The Global Finance magazine has announced this year’s winners for the best banks in 24 developed countries. Ireland and Iceland were left out from this contest.
As per the editors of this magazine “The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished better results while laying the foundations for future success. ” These banks were selected based on both objective and subjective factors.
The Objective factors used were:
- Growth in assets
- Profitability
- Geographic reach
- Strategic relationships
- New business development
- Innovation in products
The Subjective factors used were:
The Opinions of-
- Equity analysts
- Credit rating analysts
- Banking consultants
- Others involved in the industry
The Best Banks in the Developed Markets for 2009 are listed below. If the bank trades in the US, the ticker and current yield is shown.
A) North America
Bermuda – Butterfield Bank
Canada – Scotiabank (BNS)
Current Yield: 8.06%
United States – J.P. Morgan Chase(JPM)
Current Yield: 7.64%
B) Europe
Austria – Bank Austria
Belgium – KBC Group
Denmark – Danske Bank(OTC: DNSKY)
Current Yield: 26.14%
Finland – Pohjola Bank
France – BNP Paribas(OTC: BNPQY)
Current Yield: 17.57%
Germany – Commerzbank (OTC: CRZBY)
Current Yield: 42.09%
Greece – Eurobank EFG
Italy – Intesa Sanpaolo (OTC: ISNPY)
Current Yield: 25.54%
Luxembourg – Banque et Caisse dargne de lEtat
Netherlands – Rabobank
Norway – DnB Nor
Portugal – Banco Espirito Santo
Spain – Banco Santander(SAN)
Current Yield: 20.90%
Sweden – Handelsbanken
Switzerland – Credit Suisse (CS)
Current Yield: 9.98%
United Kingdom – HSBC (HBC)
Current Yield: 10.44%
C) Asia/Pacific and Middle East
Australia – Commonwealth Bank of Australia
Hong Kong – HSBC (HBC)
Current Yield: 10.44%
Israel – Mizrahi Tefahot Bank
Japan – Resona Holdings
Singapore – United Overseas Bank (OTC: UOVEY)
Current Yield: 4.26%
The original press release from Global Finance magazine can be found here.
Disclosure: Long BNS, STD, DNSKY
