World’s Safest Banks
The embedded document below shows the 50 safest/strongest banks in the world as analyzed by Global Finance. There are only 4 U.S. based banks on the list (Wells Fargo: #21; US Bancorp: #26; The Bank of New York Mellon: #35; and JPMorgan Chase: #47). Bank of America is notably absent from the list. European banks have a strong showing with 31 of the top 50 and the top 9 overall. The German banking system looks to be the clear leader in sound banking fundamentals with 4 of the top 7 and 5 of the top 50 and the top overall ranking with KfW. France has 6 of the top 50 overall, the most of any country. Canada claims 5 of the top 50 and Spain and Australia each have 4 of the top 50.
The report does not go into detail as to how the rankings are established but I’m going to go out on a limb and guess that the banks on this list don’t have much exposure in residential subprime mortgages.
Maybe we need to recruit some German and French bankers to help reform our system because we can’t seem to fix it ourselves.
The World’s 50 Safest Banks 2009 (Global Finance)
Interesting data, both BankAmerica & WellsFargo (on the list of strong banks) have big exposures to commercial mortgages. See for example,
http://www.bloomberg.com/apps/news?pid=20601109&a...
WFC CEO claims the exposure to commercial mortgages is not an issue because of more disciplined lending practices in that sector (relative to home mortgages), only time will tell if this going to come back to bite them.
Very important to know such facts..
I like the German banks which are
very disciplined.
I never had such an idea about the usa banks.
Idaho Real Estate
Interesting post.