OCBC tops Forbes ‘World’s Top Performing Banks’ list, DBS in second
The two Singapore banks take the top two spots among global banks in the inaugural version of the list
Add BT as a preferred source
[SINGAPORE] OCBC and DBS took the top two places among global banks in the inaugural “World’s Top Performing Banks” list, developed by Forbes and Statista.
The new ranking evaluates financial data from data providers such as S&P, desk research and data submissions from banks, said Forbes on Friday (Sep 11).
To make the list, financial institutions were required to be licensed deposit-taking banks with a core business that includes lending to retail or corporate clients and have more than US$3 billion in assets, among other factors.
The banks were then evaluated across profitability, growth and earnings quality, capital and funding resilience and asset quality and efficiency. The factors were weighted at 30 per cent, 20 per cent, 25 per cent and 25 per cent, respectively.
Metrics like net interest margin, customer deposit growth indicators (over three-year periods), loan-to-deposit ratio and credit quality were used to evaluate the four factors.
Tier 1, or global banks such as OCBC and DBS included those with more than US$500 billion in total assets.
A total of 500 banks from 89 countries made the list across six tiers overall, with OCBC and DBS being the only ones from Singapore.
They ranked above banking giants such as JPMorganChase, which came in fifth and China Merchants Bank, which was fourth. One bank from Hong Kong was in the list, 26 hailed from mainland China and 17 were in India.
Among the Asean nations, six were based in Indonesia, seven from Thailand, eight from Malaysia, eight in the Philippines and 12 from Vietnam.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
