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четверг, 26 ноября 2015 г.

Biggest Emerging Markets Banks 2015



ANDREW CUNNINGHAM

It is not even close: The 12 largest emerging markets banks in the world are Chinese.

A BIG COUNTRY WITH BIG BANKS

China’s increasing prominence on the world financial stage has been proven yet again: Of the 50 biggest emerging markets banks in this year’s ranking, the top 12 are all Chinese. The biggest of the big is Industrial and Commercial Bank of China, which boasts assets of $3,368 billion. That total also qualifies ICBC as the largest bank in the world—even when compared with developed market financial institutions.
In all, 19 Chinese banks make Global Finance’s list of the 50 biggest emerging markets banks, ranked by 2014 asset size. That’s the same number as last year.
The combined assets of the 19 banks was $20,145 billion, up 13% from 2013. In contrast, the combined assets for non-Chinese banks in the Biggest 50 list declined slightly, down to $6,585 billion.
The biggest emerging markets bank in the world that doesn’t happen to be Chinese is Banco do Brasil, with $481 billion in assets as of the end of 2014. Sberbank of Russia is next, with $448 billion.
There are five new entries on this year’s list: CTBC Bank and Mega International Commercial Bank, both from Taiwan; National Bank of Abu Dhabi; India’s Punjab National Bank; and Malaysia’s Public Bank. The five who fall out of the list are Vnesheconombank and Gazprombank, both of Russia; Taishin Financial Holding, of Taiwan; Standard Bank of South Africa; and Korea Finance Corporation, which is not included because it merged with Korea Development Bank in December. As a result of the tie-up, Korea Development Bank’s assets grew by 60%, moving KDB up 11 places to become the 25th-largest emerging markets bank in the world.
South Korea contributes eight of the world’s 50 largest emerging markets banks, and Taiwan contributes three. When combined with Chinese banks, these three Asian countries contribute 30 of the biggest 50.
Six banks from Brazil make the list, four from India and three from Turkey. Malaysia and Russia each have two banks in the ranking.

BIGGEST EMERGING MARKETS BANKS 201­5

Rank
Bank
Country
Total Assets
USD Mln
1
Industrial and Commercial Bank of China
China
3,368,190
2
China Construction Bank
China
2,736,416
3
Agricultural Bank of China
China
2,610,582
4
Bank of China
China
2,492,463
5
China Development Bank
China
1,685,954
6
Bank of Communications
China
1,024,399
7
China Merchants Bank
China
773,301
8
Industrial Bank (China)
China
720,118
9
Shanghai Pudong Development Bank
China
685,721
10
China Citic Bank
China
676,387
11
China Minsheng Bank
China
656,175
12
Agricultural Development Bank of China
China
513,517
13
Banco do Brasil
Brazil
481,299
14
Sberbank
Russia
447,947
15
China Everbright Bank
China
447,297
16
State Bank of India
India
431,391
17
Itaú Unibanco
Brazil
424,463
18
Caixa Econômica Federal
Brazil
400,920
19
Export-Import Bank of China
China
386,953
20
Ping An Bank
China
352,427
21
Banco Bradesco
Brazil
350,373
22
BNDES
Brazil
330,328
23
Hua Xia Bank
China
302,603
24
China Guangfa Bank
China
269,334
25
Korea Development Bank
South Korea
252,231
26
KB Kookmin Bank
South Korea
250,572
27
Bank of Beijing
China
249,132
28
Woori Bank
South Korea
245,754
29
Shinhan Bank
South Korea
232,554
30
VTB Bank
Russia
216,693
31
Industrial Bank of Korea
South Korea
199,910
32
Banco Santander Brasil
Brazil
195,888
33
Bank of Shanghai
China
194,060
34
Nonghyup Financial Group
South Korea
192,531
35
Maybank
Malaysia
183,205
36
Hana Financial Group
South Korea
156,877
37
Bank of Taiwan
Taiwan
146,756
38
Qatar National Bank
Qatar
133,614
39
ICICI Bank
India
131,981
40
Türkiye Is Bankasi
Turkey
118,818
41
Bank of Baroda
India
117,266
42
National Commercial Bank
Saudi Arabia
115,967
43
Ziraat Bankası
Turkey
109,009
44
CTBC Bank
Taiwan
107,839
45
Garanti Bank
Turkey
106,442
46
National Bank of Abu Dhabi
UAE
102,409
47
Korea Exchange Bank
South Korea
102,192
48
Punjab National Bank
India
101,614
49
Mega International Commercial Bank
Taiwan
99,167
50
Public Bank (Malaysia)
Malaysia
98,919
Source for asset figures: Fitch Solutions

Top 50 Safest Global Banks 2015


ANDREW CUNNINGHAM

With financial markets strengthening in most quarters, a stellar credit rating—not just a solid one—is now required to gain a place on our list of the World’s Top 50 Safest Global Banks.

A CUT ABOVE

One thing became clear early on when determining this year’s ranking of the World’s Safest Banks: It is getting a lot harder to make the grade.
To be named one of Global Finance’s 50 safest banks in 2015, financial institutions must hold two credit ratings of at least AA- and one no lower than A+—or an equivalent combination—from among the three major international credit ratings agencies. By comparison, a single AA- rating and two A+ ratings got you on the list in 2014. In years before that, three A+ ratings were enough to secure a position in the top 50.
The loftier standards are mostly due to a raft of rating upgrades, often from Moody’s. Norway’s DNB, for one, received a two-notch upgrade from Moody’s in June 2015, vaulting the bank into 39th spot on the list. Likewise, Liechtenstein’s LGT Bank received a two-notch upgrade from Moody’s in May, pushing the bank to 49th position in the rankings. In both cases, the upgrades were prompted by revisions to Moody’s
bank-rating methodology.
Higher up the ranking, however, familiar names continue to dominate. Germany’s KfW, with assets of $594 billion, retains its crown as the safest bank in the world, with AAA ratings from Moody’s, Fitch and Standard & Poor’s. Three other banks hold three AAA ratings—and their positions on the list as well. Switzerland’s Zürcher Kantonalbank once again comes in at number two. German bank Landwirtschaftliche Rentenbank ranks third. L-Bank (for Landeskreditbank Baden-Württemberg - Förderbank), also headquartered in Germany, is fourth on the list.
In contrast, two financial institutions cracked the Top 50 for the first time. Swiss bank Pictet & Cie enters the ranking (at number 24) for the first time. The bank has not been eligible for inclusion in the past owing to its lack of financial disclosure. Just coming up with an accurate figure for the bank’s year-end assets can be difficult. During the second half of 2014, however, Pictet  & Cie began issuing financial statements as a result of a change in its legal structure to a limited liability company.
Germany’s Deutsche Apotheker- und Ärztebank also enters the ranking for the first time this year, at number 23. The bank was ineligible for inclusion in previous years because of its small asset base. Similarly, Kiwibank reenters the ranks of the Safest 50 this year (number 32). The New Zealand financial institution was excluded from consideration in the two previous years because of insufficient assets. Banque Cantonale Vaudoise is the biggest mover in this year’s ranking of safest banks. The Swiss bank leaped 29 places to number 15—following a two-notch upgrade from Moody’s in May. Germany’s DZ Bank climbed 25 points to number 21 after receiving a two-notch upgrade from Moody’s in June and a one-notch upgrade from Fitch in March. Both of Moody’s rating actions were prompted by its revamped rating methodology, which, among other things, factors in the value of support from shareholders and parent companies.
The biggest casualty in 2015 was HSBC. The UK-based bank ranked 27th in 2014. But it fell out of the rankings this year after ratings downgrades from Moody’s and Standard & Poor’s. BNY Mellon, U.S. Bancorp and Saudi Arabia’s Samba Financial Group also dropped out of the top 50, despite holding the same ratings as they did last year. With bank credit-worthiness on the rise, a score of 19 points no longer makes the grade.

EUROPEAN BANKS DOMINATE

European banks account for 22 of the World’s 50 Safest Banks, up from 19, last year.
In fact, European banks that are government-owned—or have ties to state or regional authorities—occupy the first nine places on the list. But France’s
state-owned Société de Financement Local (SFIL), which placed 10th in 2014, dropped four places to number 14 in this year’s ranking, following a downgrade by Fitch in December.
As a result, TD Bank Group moves to 10th position. With the bump-up, the Canadian company takes the honor for the highest-ranked private-sector bank in the top 50. All told, six banks from Canada make the list.
Ten companies from Asia scored high enough to secure a place in the ranking—three each from China, South Korea and Singapore, along with Hong Kong’s Hang Seng Bank. No Japanese bank makes the list. Four financial institutions from Australia are in the top 50, led by National Australia Bank at number 17. Kiwibank is the sole bank from New Zealand deemed by Global Finance to be among the world’s safest.
Three banks from the Gulf  States feature among the Safest 50. But no banks from other Middle Eastern countries or sub-Saharan Africa appear on the list. Only three banks from the United States feature in the ranking. And BancoEstado from Chile, at 48th, is the sole representative from Latin America. To be eligible for inclusion in Global Finance’s World’s Safest Banks, financial institutions must be among the largest 500 banks in the world, ranked by assets, and they must be rated by at least two of the three international credit-rating agencies. Eligible banks are then scored, with 10 points being awarded for an AAA rating down to one point for a BBB- rating. If a bank is rated by only two of the agencies, an implied score for the third rating is created. The figure is calculated by taking the average of the other two scores and then deducting one point. Banks that are wholly owned by other banks are not eligible for inclusion. Banks that score the same number of points are ranked in order of asset size. That approach underscores the strong positive correlation between bank size and high credit ratings.
METHODOLOGY | BEHIND THE RANKINGS

Our ratings apply to the world’s largest 500 banks by asset size. We calculate the rankings based on the long-term foreign currency ratings issued by Fitch Ratings, Standard & Poor’s and Moody’s Investors Service. Where possible, ratings on holding companies rather than operating companies were used, and banks that are wholly owned by other banks were omitted. Within each rank set, banks are organized according to asset size based on data for the most recent annual reporting period provided by Fitch Solutions and Moody’s. Ratings are reproduced with permission from the three rating agencies, with all rights reserved. A rating is not a recommendation to purchase, sell or hold a security, and it does not comment on market price or suitability for a particular investor.

Fitch Ratings / Standard & Poor's

Moody's

AAA
Aaa
AA+
Aa1
AA
Aa2
AA-
Aa3
A+
A1
A
A2
A-
A3

World’s Safest Banks 2015 Top 50

Rank
Bank
Fitch
Moody’s
S&P
Total Score
Reporting Assets $mn
Country
1
KfW
AAA
Aaa
AAA
30
593,750
Germany
2
Zürcher Kantonalbank
AAA
Aaa
AAA
30
160,137
Switzerland
3
Landwirtschaftliche Rentenbank
AAA
Aaa
AAA
30
107,862
Germany
4
L-Bank
AAA
Aaa
AAA
30
84,680
Germany
5
Bank Nederlandse Gemeenten
AA+
AAA
AA+
28
186,360
Netherlands
6
Nederlandse Waterschapsbank
N/R
Aaa
AA+
27.5
85,718
Netherlands
7
NRW.BANK
AAA
Aa1
AA-
26
172,459
Germany
8
Caisse des Dépôts et Consignations
AA
Aa1
AA
25
197,337
France
9
Banque et Caisse d’Epargne de l’Etat
N/R
Aa2
AA+
24.5
49,868
Luxembourg
10
TD Bank Group*
AA-
Aa1
AA-
23
837,909
Canada
11
DBS Bank
AA-
Aa1
AA-
23
333,510
Singapore
12
Oversea-Chinese Banking Corp
AA-
Aa1
AA-
23
303,660
Singapore
13
United Overseas Bank
AA-
Aa1
AA-
23
232,147
Singapore
14
Société de Financement Local (SFIL)
AA-
Aa2
AA
23
106,867
France
15
Banque Cantonale Vaudoise
N/R
Aa2
AA
23
42,256
Switzerland
16
Royal Bank of Canada*
AA
Aa3
AA-
22
834,191
Canada
17
National Australia Bank**
AA-
Aa2
AA-
22
773,062
Australia
18
Commonwealth Bank of Australia***
AA-
Aa2
AA-
22
745,527
Australia
19
ANZ Group**
AA-
Aa2
AA-
22
675,733
Australia
20
Westpac**
AA-
Aa2
AA-
22
674,639
Australia
21
DZ Bank
AA-
Aa2
AA-
22
488,701
Germany
22
Svenska Handelsbanken
AA-
Aa2
AA-
22
364,072
Sweden
23
Deutsche Apotheker-
und Ärztebank
AA-
Aa2
AA-
22
42,645
Germany
24
Pictet & Cie
AA-
Aa2
N/R
21.5
34,519
Switzerland
25
Rabobank
AA-
Aa2
A+
21
826,862
Netherlands
26
Nordea
AA-
Aa3
AA-
21
812,604
Sweden
27
Bank of Nova Scotia*
AA-
Aa2
A+
21
714,560
Canada
28
Hang Seng Bank
A+
Aa2
AA-
21
162,980
Hong Kong
29
National Bank
of Abu Dhabi
AA-
Aa3
AA-
21
102,409
UAE
30
AgriBank
AA-
Aa3
AA-
21
94,425
United States
31
Caisse centrale Desjardins
AA-
Aa2
A+
21
38,213
Canada
32
Kiwibank
AA
Aa3
A+
21
14,634
New Zealand
33
China Development Bank
A+
Aa3
AA-
20
1,685,954
China
34
Sparkassen-Finanzgruppe (Sparkasse)
A+
Aa2
N/R
20
1,523,129
Germany
35
Bank of Montreal*
AA-
Aa3
A+
20
522,092
Canada
36
Agricultural Development
Bank of China
A+
Aa3
AA-
20
513,517
China
37
Export-Import Bank of China
A+
Aa3
AA-
20
386,953
China
38
CIBC*
AA-
Aa3
A+
20
367,985
Canada
39
DNB
N/R
Aa2
A+
20
356,573
Norway
40
Korea Development Bank
AA-
Aa3
A+
20
252,231
South Korea
41
HSBC France
AA-
A1
AA-
20
244,043
France
42
Industrial Bank of Korea
AA-
Aa3
A+
20
199,910
South Korea
43
Pohjola Bank
A+
Aa3
AA-
20
134,062
Finland
44
Qatar National Bank
AA-
Aa3
A+
20
133,614
Qatar
45
CoBank
AA-
N/R
AA-
20
107,428
United States
46
National Bank of Kuwait
AA-
Aa3
A+
20
74,399
Kuwait
47
Export-Import Bank of Korea
(KEXIM)
AA-
Aa3
A+
20
66,952
South Korea
48
BancoEstado
A+
Aa3
AA-
20
46,291
Chile
49
LGT Bank
N/R
Aa2
A+
20
31,031
Liechtenstein
50
AgFirst
AA-
N/R
AA-
20
29,503
United States
Source for ratings: Fitch Ratings, Standard & Poor’s, Moody’s Investors Service 
Source for Reporting Assets: Fitch Solutions   
Statement Ratings current as of 12/31/14
*Statement Ratings current as of 10/31/14
**Statement Ratings current as of 9/30/14
***Statement Ratings current as of 6/30/14

North America

Rank
Bank
Fitch
Moody’s
S&P
Total Score
Reporting Assets $mn
Country
1
TD Bank Group*
AA-
Aa1
AA-
23
837,909
Canada
2
Royal Bank of Canada*
AA
Aa3
AA-
22
834,191
Canada
3
Bank of Nova Scotia*
AA-
Aa2
A+
21
714,560
Canada
4
AgriBank
AA-
Aa3
AA-
21
94,425
United States
5
Caisse centrale Desjardins
AA-
Aa2
A+
21
38,213
Canada
6
Bank of Montreal*
AA-
Aa3
A+
20
522,092
Canada
7
CIBC*
AA-
Aa3
A+
20
367,985
Canada
8
CoBank
AA-
N/R
AA-
20
107,428
United States
9
AgFirst
AA-
N/R
AA-
20
29,503
United States
10
U.S. Bancorp
AA-
A1
A+
19
402,529
United States
Statement Ratings current as of 12/31/14
*Statement Ratings current as of 10/31/14
**Statement Ratings current as of 9/30/14
***Statement Ratings current as of 6/30/14

Western Europe

Rank
Bank
Fitch
Moody’s
S&P
Total Score
Reporting Assets $mn
Country
1
KfW
AAA
Aaa
AAA
30
593,750
Germany
2
Zürcher Kantonalbank
AAA
Aaa
AAA
30
160,137
Switzerland
3
Landwirtschaftliche Rentenbank
AAA
Aaa
AAA
30
107,862
Germany
4
L-Bank
AAA
Aaa
AAA
30
84,680
Germany
5
Bank Nederlandse Gemeenten
AA+
Aaa
AA+
28
186,360
Netherlands
6
Nederlandse Waterschapsbank
N/R
Aaa
AA+
27.5
85,718
Netherlands
7
NRW.BANK
AAA
Aa1
AA-
26
172,459
Germany
8
Caisse des Dépôts et Consignations
AA
Aa1
AA
25
181,803
France
9
Banque et Caisse d’Epargne de l’Etat
N/R
Aa2
AA+
24.5
49,868
Luxembourg
10
Société de Financement Local (SFIL)
AA-
Aa2
AA
23
106,867
France
Statement Ratings current as of 12/31/14
*Statement Ratings current as of 10/31/14
**Statement Ratings current as of 9/30/14
***Statement Ratings current as of 6/30/14

Central & Eastern Europe

Rank
Bank
Fitch
Moody’s
S&P
Total Score
Reporting Assets $mn
Country
1
Komerční banka
A-
A2
A
14
41,747
Czech Republic
2
Česká spořitelna
A-
A2
A-
13
39,528
Czech Republic
3
Bank Pekao
A-
A2
BBB+
12
47,795
Poland
4
PKO Bank Polski
N/R
A2
BBB+
11
70,911
Poland
5
ING Bank Śląski
A-
A3
N/R
11
28,473
Poland
6
Bank Zachodni WBK
BBB+
A3
N/R
9.5
38,350
Poland
7
mBank
BBB-
Baa2
BBB
5
33,641
Poland
8
Banca Comercială Română
BBB
Ba1
N/R
0.5
16,715
Romania
Statement Ratings current as of 12/31/14
*Statement Ratings current as of 10/31/14
**Statement Ratings current as of 9/30/14
***Statement Ratings current as of 6/30/14

Latin America

Rank
Bank
Fitch
Moody’s
S&P
Total Score
Reporting Assets $mn
Country
1
BancoEstado
A+
Aa3
AA-
20
46,291
Chile
2
Banco de Chile
N/R
Aa3
A+
18.5
45,517
Chile
3
Banco Santander Chile
A+
Aa3
A
18
50,272
Chile
4
Banco de Crédito e Inversiones
A-
A1
A
15
39,297
Chile
5
HSBC México
A
A3
BBB+
12
40,444
Mexico
6
Scotiabank Perú
A-
A3
BBB+
11
15,742
Peru
7
Banobras
BBB+
A3
BBB+
10
38,871
Mexico
8
Banco de Crédito BCP
A-
Baa1
BBB+
10
38,744
Peru
9
Banco Nacional
de Comercio Exterior
BBB+
A3
BBB+
10
17,877
Mexico
10
Banco Santander (Mexico)
BBB+
A3
N/R
9.5
63,639
Mexico
Statement Ratings current as of 12/31/14
*Statement Ratings current as of 10/31/14
**Statement Ratings current as of 9/30/14
***Statement Ratings current as of 6/30/14

Asia

Rank
Bank
Fitch
Moody’s
S&P
Total Score
Reporting Assets $mn
Country
1
DBS Bank
AA-
Aa1
AA-
23
333,510
Singapore
2
Oversea-Chinese Banking Corp
AA-
Aa1
AA-
23
303,660
Singapore
3
United Overseas Bank
AA-
Aa1
AA-
23
232,147
Singapore
4
Hang Seng Bank
A+
Aa2
AA-
21
162,980
Hong Kong
5
China Development Bank
A+
Aa3
AA-
20
1,685,954
China
6
Agricultural Development Bank of China
A+
Aa3
AA-
20
513,517
China
7
Export-Import Bank of China
A+
Aa3
AA-
20
386,953
China
8
Korea Development Bank
AA-
Aa3
A+
20
252,231
South Korea
9
Industrial Bank of Korea
AA-
Aa3
A+
20
199,910
South Korea
10
Export-Import Bank of Korea (KEXIM)
AA-
Aa3
A+
20
66,952
South Korea
Statement Ratings current as of 12/31/14
*Statement Ratings current as of 10/31/14
**Statement Ratings current as of 9/30/14
***Statement Ratings current as of 6/30/14

Middle East & Africa

Rank
Bank
Fitch
Moody’s
S&P
Total Score
Reporting Assets $mn
Country
1
National Bank of Abu Dhabi
AA-
Aa3
AA-
21
102,409
UAE
2
Qatar National Bank
AA-
Aa3
A+
20
133,614
Qatar
3
National Bank of Kuwait
AA-
Aa3
A+
20
74,399
Kuwait
4
Samba Financial Group
A+
Aa3
A+
19
57,973
Saudi Arabia
5
National Commercial Bank
A+
A1
A+
18
115,967
Saudi Arabia
6
Al Rajhi Bank
A+
A1
A+
18
82,056
Saudi Arabia
7
Riyad Bank
A+
A1
A+
18
57,224
Saudi Arabia
8
Abu Dhabi Commercial Bank
A+
A1
A
17
55,553
UAE
9
Banque Saudi Fransi
A
Aa3
A
17
50,341
Saudi Arabia
10
SABB
A
Aa3
A
17
50,029
Saudi Arabia
Statement Ratings current as of 12/31/14
*Statement Ratings current as of 10/31/14
**Statement Ratings current as of 9/30/14
***Statement Ratings current as of 6/30/14

Australia & New Zealand

Rank
Bank
Fitch
Moody’s
S&P
Total Score
Reporting Assets $mn
Statement Date
Country
1
National Australia Bank
AA-
Aa2
AA-
22
773,062
9/30/14
Australia
2
Commonwealth Bank of Australia
AA-
Aa2
AA-
22
745,527
6/30/14
Australia
3
ANZ Group
AA-
Aa2
AA-
22
675,733
9/30/14
Australia
4
Westpac
AA-
Aa2
AA-
22
674,639
9/30/14
Australia
5
Kiwibank
AA
Aa3
A+
21
14,634
31/12/14
New Zealand
6
Suncorp Metway
A+
A1
A+
18
56,577
6/30/14
Australia
7
Bendigo and Adelaide Bank
A-
A2
A-
13
61,289
6/30/14
Australia
8
Bank of Queensland
A-
A3
A-
12
43,852
8/31/14
Australia
9
Macquarie
A-
A3
BBB
 10
143,504
3/31/15
Australia
10
ME Bank
N/R
A3
BBB+
9.5
16,838
6/30/14
Australia
Source for ratings: Fitch Ratings, Standard & Poor’s, Moody’s Investors Service
Source for Reporting Assets: Fitch Solutions