Local banks DBS, Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB) have been listed as some of the top 20 safest banks according to the latest survey by Global Finance magazine.
DBS ranked 12th, while OCBC and UOB placed directly behind at 13th and 14th positions respectively. This effectively ranks all three Singaporean banks as the safest in Asia, as the rest of the list is populated by western banks. According to Global Finance, German bank KfW is the world’s safest bank in 2014.
The magazine explains the selection methodology used in their rankings for World’s Safest Banks in the video below:
Photo: Wikimedia Commons
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