Global Finance magazine, one of the most noted international publications, shortlisted in its first mid-year update, a top of the 50 safest banks in the world, due to the wrenching financial crisis engulfing the global economic market.
The hierarchy was made based on a comparison of the long-term credit ratings and total assets of the world’s 500 largest banks across the world. The publication took into account the ratings established by Standard&Poor’s, Moody’s and Fitch.
Société Générale (31st position), the third French bank, Italian bank Intesa Sanpaolo (32) and La Caixa (24), Spain’s largest saving bank, are the only banking groups included in the ranking that hold subsidiaries in the Romanian market.
French-based Credit Agricole, (20) is indirectly active in Romania through its subsidiary, Emporiki Bank.
The number of players in Romanian banking scene has risen in last quarter 2008, from 42 to 43, with Depfa Bank taking its first step in the local industry in December.
At the end of September 2008, 42 banks were running operations in Romanian market, of which 6 have own capital (CEC Bank, Banca Transilvania, EximBank, Banca Comerciala Carpatica, Libra Bank and CreditCoop), the rest having foreign capital.
Country/Bank
1. Germany - KfW
2. France - Caisse de Depots et Consignations
3. Netherlands - Bank Nederlands Gemeenten (BNG)
4. Germany - Landwirtschaftliche Rentenbank
5. Netherlands - Rabobank
6. Germany - Landeskreditbank Baden-Wuerttemberg-Foerderbank
7. Germany - NRW. Bank
8. France - BNP Paribas
9. Spain - Banco Santander
10. Canada - Royal Bank of Canada
11. Australia - National Australia Bank
12. Australia - Commonwealth Bank of Australia
13. Spain - Banco Bilbao Vizcaya Argentaria (BBVA)
14. Canada - Toronto-Dominion Ba
