Global Finance magazine, one of the most noted international publications, shortlisted in its first mid-year update, a top of the 50 safest banks in the world, due to the wrenching financial crisis engulfing the global economic market.
The hierarchy was made based on a comparison of the long-term credit ratings and total assets of the world’s 500 largest banks across the world. The publication took into account the ratings established by Standard&Poor’s, Moody’s and Fitch.
Société Générale (31st position), the third French bank, Italian bank Intesa Sanpaolo (32) and La Caixa (24), Spain’s largest saving bank, are the only banking groups included in the ranking that hold subsidiaries in the Romanian market.
French-based Credit Agricole, (20) is indirectly active in Romania through its subsidiary, Emporiki Bank.
The number of players in Romanian banking scene has risen in last quarter 2008, from 42 to 43, with Depfa Bank taking its first step in the local industry in December.
At the end of September 2008, 42 banks were running operations in Romanian market, of which 6 have own capital (CEC Bank, Banca Transilvania, EximBank, Banca Comerciala Carpatica, Libra Bank and CreditCoop), the rest having foreign capital.
Country/Bank
1. Germany - KfW
2. France - Caisse de Depots et Consignations
3. Netherlands - Bank Nederlands Gemeenten (BNG)
4. Germany - Landwirtschaftliche Rentenbank
5. Netherlands - Rabobank
6. Germany - Landeskreditbank Baden-Wuerttemberg-Foerderbank
7. Germany - NRW. Bank
8. France - BNP Paribas
9. Spain - Banco Santander
10. Canada - Royal Bank of Canada
11. Australia - National Australia Bank
12. Australia - Commonwealth Bank of Australia
13. Spain - Banco Bilbao Vizcaya Argentaria (BBVA)
14. Canada - Toronto-Dominion Bank
15. Australia - Australia & New Zealand Banking Group
16. Australia - Westpac Banking Corporation
17. Spain - Banco Espanol de Credito S.A. (Banesto)
18. New Zealand - ASB Bank Limited
19. United Kingdom – HSBC
20. France - Credit Agricole
21. United States - Wells Fargo
22. Sweden - Nordea Bank
23. Canada – Scotiabank
24. Spain - La Caixa
25. Sweden - Svenska Handelsbanken
26. United States - US Bancorp
27. Spain - Banco Popular Espanol
28. Singapore - DBS Bank
29. Finland - Pohjola Bank
30. Germany - Deutsche Bank
31. France - Société Générale
32. Italy - Intesa Sanpaolo
33. Canada - Bank of Montreal
34. Norway - DnB NOR Bank
35. United States - The Bank of New York Mellon
36. Portugal - Caixa Geral de Depositos
37. Singapore - United Overseas Bank
38. Singapore – OCBC
39. Belgium - Axa Bank Europe
40. Switzerland - Credit Suisse Group
41. Germany - Landesbank Baden-Wuerttemberg
42. United Kingdom - Nationwide Building Society
43. Canada – CIBC
44. Kuwait - National Bank Of Kuwait
45. United Kingdom - Barclays
46. Switzerland – UBS
47. United States - JPMorgan Chase
48. Japan - Bank of Tokyo-Mitsubishi UFJ
49. France - Banque Federative du Credit Mutuel (BFCM)
50. France - Credit Industriel et Commercial (CIC)
Article comments "World’s 50 safest banks: only three run operations in Romania"
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