SINGAPORE - OCBC Bank was ranked third-strongest bank in the world, behind Hong Kong's Hang Seng and Japan's Norinchukin Bank in the ranking by Bloomberg Markets magazine released on Thursday (Jul 30).
Two other local banks also make the top 10 list, with DBS Group at 9th and United Overseas Bank (UOB) at 10th, according to the press release by Bloomberg.
To identify the world's strongest banks, Bloomberg evaluated public and private banks with total assets of US$100 billion or more as of Jun 1 and they were examined in five categories, such as the ratio of the bank's Tier 1 capital to its risk-weighted assets and efficiency ratio.
Hang Seng is benefiting from the rising wealth in Hong Kong and mainland China, Bloomberg said, and this has helped it top the list for the second year in a row.
In total, 114 banks worldwide were ranked; 13 of them are private.
- CNA
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