TOP 50 SAFEST BANKS WORLDWIDE

S'pore banks make the cut
By Gabriel Chen

SINGAPORE banks are among the top 50 safest worldwide, according to Global Finance magazine.

DBS Bank kept the Republic's flag flying high by snagging the No. 28 spot, up from 41th position in the previous year.

United Overseas Bank and OCBC Bank - both of which were not in the top 50 list in last year's rankings - came in at 37th and 38th, respectively.

The ranking, announced last month by the US-based magazine, is based on size and credit quality of the lender.

First, the world's largest banks by asset size are selected. Then ratings from Fitch Ratings, Moody's Investors Service and Standard & Poor's are applied to the list, with appropriate weightings.

Banks that garner good ratings across the board occupy a higher position.

Mr Trevor Kalcic, regional bank analyst at ABN Amro Asia Securities, said it is easy to see why Singapore's Big Three have been recognised as among the world's safest.

'They've very strong capital positions, they don't face the kind of liquidity constraints other banks face, and we've a strong regulatory regime and that clearly helps,' he said.

Of course, such rankings must also be taken with a pinch of salt, banking observers say.

Top position for this year's rankings was occupied by KfW Bankengruppe, dubbed 'Germany's dumbest bank' by the country's leading newspaper, Bild.


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