22 ME banks among 50 safest in emerging markets
New York, November 7, 2012
A total of 22 regional banks were ranked among the 50 safest banks in emerging markets by leading US-based finance magazine Global Finance in its second annual ranking.
The National Bank of Abu Dhabi was ranked third after China Development Bank and Agricultural Bank of China, while the National Bank of Kuwait, Qatar National Bank and the Samba Financial group of Saudi Arabia claimed the fourth, seventh and eighth spots respectively among the top 10.
For the ranking, Global Finance used the same criteria as is applied to the annual World’s Safest Banks ranking.
“We evaluate the ratings and total assets of the main players in developing economies to create the rankings—providing an overview of the key banks in each region and which financial institutions offer the greatest security,” said Global Finance publisher Joseph D Giarraputo.
Winners were selected through an evaluation of long-term credit ratings—from Moody’s, Standard & Poor’s and Fitch Ratings—and total assets of the 500 largest banks in emerging markets.
The rankings clearly show the ever-growing dominance of China’s banks both within Asia and throughout the emerging markets, said Giarraputo. Chilean and South Korean banks also feature prominently in the rankings, as do those of Kuwait, Saudi Arabia and the UAE.
“For companies looking to expand into new markets, choosing the right banking partner is critical,” he added.
“This ranking is an invaluable tool for companies to evaluate institutional strength in fast-growing emerging markets.” – TradeArabia News Service