As per the study issued by the Global Finance magazine, which presented the list of 50 safest banks in the world in 2010, BancoEstado leads the list of safest bank in Latin America.
The Chilean banking system reached a positive result, particularly BancoEstado, in the 19th edition of the Global Finance Magazine ranking of safest banks in the world. This information was gathered through the comparison of long term risk rating and total assets of Moody’s, Standard & Poor’s and Fitch risk analyzers.
BancoEstado is the safest institution in Latin America
In the ranking by region, BancoEstado heads the list, followed by the Banco de Chile, Nacional Financiera (Mexico), Corpbanca (Chile) and First Citizens Bank (Trinidad y Tobago). The classification strengthens the reputation of the Chilean banking system, in times where the focus worldwide is in bank’s financial stability.
“More than ever, clients around the world are analyzing long term solvency as the key feature to choose a bank to make business”, explains Joseph D. Giarraputo, the magazine’s editor. “Those banks have strong capital positions and higher capacities for risk management”, he added.
The Global Finance Study made an outstanding evaluation of the Chilean banking system.
In the global ranking of safest banks in the world, the list is headed by the Caisse des Depots et Consignations (France), the Bank Nederlandse Gemeenten (Netherlands), the Zuercher Kantonalbank (Switzerland), the Landwirtschaftliche Rentenbank (Germany) and the Rabobank Group (Netherlands). Likewise, there are six banks with subsidiaries in Chile: Santander (14°), HSBC (19°), Scotiabank (22°), Deutsche Bank (39°) and JP Morgan (40°).
Global Finance is a monthly magazine founded in 1987, which mission is helping heads of enterprises, bankers and investors to set out the path of their business and worldwide finances.