DBS named Asia's safest bank, OCBC at No. 2 and UOB at No. 4

DBS has topped the list of Asia's safest banks for the eighth consecutive year.
DBS has topped the list of Asia's safest banks for the eighth consecutive year.PHOTO: ST FILE

SINGAPORE - Singapore banks again dominated a ranking of Asia's safest lenders, with DBS topping the list for the eighth consecutive year.

DBS was also named the 12th safest bank in the world by the New York-based trade publication Global Finance.

OCBC Bank was ranked second safest in Asia and 14th globally, while United Overseas Bank came in fourth in Asia and 16th in the world.

The banks 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 worldwide.

Said Global Finance publisher and editorial director Joseph D Giarraputo: "In the past year, Asia has seen landmark political shifts at a time of economic uncertainty. Our ranking of the safest banks in the region showcases banks that have built solid foundations - offering security and stability in this rapidly changing environment - and provides a consistent tool for comparing institutional strength within the region."

In the world ranking, Germany's KfW took the top spot for the fifth year in a row, followed by Zurcher Kantonalbank of Switzerland and Germany's Landwirtschaftliche Rentenbank.

The top-ranking US bank this year was AgriBank, which was placed 33rd globally.

The full results of Global Finance's annual survey will be published in its November issue.