The Global Finance magazine released the world’s safest banks list for 2009 on February 25th. For the first time they published this mid-year update due to the turmoil in the world’s banking industry.
The list was compiled based on the comparison of long-term credit ratings and total assets of the 500 largest banks in the world. The ratings were issued by Standard & Poor's, Moody’s and Fitch.
According to Global Finance publisher Joseph D. Giarraputo “The rating agencies have determined these banks have demonstrated a more prudent and sustainable approach to risk than their peers.”
The World’s 50 Safest Banks 2009
|France||Caisse des Depots et Consignations (CDC|
|The Netherlands||Bank Nederlands Gemeenten (BNG)|
|Canada||Royal Bank of Canada||RY|
|Australia||National Australia Bank||OTCPK:NABZY|
|Australia||Commonwealth Bank of Australia|
|Spain||Banco Bilbao Vizcaya Argentaria (NYSE:BBVA)||BBV|
|Australia||Australia & New Zealand Banking Group||OTCPK:ANZBY|
|Australia||Westpac Banking Corporation||WBK|
|Spain||Banco Espanol de Credito S.A. (Banesto)|
|New Zealand||ASB Bank Limited|
|Spain||Banco Popular Espanol|
|Canada||Bank of Montreal||BMO|
|Norway||DnB NOR Bank|
|USA||The Bank of New York Mellon||BNY|
|Portugal||Caixa Geral de Depositos|
|Singapore||United Overseas Bank||OTCPK:UOVEY|
|Belgium||Axa Bank Europe|
|Switzerland||Credit Suisse Group||CS|
|UK||Nationwide Building Society|
|Kuwait||National Bank Of Kuwait|
|Japan||Bank of Tokyo-Mitsubishi UFJ|
|France||Banque Federative du Credit Mutuel (BFCM)|
|France||Credit Industriel et Commercial (CIC)|
Source: Global Finance magazine
If a bank trades in the US markets the ticker is listed.
All the five large Canadian banks are on this list. This is interesting since recently there have been many reports praising the banking system in Canada which is holding up pretty well when compared to banking systems in other countries. US-based banks Citibank (NYSE:C) and Bank of America (NYSE:BAC) did not make it to the list. Three of the large banks in Singapore were selected. It is not clear why most of the countries outside of the developed world are not included in the rankings.
For the World’s Top Ten Safest Banks in 2008, go here.