Royal Bank of Canada ranks 10th among the world’s safest banks, according to Global Finance’s 19th annual list. France’s Caisse des Depots et Consignations topped the magazine’s 2010 rankings, followed by names from the Netherlands, Germany and Switzerland to round out the top ten.
Toronto-Dominion Bank broke the top twenty with a rank of 15th, while Bank of Nova Scotia was 22nd. Caisse centrale Desjardins (an affiliate of Desjardins Group) came in at 25th, Bank of Montreal was 36th and CIBC 37th. That had these six Canadian banks dominating the list of the ten safest banks in North America.
JPMorgan Chase was the highest ranked U.S. bank in 40th, while Wells Fargo ranked 43rd and U.S. Bancorp came in at 48th.
The banks were selected by comparing the long-term credit ratings and total assets of the world’s 500 largest banks – using ratings from Moody’s, Standard & Poor’s and Fitch.
“Banks that have strengthened their liquidity positions and the quality and quantity of their capital are recognized in these rankings,” Global Finance publisher Joseph D. Giarraputo said in a statement. “More than ever, customers around the world are viewing long-term creditworthiness as the key feature of banks with which they do business.”
CIBC was ranked the Best Consumer Internet Bank in Canada, Citigroup took top honours as the country’s Best Corporate/Institutional Internet Bank, and CIBC led the way for Best Information Security Initiatives among Consumer Internet Banks.
The survey will be published in the magazine’s October issue, while the top 10 banks will be honoured in a ceremony during the IMF and World Bank annual meetings in Washington in October
Read more: http://business.financialpost.com/2010/08/31/rbc-ranks-as-worlds-10th-safest-bank/#ixzz12dOwQOJt