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Take a look at Asia's safest banks

Last updated on: March 26, 2012 09:16 IST

Take a look at Asia's safest banks

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In an economic scenario where everything is topsy-turvy, the words 'safe' and 'banks' may not go so well with investors. It's natural for you to raise the questions – Are banks really safe? Which are the safest banks around?

Global Finance, a part of leading Italian finance and lifestyle media company, has named the top 10 Safest Banks In Asia.

The banks were selected through a comparison of the long-term credit ratings and total assets of the region's largest banks. Ratings from Moody's, Standard & Poor's and Fitch Ratings were used.

"More than ever, customers around the world are viewing long-term creditworthiness as the key feature of the banks with which they do business," says Joseph D. Giarraputo, publisher of Global Finance. "These banks have solid capital positions and superior risk management capabilities."

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Name: DBS Bank
Country: Singapore
Rank: 1

Headquartered and listed in Singapore, DBS is a leading financial services group in Asia, with over 200 branches across 15 markets.

In India, DBS is based in Mumbai, and operates via a network of 12 bank branches -- Bengaluru, Chennai, Cuddalore, Kolkata, Kolhapur, Moradabad, Mumbai, Nashik, New Delhi, Pune, Salem and Surat.

DBS' tryst with India began in 1994 when it started its operations via a representative office in Mumbai, which was quickly upgraded to a formal bank branch a year later.

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Tags: DBS , Mumbai , Asia , India

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Name: Oversea-Chinese Banking Corporation
Country: Singapore
Rank: 2

OCBC is the second largest financial services group in Southeast Asia by assets and one of the world's most highly-rated banks, with an Aa1 rating from Moody's. It was also ranked by Bloomberg Markets as the world's strongest bank.

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Photographs: Reuters

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Name: United Overseas Bank
Country: Singapore
Rank: 3

United Overseas Bank Limited (UOB) is a leading bank in Asia. It provides a wide range of financial services through its global network of more than 500 offices in 19 countries and territories in Asia Pacific, Western Europe and North America.

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Name: China Development Bank
Country: China
Rank: 4

The China Development Bank (CDB) is a financial institution in the People's Republic of China (PRC) under the direct jurisdiction of the State Council.

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Photographs: Reuters

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Name: Agricultural Development Bank of China
Country: China
Rank: 5

Agricultural Development Bank of China, a state-owned agricultural policy bank, primarily provides lending services to the agriculture sector in China.

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Photographs: Stringer/Reuters

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Name: Bank of Taiwan
Country: Taiwan
Rank: 6 (tie)

Bank of Taiwan was established on May 20, 1946 as the first government-owned bank following the island's restoration to the Republic of China in 1945. During its formative years, the BOT managed the business of the national treasury, issued currency in the Taiwan area, and carried out many of the functions of a central bank.

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Photographs: Nicky Loh/Reuters

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Name: Shizuoka Bank
Country: Japan
Rank: 6 (tie)

The Shizuoka Bank Group comprises Shizuoka Bank and 12 Group companies, and is one of the largest regional banking groups in Japan. Centered on Shizuoka Bank with its 168 branches and 23 sub-branches, the Group serves the needs of customers not only within Shizuoka Prefecture, its home region, but also three major economic centers in Japan, namely Tokyo, Osaka, and Nagoya, all of which are comparatively nearby. For overseas operation, the Bank operates in New York, Los Angeles, Brussels, Hong Kong, Shanghai, and Singapore.

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Name: Bank of Tokyo-Mitsubishi UFJ
Country: Japan
Rank: 8

The Bank of Tokyo-Mitsubishi UFJ is the largest bank in Japan. It was established on January 1, 2006, with the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. The bank serves as the core retail and commercial banking arm of the Mitsubishi UFJ Financial Group. It was ranked by Bloomberg as the largest bank in Japan and the eighth largest in the world.

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Image: Reuters


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Name: Sumitomo Mitsui Banking Corporation
Country: Japan
Rank: 9

Sumitomo Mitsui Banking Corporation is based in Yurakucho, Chiyoda, Tokyo. It is a member of the Sumitomo Group and Mitsui Group. As of the year 2009, SMBC was the second largest bank in Japan in terms of assets.

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Photographs: Yuriko Nakao/Reuters

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Name: Shinkin Central Bank
Country: Japan
Rank: 10

They are cooperative regional financial institutions serving small and medium enterprises and local residents. Anyone who lives, works, or has an office in the region served by the bank can become a member.

The Shinkin Central Bank serves as the central bank for the Shinkin banks. It was founded in 1951.

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Image: Shinkin Central Bank
Photographs: Courtesy, Shinkin Central Bank

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Name: Korea Finance Corporation
Country: Korea
Rank: 11

Korea Finance Corporation operates as a financing company in South Korea. It provides finance to small and medium enterprises. The company also supports the structural enhancement of the financial industry. Korea Finance Corporation was founded in 2009 and is based in Seoul, South Korea. The company operates as a subsidiary of Ministry of Strategy and Finance.

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