Magazine article Global Finance

Europe Puts on A Strong Showing

Magazine article Global Finance

Europe Puts on A Strong Showing

Article excerpt

Banks in Western Europe occupy the most spots in the ranking of Global Finance's Safest Commercial Banks-but one bank from Canada tops the list again.

For the second year in a row, TD Bank Group sits at the top of Global Finance's ranking of the Safest Commercial Banks. The Canadian financial institution carries an AA+ rating from Moodys and AAratings from both Fitch and S&P.

The three large Singaporean banks-DBS, Oversea-Chinese Banking Corporation and United Overseas Bank-boast the same ratings as last year, but are ranked below TD Bank Group on the basis of smaller asset size.

TD Bank placed 10th in Global Finance's overall list of the 50 Safest Global Banks. DBS came in at number 11. OCBC took the 12th spot; United Overseas Bank was one notch below that.

Seventeen of the World's Safest Commercial Banks are based in Western Europe. It's a strong showing, but not as impressive as how Western European banks fared in our Global Safest Banks ranking, where banks located in that region hold the top nine places on the list. Overall, they contribute 22 banks to the top 50. Germany's DZ Bank is the only financial institution from Western Europe to be ranked in the top 10 (at number 10) on the list of the Safest Commercial Banks.

US banks have a bigger presence on the Safest Commercial Banks list than the Safest Global Banks ranking, where they claimed only three spots. All told, American banks occupy eight places in the commercial bank rankings. Led by TD Bank, Canadian financial institutions take seven of the 50 positions. Australia contributes five banks.

This year's ranking of the World's Safest Commercial Banks includes four new entries: Pictet & Cie and EFG, both from Switzerland; LGT Bank from Lichtenstein and New Zealand's Kiwibank. Shizuoka Bank, based in Japan, was downgraded by Moody's in December 2014 and thus falls out of the top 50 ranking. …

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