It is a pleasant surprise to know that Singapore's Overseas Chinese Banking Corp bank has been ranked as the world's strongest bank by Bloomberg.
A strong performance for the fiscal year of 2010 is the biggest evidence to why OCBC managed to edge out the other two local banks to shine on the international stage.
Development Bank of Singapore (DBS) and United Overseas Bank (UOB) only managed to achieve fifth and sixth place respectively. UOB has been disappointing lately, allowing OCBC and DBS to advance ahead of it.
Svenska Handelsbanken of Sweden clinched the runner-up spot while two Canadian banks, National Bank of Canada and Canadian Imperial Bank of Commerce, make up the list of the top five.
Standard Chartered and CitiGroup came in at a modest fifteenth and sixteenth respectively while Credit Suisse Group of Switzerland managed to secure number thirteen.
I don't expect OCBC to defend their title of the world's strongest bank next year. With the economy slowly tuning upwards in favour of the West, be prepared to see the Canadian banks and others in North and South America to be the winner next year.
A strong performance for the fiscal year of 2010 is the biggest evidence to why OCBC managed to edge out the other two local banks to shine on the international stage.
Development Bank of Singapore (DBS) and United Overseas Bank (UOB) only managed to achieve fifth and sixth place respectively. UOB has been disappointing lately, allowing OCBC and DBS to advance ahead of it.
Svenska Handelsbanken of Sweden clinched the runner-up spot while two Canadian banks, National Bank of Canada and Canadian Imperial Bank of Commerce, make up the list of the top five.
Standard Chartered and CitiGroup came in at a modest fifteenth and sixteenth respectively while Credit Suisse Group of Switzerland managed to secure number thirteen.
I don't expect OCBC to defend their title of the world's strongest bank next year. With the economy slowly tuning upwards in favour of the West, be prepared to see the Canadian banks and others in North and South America to be the winner next year.
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