Singapore Banks Dominate in world`s TOP 20
Bloomberg market presented strongest banks rating. Among 20th best 3 Singapore`s banks. Article about criterions of evaluation and dynamics of Asian banks.
- (1888PressRelease) October 06, 2015 - Bloomberg market published world`s top 20 strongest banks. Three Singapore banks (Oversea-Chinese Banking, DBS Group Holdings, United Overseas Bank) get spots in this ranking. The first place went to Hong Kong bank Hang Seng Bank, which led the ranking of the strongest banks in 2014. Japanese Norinchukin got second place and Singapore`s Oversea-Chinese Banking was third. Other two Singapore banks DBS Group Holdings and United Overseas Bank again were in top 20.
Banks were ranked by 5 criteria:
The ratio of banks' capital of the first level to its risk-weighted assets. This criterion was 40% of the total score of each bank.
The ratio of nonperforming assets to total assets. This criterion was 20% of the total score of each bank.
The ratio of allowance for loan losses to non-performing assets. This criterion was 20% of the total score of each bank.
The ratio of deposits to finance. This criterion was 15% of the total score of each bank.
Efficiency ratio, which compares the costs and revenues. This criterion was 5% of the total score of each bank.
Banks were assessed for each criterion, than the scores were combined to determine the overall score for each institution. Credit institutions that reported losses in net income were excluded from the ranking. The information was taken for the last fiscal year, which in the majority of banks ended December 31, 2014. However, in few Indian banks and the bank Norinchukin fiscal year ends in March, so the study took information prior fiscal year. 114 banks, 13 of which are private banking institutions participated.
4 years in a row 3 Singapore banks are rated as world's top 20:
Third place - OCBC Bank.
Ninth place - DBS Bank.
Tenth place - United Overseas Bank.
OCBC CEO Samuel Tsien commented on this award and said that the bank will not rest on laurels and will continue to manage capital, maintaining liquidity positions. The Bank will follow the established strategy for sustainable growth in key financial markets. These aspects, as emphasized Samuel Tsien, are the most important for the bank's customers, its investors and regulators.
Head of Strategic Marketing and Communications DBS Bank Karen Ngui noted that over the years, Singapore is the leading financial center and bank employees are pleased that Singapore banks are considered not only as a leader but also a reliable partner in the global financial arena. Karen Ngui mentioned that DBS will closely monitor the risks, rely on information technology to support the bank's customers both domestically and abroad.
Pay attention that 6 world`s top 20 banks are from Asia. Furthermore five of them are in top 10, three of them are Singapore`s. It tells about "economically friendliness" of Asian region, especially Singapore, its stability and rapid development. If you want to incorporate your business to top worlds, Singapore banks obtaining EntrePass visa is the right option. All the procedures and more information you can find by contacts below.
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