World’s 50 Safest Banks: April 2013

Global Finance announces a half-yearly update World’s 50 Safest Banks: April 2013

NEW YORK, February 26, 2013 — Bank stability is an ever-more pressing concern for the world’s companies and investors. It is within this context that Global Finance announces the half-yearly update to its ranking of the World’s 50 Safest Banks—the recognized standard of creditworthiness for the entire financial world since it was first introduced in 1992.

In developed markets, economic uncertainty has affected the ratings of some financial institutions, including a number of banks in Canada—which had been seen as a bastion of banking safety since the crisis began in 2007. While in emerging markets, institutions have generally held their ratings and moved up the list as some developed market banks moved down.

The biggest climber from the prior list published in October 2012 is BancoEstado of Chile, up six positions from 42 to 36, followed by Svenska Handelsbanken (up 5) and Nordea (up 4). Newcomers to this year’s Top 50 list include two South Korean banks (Korea Finance Corp and Industrial Bank of Korea) and Norway’s DnB. With Toronto Dominion bank having lost its Aaa rating from Moody’s, no private sector bank now holds a Triple-A rating from any of the agencies.

“Counterparty risk is of prime importance to global CFOs and financial executives as economic uncertainty continues to trouble global markets,” says Global Finance publisher Joseph D. Giarraputo. “ Global Finance’s Safest Banks ranking provides an independent analysis of each region’s banks that companies can use as a tool to benchmark their counterparties. The institutions that top our ranking of the Safest Banks are those that have shown their strength in times of turbulence.”

The ranking was created through an evaluation of long-term credit ratings—from Moody’s, Standard & Poor’s and Fitch Ratings—and total assets of the 500 largest banks worldwide.

For editorial information please contact: Andrea Fiano, editor, email: afiano@gfmag.com

Assets as of: December 31, 2011
Ratings as of: February 11, 2013