Of Special Interest
4th May 2012
OCBC ranked strongest bank in world - again
Oversea-Chinese Banking Corporation has been ranked the strongest bank in the world by Bloomberg for the second year in succession. The ranking was of 78 banks with assets in excess of US$100bn as of mid March 2012. The process involved using weighted criteria which included the banks Tier 1 capital ratio, ratio of non-performing assets to total assets, ratio of reserves for loan losses to non-performing assets, ratio of deposits to funding and efficiency ratio. The banks were scored on each criterion and the scores of each bank were totaled. The overall score achieved by a bank determined its position in the ranking where banks with a lower score were ranked higher on the list.
Mr Samuel Tsien, CEO of OCBC Bank, said, "We are pleased to be ranked as the World’s Strongest Bank by Bloomberg Markets for the second time. It is an accolade that is only made possible because of the loyal support of our customers and the dedication of our employees. Being so recognised for a second consecutive year affirms the strength of our customer franchise, which has been built on product innovation, quality and differentiated customer experience, as well as our disciplined credit management practices and robust risk management capabilities. The solid foundation that we have established puts us in good stead to reach an even higher level of accomplishment.”
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now 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.