Global Finance recently announced the Safest Banks in Asia and this year’s top 10 is unchanged for the fourth year straight, with Singaporean banks taking the top three position again. The banks are selected through an evaluation of long-term foreign currency ratings – from Moody’s, Standard & Poor’s and Fitch – of the 500 largest banks worldwide.
Oversea-Chinese Banking Corp.
Being the longest established Singapore bank, it is now the second largest financial service group in Southeast Asia by assets and one of the world’s most highly-rated banks. OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals. Its insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. OCBC Banks’s asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.
DBS Bank
Being the longest established Singapore bank, it is now the second largest financial service group in Southeast Asia by assets and one of the world’s most highly-rated banks. OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals. Its insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. OCBC Banks’s asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.
United Overseas Bank
United Overseas Bank was founded in 1935 as United Chinese Bank by a group of businessmen led by Wee Kheng Chiang. UOB was formed on Asian principles of prudence, enterprise and determination that have fostered its growth and stability for more than 80 years. The bank was rated World’s Best Bank for SMEs 2021 and Asia’s Best Bank for SMEs 2021 by Euromoney.
Korea Development Bank
Headed by chairman Lee Dong-gull, Korea Development Bank was founded in 1954 and it is a wholly state-owned policy development bank in South Korea. It was founded with the mission of establishing and fostering the national economy, industries and infrastructure, financial and corporate system. KDB Bank has been acting as the primary supporter of public finances and corporate sector and has continuously broadening its business scope and gained expertise in the fields of development finance, corporate banking and corporate structure development. The bank has branches globally. It has a branch in London, two subsidiaries in Hungary and Ireland and a representative office in Frankfurt, Germany.
Export-Import Bank of Korea
The Export-Import Bank of Korea, or commonly known as Korea Eximbank is an official export credit agency providing comprehensive export loan and guarantee programs to support Korean enterprises conducting business overseas. Korea Eximbank’s primary services include Export Financing, Trade Financing, and Guarantee programs structured to meet the needs of clients in a direct effort to both complement and strengthen clients’ competitiveness in global markets. The bank also provides Overseas Investment Financing, Import Financing, and Financial Advisory and Structuring Services geared to maximizing business opportunities abroad.
Industrial Bank of Korea
Industrial Bank of Korea is a state-owned bank which was established to promote small and medium-sized businesses and improve their economic status by providing an efficient credit system. In recent years, the bank has extended is expertise to provide a comprehensive range of financial services to individual customer while maintaining the traditional role in facilitating the nation’s economic development. The bank has 12 overseas branches located in Cambodia, China, Hong Kong, India, Indonesia, Japan, Myanmar, Philippines, the United Kingdom, the United States and Vietnam.
Hang Seng Bank
Hang Seng Bank’s major business activities comprise wealth and personal banking, commercial banking, and global banking and markets. In Hong Kong, it has about 290 service outlets to provide customers with quality service. The bank operates a network of outlets in almost 20 major cities in mainland China as well as branches in Macau and Singapore, and a representative office in Taipei.
Bank of Taiwan
Bank of Taiwan is a commercial bank owned by the government of Taiwan. The bank provides business and individual banking services by offering deposits taking, loans, credit card services and foreign exchange services. It primarily serves consumers domestically throughout Taiwan.
China Development Bank
The bank is a policy financial institution under the direct leadership of the State Council of China. CDB has 421.248 billion RMB in registered capital and its major shareholders are the Ministry of Finance of China, which hold 36.54 percent of its total shares. The bank mainly engaged in medium and long-term lending and investment to support the implementation of major strategies for medium and long-term development of China’s national economy.
Agricultural Development Bank of China
Agriculture Development Bank of China is a Chinese policy bank under the State Council of the People’s Republic of China and it is responsible for funding projects related to China’s economic growth. The bank’s aim is to build an agriculture policy bank with a specified position, well-performed functions, clearly-defined business lines, adequate capital, sound management, strict internal control, safe operation, quality service and sustainable development.
