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No UK banks in top 10 global ‘safe’ list

by: IFAonline
  • 13/09/2010
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No UK banks in top 10 global ‘safe’ list
HSBC, Barclays and Nationwide are the only British institutions to register in Global Finance's list of the world's 50 safest banks but no UK names appear in the top 10.

The annual report highlights concerns over risk-taking and the amount of capital held by banks in the wake of the financial crisis, the Guardian reports.

HSBC is the highest-ranking UK bank in the survey with a market cap of $112bn (£73bn) but it slipped one place from last year to 19th position.

Barclays is at number 34 while Nationwide, the UK’s largest building society, made 46th place.

According to the report, UK depositors looking for the safest home for their money should head for the Clydesdale or Yorkshire banks, which are owned by the 11th-ranked National Australia Bank.

Number 14 in the top 50 is Banco Santander which has taken over Alliance & Leicester, Bradford & Bingley and Abbey.

French, Dutch and German banks grab most of the top slots in the Global Finance survey.

The safest bank is KfW of Germany, followed by Caisse des Dépôts et Consignations (CDC) of France and Bank Nederlandse Gemeenten (BNG) of the Netherlands.

 

 

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