The World's Safest Banks

World’s Safest Banks

ANNUAL SURVEY: SAFE AND SOUND

By Andrew Cunningham

Global Finance presents it annual ranking of The World’s Safest Banks.

Despite the ongoing debt crisis, European banks continue to dominate the ranks of the World’s Safest Banks in 2011 ...

Award Winners

Best In Class

ANNUAL SURVEY: WORLD’S BEST BANKS

A selection from Global Finance ’s best banks awards from the past year.

WORLD’S BEST FOREIGN EXCHANGE PROVIDERS 2011

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WORLD’S BEST DERIVATIVES PROVIDERS 2011

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WORLD’S BEST SUB-CUSTODIANS 2011

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WORLD’S BEST ...

Newsmakers

Buffett’s Vote Of Confidence In Bank of America

NEWSMAKERS: UNITED STATES

By Gordon Platt

Billionaire investor Warren Buffett was soaking in the tub when he came up with the idea of investing $5 billion in Bank of America.

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Buffett banks on domestic investments

The Berkshire Hathaway chief executive ...

Daunting Task For New Economy And Finance Minister

NEWSMAKERS: NIGERIA

By Antonio Guerrero

Nigeria’s new economic chief, former World Bank managing director Ngozi Okonjo-Iweala, says she will focus much of her efforts on diversifying her nation’s economy away from overdependence on oil and gas revenues.

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Okonjo-Iweala ...

Lagarde Prepares To Put Her Stamp On The IMF

NEWSMAKERS: GLOBAL

By Michael Shari

Not since the reconstruction of Western Europe in the aftermath of World War II has an incoming managing director of the International Monetary Fund come under such tremendous pressure to prove that it is still ...

Reform In The Spotlight In Singapore Elections

NEWSMAKERS: SINGAPORE

By Thomas Clouse

Former deputy prime minister Tony Tan was sworn in as Singapore’s new president on September 1 after narrowly defeating his closest competitor in a four-candidate race in late August.

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Tan wins by narrow margin ...

Uniting Divided Factions In Japan

NEWSMAKERS: JAPAN

By Thomas Clouse

Yoshihiko Noda became Japan’s sixth prime minister in the last five years after the lower house of parliament voted the 54-year-old finance minister into office on August 30.

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Noda is Japan’s sixth PM ...

Milestones

Bank/Insurer Relationship Called Into Question

MILESTONES: GLOBAL

By Paula L. Green

Financial industry regulators better have their feet on the ground—and a sound understanding of the links between the banking and insurance sectors—when they lay down new rules meant to bolster the troubled ...

Chavez Banks On Gold Repatriation And Privatization

MILESTONES: VENEZUELA

By Antonio Guerrero

Venezuelan President Hugo Chavez in August gave the world’s gold markets a double-fisted punch.

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Gold may reduce oil dependence

On the one hand, he nationalized his country’s gold mining sector. On the other ...

Denmark Extends Claim In Arctic Seabed

MILESTONES: ARCTIC

By Paula L. Green

The Danish government is embarking on a precarious high-wire act as it presents an Arctic seabed claim to the UN Commission on the Limits of the Continental Shelf.

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Danish Arctic claims clash with Russia ...

Governments Push To Close Tax Loopholes

MILESTONES: US/EUROPE

By Anita Hawser

As governments in the US and Europe embark on a program of austerity measures, they are more eager than ever before to claw back millions from undeclared offshore accounts.

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Swiss banks reach deal with ...

Greek Bank Merger A Herald Of Things To Come

MILESTONES: GREECE

By Luca Ventura

The recently-announced merger of Greek banks Alpha Bank and Eurobank EFG could breathe fresh life into the much-troubled Greek banking sector.

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Tides turning in Greece with bank merger

In fact, it would difficult to overstate ...

Corporate Finance

Debt: No Spike In Corporate Defaults

CORPORATE FINANCING NEWS: CORPORATE DEBT

By Gordon Platt

Credit spreads widened dramatically during the turmoil in the credit markets this summer as the global economic outlook worsened, Standard & Poor’s stripped the US of its triple-A credit rating, and the ...

DRs: Market Volatility Hinders IPOs

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS

By Gordon Platt

The recent volatility in global equity markets and the heightened uncertainty around the global economic outlook forced a virtual shutdown of the market for initial public offerings in early August, just ...

FX: Europe's Unresolved Crises

CORPORATE FINANCING NEWS: FOREIGN EXCHANGE

By Gordon Platt

Safe-haven buying drove US bond yields to the lowest level since 1950, and the dollar rose as the tumultuous summer of 2011 drew to a close with no solution in sight to ...

M&A: Google, HP Lead Tech M&A

CORPORATE FINANCING NEWS: MERGERS & ACQUISITIONS

By Gordon Platt

Transformations of technology companies are fueling multibillion-dollar mergers and acquisitions and divestitures, as the industry consolidates and develops new businesses to compete for corporate IT budgets.

Google’s $12.5 billion purchase ...

Emerging Markets Roundup

DRs: Market Volatility Hinders IPOs

CORPORATE FINANCING NEWS: GLOBAL EQUITY/DRS

By Gordon Platt

The recent volatility in global equity markets and the heightened uncertainty around the global economic outlook forced a virtual shutdown of the market for initial public offerings in early August, just ...

Company To Watch: Hero MotoCorp/India

HERO GROUP EYES AFRICAN MOTORCYCLE MARKET

By Gordon Platt

Hero MotoCorp, India’s leading manufacturer of motorcycles and scooters, bought out its joint venture partner, Honda, earlier this year.

Honda wanted to focus more intently on the fast-growing two-wheeler vehicle ...

Country Report: India

INNER GAZE

By Michael Shari

Global food and fuel inflation, undeveloped infrastructure and a correction in emerging markets are leading India to look inward.

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It’s not easy to keep a straight face in response to a banker’s complaints ...

Country Report: Turkey

RIDING THE WAVE

By Justin Keay

Turkey’s economy has performed quite well, but reform is needed at home to build sustainable growth.

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Early August saw unprecedented turbulence on global financial markets, and Turkey’s was no exception. On one ...

DR News: Taiwan’s China Steel GDR Raises $751 Million

EMERGING MARKETS INVESTOR: DR NEWS

By Gordon Platt

China Steel, Taiwan’s biggest steelmaker, raised $751 million in a follow-on offering of global depositary receipts (GDRs).

The issue was the largest equity offering by a Taiwanese company in the past ...

EM News: Emerging Markets Prove Haven in Global Storm

EMERGING MARKETS INVESTOR: NEWS

By Gordon Platt

Emerging markets continue to outperform developed markets and were a relatively safe haven during the recent global equity market volatility.

Emerging market bond funds and currencies were stellar performers during the sell-off in ...

Emerging Markets Roundup: Africa

PUBLIC-PRIVATE PARTNERSHIPS TO FINANCE INFRASTRUCTURE UPGRADES

By Antonio Guerrero

Tanzania plans to invest $742 million by the end of 2012 to tackle its crippling energy deficit.

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African energy projects to get PPP boost

Under an emergency power rescue investment plan ...

Emerging Markets Roundup: Brazil

INVESTMENT SPREE FOR FIFA WORLD CUP AND OLYMPICS

By Antonio Guerrero

Brazil is preparing for a major investment spree ahead of the 2014 FIFA World Cup and 2016 Olympic Games.

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Brazil prepares for FIFA World Cup 2014

Brazil’s tourism ...

Emerging Markets Roundup: China

RISING RATES ARE ENCOURAGING LENDING

By Thomas Clouse

Strong demand for loans and higher interest rates boosted profits at several Chinese banks to record levels.

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Record-high net profits at China Construction Bank

Strong demand for loans and higher interest rates ...

Emerging Markets Roundup: India

FOREIGN INSTITUTIONAL INVESTOR FLOWS START TO DECLINE

By Aaron Chaze

Inflation fears, monetary tightening and slowing corporate growth may reduce foreign institutional investor interest.

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Reserve Bank of India cites strong outward investment by Indian firms

Worries over inflation, monetary tightening ...

Emerging Markets Roundup: Middle East

BAHRAIN: PROTESTS IMPACT THE ECONOMY

By Gordon Platt

Political unrest in Bahrain in February and March may have cost the economy as much as $2 billion.

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New governor at Dubai International Financial Centre

Essam Fakhro, chairman of the Bahrain Chamber ...

Emerging Markets Roundup: Russia

PRIVATIZATION PLANS MAY GROW

By Kim Iskyan

Putin ally Valentina Matviyenko became the speaker of the Federation Council in Russia’s national parliament.

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Oil producer Rosneft may be fully privatized

Governor of St. Petersburg and longtime Putin ally Valentina Matviyenko ...

Trade & Supply Chain Finance 2011

WEATHERING THE STORM

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Following the 2008 financial crisis, trade finance was a term often uttered in the upper echelons of global political circles. Treasury secretaries bandied the term around at G20 meetings, stressing the importance of keeping the wheels of ...

World’s Best Banks 2011: Global Winners

Global Winners

Best Corporate Bank

JPMorgan Chase

JPMorgan Chase provides many of the world’s most prominent corporations with the financial services they need to succeed in global markets. With $2 trillion in assets, the bank operates in 60 countries ...

Additional Stories

Central Banker Report Cards 2011

MIRACLE WORKERS REACH END OF THE ROAD

By Gordon Platt, Antonio Guerrero and Anita Hawser

Boosting employment and production are the elusive goals of today’s central bankers.

If it’s broke, fix it. Central bankers are taking on new ...

Central Banker Report Cards 2011: Asia

ASIA

Australia

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Glenn Stevens

Grade: A

Glenn Stevens, governor of the Reserve Bank of Australia, has a steady hand and clear policy views when it comes to making monetary decisions at the RBA. At its meeting in August, the RBA ...

Central Banker Report Cards 2011: Europe

EUROPE

Czech Republic

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Miroslav Singer

Grade: B

Miroslav Singer had just been appointed governor when we published our last Central Banker Report Cards, but he hasn’t wasted any time in giving his assessment on how the euro crisis could ...

Central Banker Report Cards 2011: Middle East & Africa

MIDDLE EAST & AFRICA

Angola

José de Lima Massano

Grade: B

The performance of Angola’s economy depends more on oil prices than on monetary policy. José de Lima Massano, former CEO of Banco Africano de Investimentos, was appointed central bank ...

Central Banker Report Cards 2011: The Americas

The Americas

Argentina

Mercedes Marcó del Pont

Grade: D

When Argentine president Cristina Fernández de Kirchner appointed political ally Mercedes Marcó del Pont to head the central bank in February 2010, there was little hope the move would lead to ...

Country Report: Israel

RESPONSIBILITY AND REFORM

By Gilly Wright

Responsible fiscal and monetary policies and a host of reforms aimed at liberalizing the economy have allowed Israel to become one of the world’s most attractive places for foreign investment. But change is ...

Country Report: Taiwan

THE TIES THAT BIND

By Gordon Platt

Taiwan is expanding its ties to mainland China, boosting its own economic prowess.


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Taiwan’s economic ties to China are likely to continue to expand and deepen, no matter the outcome of the ...

Regional Report: Africa

CLOUDY HORIZONS

By Antonio Guerrero

While South Africa is attempting to get out from under its recession, countries in sub-Saharan Africa are dealing with the impact of volatile global oil markets and decreased investment from their neighbor to the south ...

Trade & Supply Chain Finance 2011: Forfaiting

IN WITH THE OLD

By Paula L. Green

Thanks to new technology that improves information flow, traditional trade finance tools such as forfaiting are now being used more frequently as part of a broader supply chain finance program.

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Camerinelli, Aite ...

Trade & Supply Chain Finance 2011: Global Trade

REBUILDING CONFIDENCE

By Anita Hawser

Global trade was affected over the course of 2011 by major disruptions such as the US sovereign rating downgrade, the Japanese earthquake and political upheaval in the Middle East and North Africa. Not only are ...

Trade & Supply Chain Finance 2011: Sustainable Supply Chains

GREEN PROFITS By Denise Bedell Companies have long been working on creating sustainable internal operations. With growing recognition of the symbiotic buyer-supplier relationship, they are now moving those efforts into their supply chains—and reducing costs in the process. There has ...

Trade & Supply Chain Finance 2011: Trade Receivables Securitization

BECOMING LIQUID By Denise Bedell Investor interest in trade receivables securitization is growing, and companies are taking note as they search for alternative liquidity sources. Atallah, Deutsche Bank: Volatile credit markets are forcing companies to use new liquidity tools Trade ...

World’s Biggest Banks

SPECIAL REPORT: THE BIG LEAGUES

By Andrew Cunningham

Global Finance presents its ranking of the World’s Biggest Banks.

Assets sizes of the world’s biggest banks have stabilized, after three years of deleveraging and asset write-downs. The 50 banks ...