Swiss banks are no longer the most reliable

Swiss banks are no longer the most reliable

Global Finance magazine has conducted a survey and found the most reliable banks in the world. Contrary to popular belief in the exceptional reliability of Swiss banks there is only one financial-credit institution from this country in the top 50, reports portal ee24.com.

The first place in the prestigious ranking was given to the German bank Kreditanstalt für Wiederaufbau (KfW), the second line goes to Dutch Bank Nederlandse Gemeenten (BNG) and only the third position went to Zurich cantonal bank, which is the only one Swiss bank in top 50 .

The rankings measured the ratio of assets to the size of the bank and also the rating of  the bank by  Standard & Poor's, Fitch and Moody's.

Tellingly, the three leaders remain unchanged for several years. Most of the list consists from the European banks, and the first ten is made up of German, Dutch, Swiss, French and Luxembourg banks. However, the representation of banks in France has dropped significantly in recent years. In the current ranking there is only one - Caisse des dépôts et consignations (CDC), located on the 7th place.

It is interesting that the two largest Swiss banks - UBS and Crédit Suisse are no longer included in the rating since 2009 and 2011, respectively. However, even before the major Swiss banks did not reach the heights in the ranking of Global Finance. In 2009, UBS was only at the 40th place, and Crédit Suisse was located the three steps below.