The survey was carried out in more than 100 countries. The announcement was made in New York during the 23rd annual ranking assessment of the safest banks in the world.

The rankings were based on the long-term credit ratings of the three ratings agencies Moody’s, Fitch and Standard & Poor’s, and the total assets of the 1,000 largest banks in the world. The full survey is to be published in the magazine’s November issue.

The top ten safest banks in Western Europe were all in Switzerland, Germany, France, Luxembourg and the Netherlands.

“Geopolitical risk is rising in some markets and new regulations are causing corporates to re-evaluate their banking relationships worldwide. It is essential for companies to have a clear view on the strength and stability of their banking partners,” said Global Finance publisher and editorial director Joseph D.  Giarraputo in a news release.

In addition to the Safest Banks By Country, the report includes the following rankings: World’s 50 Safest Banks, World’s Safest Banks By Region, World’s Top 50 Safest Commercial Bank, Top 50 Safest Banks In Emerging Markets, Safest Emerging Markets Banks by Region, Safest Islamic Financial Institutions In The GCC, World’s 50 Biggest Banks and the Biggest Emerging Markets Banks.

Hellenic Bank said in an announcement that its online banking service had also been pronounced by Global Finance magazine as the best online banking service in Cyprus in 2014 in the category of Consumer and Corporate/Institutions and received the two awards: ‘Best Consumer Internet Bank’ and ‘Best Corporate/ Institutional Internet Bank’.

Source: Cyprus Mail