Global Finance determines the safest banks of the world

09.09.2014

Global Finance Magazine organized webinar in connection to the completion of the ranking list “World’s Safest Banks”. The list was concluded based on the ratings from Standard & Poor’s, Moody’s, Fitch, and consists of almost 1000 banks from all over the world.

Besides the general ranking the bank also concluded the ratings for different countries and regions.

First fifteen positions amongst the world safest banks are situated in such jurisdictions as Switzerland, The Netherlands, Luxembourg, Germany, France, Canada and Singapore.

Canadian banks are leading in the North America. In the Western Europe the leading ones are banks of Germany, Switzerland and Luxembourg. In Eastern and Central Europe the first ones are banks of Czech Republic, Poland and Russia. Chilean banks took the leading positions in Latin America. In Asian region in the first three positions are Singaporean banks – the first is DBS, the second is OCBS, and the third one is UOB. In the Middle East leading positions are occupied by national banks of UAE, Qatar and Kuwait.

The safest banks for some jurisdictions may be found below:

Austria - Raiffeisen Bank;

Cyprus – Hellenic Bank;

Denmark - Danske Bank;

Lichtenstein – LGT Bank;

United Kingdom – HSBC;

Latvia – Citadele Bank.

The actual list will be published in the November issue of the Global Finance Magazine.

Source : https://www.gfmag.com/media/video/webinar-2014-worlds-safest-banks-rankings-announcement

Expert’s opinion

This bank ranking is considerably predictable and expected. Stability and reliability are the words that have become, in our time, too shaky. Nevertheless, it makes sense to check where your assets are stored.

We are particularly pleased that the Cyprus Hellenic Bank is not just included in the rating, but is included as a leader amongst Cypriot banks.

Definitely, you should pay attention to the Singapore banks, which are not present in Europe. Consequently, the European sanctions are not applicable to them.

As always, we recommend diversifying of not only the currency, but also of the banks! You better have multiple accounts, even best - in different countries.

Irina Lomakina ( Director of Moscow Office, Honest & Bright)