Canadian Imperial Bank of Commerce   Canada AA- 7 Aa2 8 A+ 6 21  699,251 4/30/22
6 Federation des Caisses Desjardins du Quebec Canada AA- 7 Aa2 8 A+ 6 21  151,736 12/31/20
7 AgriBank  United States AA- 7 Aa3 7 AA- 7 21  142,417 12/31/21
8 CoBank  United States AA- 7 NR 6 AA- 7 20  170,306 12/31/21
9 AgFirst   United States AA- 7 Aa3 7 NR 6 20  39,275 12/31/21
10 Farm Credit Bank of Texa s   United States AA- 7 Aa3 7 NR 6 20  33,093 12/31/21
Latin America
Rank Name Domicile Fitch Rating Fitch Score Moody’s Rating Moody’s Score S&P Rating S&P Score Total Score Total Assets
(USD million)
Report Date
1 Scotiabank Chile Chile A+ 6 NR 4.5 A 5 15.5  53,587 12/31/22
2 Banco del Estado de Chile Chile NR 4 A2 5 A 5 14  67,012 12/31/22
3 Banco de Chile Chile NR 4 A2 5 A 5 14  64,858 12/31/22
4 Banco de Credito e Inversiones Chile A- 4 A2 5 A- 4 13  91,612 12/31/22
5 Banco Santander-Chile Chile NR 3.5 A2 5 A- 4 12.5  80,010 12/31/22
6 Banco Itau Chile Chile NR 2.5 A3 4 BBB+ 3 9.5  47,543 12/31/22
7 Banco Santander Mexico Mexico BBB+ 3 Baa1 3 NR 2 8  94,635 12/31/22
8 Scotiabank Perú Peru BBB+ 3 Baa1 3 BBB 2 8  19,834 12/31/22
9 Banco BICE Chile BBB+ 3 NR 2 BBB+ 3 8  12,295 12/31/22
10 Banco de Credito del Peru Peru BBB 2 Baa1 3 BBB 2 7  50,106 12/31/22
Western Europe
Rank Name Domicile Fitch Rating Fitch Score Moody’s Rating Moody’s Score S&P Rating S&P Score Total Score Total Assets
(USD million)
Report Date
1 KfW Germany AAA 10 Aaa 10 AAA 10 30  591,566 12/31/22
2 Zuercher Kantonalbank Switzerland AAA 10 Aaa 10 AAA 10 30  214,760 12/31/22
3 BNG Bank Netherlands AAA 10 Aaa 10 AAA 10 30  135,520 12/31/22
4 Landwirtschaftliche Rentenbank Germany AAA 10 Aaa 10 AAA 10 30  103,749 12/31/22
5 L-Bank Germany AAA 10 Aaa 10 AA+ 9 29  99,421 12/31/22
6 Nederlandse Waterschapsbank Netherlands NR 9 Aaa 10 AAA 10 29  89,069 12/31/22
7 Kommunalbanken Norway NR 9 Aaa 10 AAA 10 29  46,081 12/31/22
8 NRW.BANK Germany AAA 10 Aa1 9 AA 8 27  168,360 12/31/22
9 Swedish Export Credit Corporation Sweden NR 8 Aa1 9 AA+ 9 26  34,167 12/31/22
10 Caisse des Depots et Consignations France AA- 7 Aa2 8 AA 8 23 1,117,393 12/31/22
Central and Eastern Europe
Rank Name Domicile Fitch Rating Fitch Score Moody’s Rating Moody’s Score S&P Rating S&P Score Total Score Total Assets
(USD million)
Report Date
1 Komercni Banka Czech Republic A 5 A1 6 A 5 16  57,661 12/31/22
2 ING Bank Slaski Poland A+ 6 A2 5 NR 4.5 15.5  49,358 12/31/22
3 Santander Bank Polska Poland BBB+ 3 A2 5 NR 3 11  58,878 12/31/22
4 Bank Pekao Poland BBB 2 A2 5 BBB+ 3 10  63,869 12/31/22
5 Nova Ljubljanska banka Slovenia NR 2 A3 4 BBB 2 8  25,718 12/31/22
6 Banca Comerciala Romana Romania BBB+ 3 Baa1 3 NR 2 8  21,329 12/31/22
7 BRD – Groupe Societe Generale Romania BBB+ 3 Baa1 3 NR 2 8  15,933 12/31/22
8 mBank Poland BBB- 1 Baa1 3 BBB 2 6  47,852 12/31/22
9 Development Bank of Kazakhstan Kazakhstan BBB 2 Baa2 2 BBB- 1 5  8,522 12/31/22
10 MFB Hungarian Development Bank Hungary BBB 2 Baa2 2 NR 1 5  7,969 12/31/22
Asia
Rank Name Domicile Fitch Rating Fitch Score Moody’s Rating Moody’s Score S&P Rating S&P Score Total Score Total Assets
(USD million)
Report Date
1 DBS Bank Singapore AA- 7 Aa1 9 AA- 7 23  552,854 12/31/22
2 Oversea-Chinese Banking Corp Singapore AA- 7 Aa1 9 AA- 7 23  417,504 12/31/22
3 United Overseas Bank Singapore AA- 7 Aa1 9 AA- 7 23  375,026 12/31/22
4 Korea Development Bank South Korea AA- 7 Aa2 8 AA 8 23  277,506 12/31/22
5 Export-Import Bank of Korea South Korea AA- 7 Aa2 8 AA 8 23  96,524 12/31/22
6 Industrial Bank of Korea South Korea AA- 7 Aa2 8 AA- 7 22  338,516 12/31/22
7 Bank of Taiwan Taiwan NR 6.5 Aa3 7 AA 8 21.5  201,018 12/31/22
8 Hang Seng Bank Hong Kong AA- 7 Aa3 7 AA- 7 21  242,547 12/31/22
9 China Development Bank China A+ 6 A1 6 A+ 6 18 2,611,377 12/31/22
10 Agricultural Development Bank of China China A+ 6 A1 6 A+ 6 18 1,300,658 12/31/22
Middle East
Rank Name Domicile Fitch Rating Fitch Score Moody’s Rating Moody’s Score S&P Rating S&P Score Total Score Total Assets (USD million) Report Date
1 First Abu Dhabi Bank United Arab Emirates AA- 7 Aa3 7 AA- 7 21  302,249 12/31/22
2 Qatar National Bank Qatar A 5 Aa3 7 A+ 6 18  326,552 12/31/22
3 Abu Dhabi Commercial Bank United Arab Emirates A+ 6 A1 6 A 5 17  135,554 12/31/22
4 National Bank of Kuwait Kuwait A+ 6 A1 6 A 5 17 118,733 12/31/22
5 Emirates NBD Bank United Arab Emirates A+ 6 A2 5 NR 4.5 15.5  202,023 12/31/22
6 Abu Dhabi Islamic Bank United Arab Emirates A+ 6 A2 5 NR 4.5 15.5  45,884 12/31/22
7 Bank Leumi Israel A 5 A2 5 A 5 15  198,148 12/31/22
8 Bank Hapoalim Israel A 5 A2 5 A 5 15  188,565 12/31/22
9 Boubyan Bank Kuwait A 5 A2 5 A 5 15  25,750 12/31/22
10 Saudi National Bank Saudi Arabia A- 4 A1 6 A- 4 14  251,596 12/31/22
Australasia
Rank Name Domicile Fitch Rating Fitch Score Moody’s Rating Moody’s Score S&P Rating S&P Score Total Score Total Assets
(USD million)
Report Date
1 Commonwealth Bank of Australia Australia A+ 6 Aa3 7 AA- 7 20  817,007 12/31/22
2 Australia and New Zealand Banking Group Australia A+ 6 Aa3 7 AA- 7 20  744,234 3/31/23
3 National Australia Bank Australia A+ 6 Aa3 7 AA- 7 20  702,098 3/31/23
4 Westpac Australia A+ 6 Aa3 7 AA- 7 20  682,555 3/31/23
5 Kiwibank New Zealand AA 8 A1 6 NR 6 20  21,104 12/31/22
6 Suncorp-Metway Australia A 5 A1 6 A+ 6 17  54,129 12/31/22
7 Macquarie Group Australia A 5 A2 5 BBB+ 3 13  260,340 3/31/23
8 Bank of Queensland Australia A- 4 A3 4 BBB+ 3 11  70,829 2/28/23
9 Bendigo and Adelaide Bank Australia A- 4 A3 4 BBB+ 3 11  65,541 12/31/22
10 Newcastle Greater Mutual Group Australia NR 2 A3 4 BBB 2 8  13,498 6/30/23
Africa
Rank Name Domicile Fitch Rating Fitch Score Moody’s Rating Moody’s Score S&P Rating S&P Score Total Score Total Assets
(USD million)
Report Date
1 Attijariwafa Bank Morocco BB -2 Ba1 -1 BB -2 -5  60,948 12/31/22
2 Groupe Banque Centrale Populaire Morocco NR -2.5 Ba1 -1 BB -2 -5.5  47,873 12/31/22
3 Bank of Africa Morocco BB -2 Ba1 -1 NR -2.5 -5.5  36,673 12/31/22
4 FirstRand Bank South Africa BB- -3 Ba2 -2 BB- -3 -8  90,118 12/31/22
5 Nedbank South Africa BB- -3 Ba2 -2 BB- -3 -8  73,213 12/31/22
6 Investec Bank South Africa BB- -3 Ba2 -2 BB- -3 -8  33,523 3/31/23
7 Standard Bank Group South Africa BB- -3 Ba3 -3 NR -4 -10  168,508 12/31/22
8 Absa Group South Africa BB- -3 Ba3 -3 NR -4 -10  104,780 12/31/22
9 National Bank of Egypt Egypt B -5 B3 -6 B -5 -16  176,376 12/31/22
10 Banque Misr Egypt B -5 B3 -6 B -5 -16  104,129 12/31/22

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