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World’s Safest Banks 2023—Global Top 100 – S-blc.com Standby Letter of Credit

World’s Safest Banks 2023—Global Top 100

The debacles of 2023 clearly illustrated that a bank’s financial stability must never be taken for granted.

Overall performance of eurozone banks has been solid this year as generally well-capitalized institutions have reported sustained profitability. With the IMF forecasting GDP growth of only 0.9% for 2023 and 1.5% next year for the region, many institutions are aggressively boosting loan-loss reserves. Western Europe’s strength is reflected in our global rankings, the region claiming nine of the top 10 spots and 42 entries in the top 100 overall. France leads the region with nine.  

Notable shifts include UBS falling 11 places to No. 48 following its takeover of Credit Suisse. Caisse des Depots et Consignations fell one place thanks to a Fitch downgrade while Deutsche Apotheker- und Aerztebank fell 17 spots to No. 52 thanks to Moody withdrawing its ratings. Others enjoyed happier ratings results. SFIL benefitted from a Moody’s upgrade, raising it six places from its rank last year.  

The Asia-Pacific region is well-represented with 26 names among the World’s 100 Safest Banks. Singapore leads with three big banks—DBS, Oversea-Chinese Banking Corp. and United Overseas Bank. Australasia placed six with Kiwibank benefitting from a Fitch upgrade rising to No. 44.  

In North America, Canada tops the region with RBC at No. 10, and a total of seven banks among the 100 safest. In the United States, the Federal Farm Credit banks fell up to eight places each following Fitch’s August downgrade of the US sovereign rating. Still, they remain the highest-ranking institutions in the US, which has 10 banks on the list, the most of any one country.  

Institutions in the bottom half of the top 100 show increased regional representation.  These banks upped the tally for the Asia-Pacific region adding 18 banks, largely from China and South Korea, for an overall total of 26 institutions in the top 100, and reflects four additional UAE domiciled banks for a total of five overall.

It also includes banks in new regions notably in Central and Eastern Europe with Komercni Banka of the Czech Republic and ING Bank Slaski in Poland, and in Latin America with Scotiabank Chile.

Methodology: Behind the Rankings

Global Finance ranks the world’s largest 500 banks by asset size, calculated based on 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 are used, and banks that are wholly owned by other banks are 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 ranking 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. All ratings in the tables were valid as of August 18, 2023.

Global Top 100
RankNameDomicileFitch RatingFitch ScoreMoody’s RatingMoody’s ScoreS&P RatingS&P ScoreTotal ScoreTotal Assets(USD million)Report Date
1KfWGERMANYAAA10Aaa10AAA1030591,565.9712/31/22
2Zuercher KantonalbankSWITZERLANDAAA10Aaa10AAA1030214,759.7512/31/22
3BNG BankNETHERLANDSAAA10Aaa10AAA1030135,520.0612/31/22
4Landwirtschaftliche RentenbankGERMANYAAA10Aaa10AAA1030103,749.3112/31/22
5L-BankGERMANYAAA10Aaa10AA+929 99,421.4812/31/22
6Nederlandse WaterschapsbankNETHERLANDSNR9Aaa10AAA1029 89,068.9112/31/22
7KommunalbankenNORWAYNR9Aaa10AAA1029 46,080.6012/31/22
8NRW.BANKGERMANYAAA10Aa19AA827168,359.6412/31/22
9Swedish Export Credit CorporationSWEDENNR8Aa19AA+926 34,166.7112/31/22
10Royal Bank of CanadaCANADAAA-7Aa19AA-7231,359,411.001/31/23
11Caisse des Depots et ConsignationsFRANCEAA-7Aa28AA8231,117,393.0012/31/22
12DBS BankSINGAPOREAA-7Aa19AA-723 552,854.3812/31/22
13Oversea-Chinese Banking CorpSINGAPOREAA-7Aa19AA-723 417,503.7312/31/22
14United Overseas BankSINGAPOREAA-7Aa19AA-723 375,026.0312/31/22
15Svenska HandelsbankenSWEDENAA8Aa28AA-723 331,218.6312/31/22
16Korea Development BankSOUTH KOREAAA-7Aa28AA823 277,505.7612/31/22
17Export-Import Bank of KoreaSOUTH KOREAAA-7Aa28AA823 96,523.7112/31/22
18SFILFRANCENR7Aa28AA823 68,478.7712/31/22
19Banque Cantonale VaudoiseSWITZERLANDNR7Aa28AA823 64,203.0012/31/22
20Banque et Caisse d’Epargne de l’EtatLUXEMBOURGNR7Aa37AA+923 61,261.0012/31/22
21Toronto-Dominion BankCANADAAA-7Aa28AA-7221,382,500.841/31/23
22Industrial Bank of KoreaSOUTH KOREAAA-7Aa28AA-722 338,515.5612/31/22
23DNB BankNORWAYNR6.5Aa28AA-721.5 290,199.279/30/22
24Bank of TaiwanTAIWANNR6.5Aa37AA821.5 201,017.8212/31/22
25Banque Pictet & CieSWITZERLANDAA-7Aa28NR6.521.5 48,513.0012/31/22
26Bank of Nova ScotiaCANADAAA-7Aa28A+621 992,680.331/31/23
27Bank of MontrealCANADAAA-7Aa28A+621 829,719.221/31/23
28Canadian Imperial Bank of CommerceCANADAAA-7Aa28A+621 666,428.441/31/23
29DZ BANKGERMANYAA-7Aa28A+621 665,986.4212/31/22
30Nordea BankFINLANDAA-7Aa37AA-721 634,460.3412/31/22
31First Abu Dhabi BankUAEAA-7Aa37AA-721 302,249.3612/31/22
32Hang Seng BankHONG KONGAA-7Aa37AA-721 242,546.7512/31/22
33Federation des Caisses Desjardins du QuebecCANADAAA-7Aa28A+621147,768.4512/31/20
34Sparkassen-FinanzgruppeGERMANYA+6Aa28NR6201,755,652.5012/31/21
35Commonwealth Bank of AustraliaAUSTRALIAA+6Aa37AA-720 817,006.5012/31/22
36ANZ GroupAUSTRALIAA+6Aa37AA-720 744,502.003/31/23
37National Australia BankAUSTRALIAA+6Aa37AA-720 702,098.003/31/23
38WestpacAUSTRALIAA+6Aa37AA-720 682,555.003/31/23
39RabobankNETHERLANDSA+6Aa28A+620 670,371.6812/31/22
40SEBSWEDENAA-7Aa37A+620 339,057.5412/31/22
41SwedbankSWEDENAA-7Aa37A+620 273,788.6112/31/22
42AgriBankUNITED STATESA+6Aa37AA-720 156,463.0012/31/22
43OP Corporate BankFINLANDNR6Aa37AA-720 100,532.5612/31/22
44KiwibankNEW ZEALANDAA8A16NR62021,103.6312/31/22
45Agence France LocaleFRANCENR6Aa37AA-720 8,550.5712/31/22
46BNP ParibasFRANCEA+6Aa37A+6192,843,955.4212/31/22
47Credit AgricoleFRANCEA+6Aa37A+6192,537,568.3012/31/22
48UBSSWITZERLANDA+6Aa37A+6191,105,436.0012/31/22
49Banque Federative du Credit MutuelFRANCEA+6Aa37A+619 735,487.5812/31/22
50HSBC Continental EuropeFRANCEAA-7A16A+619 298,310.8312/31/22
51CoBankUNITED STATESA+6NR5.5AA-718.5188,84312/31/22
52Deutsche Apotheker- und AerztebankGERMANYAA-7NR5.5A+618.557,79312/31/22
53LGT BankLIECHTENSTEINNR5.5Aa37A+618.553,60212/31/22
54AgFirstUNITED STATESA+6Aa37NR5.518.542,07312/31/22
55Farm Credit Bank of TexasUNITED STATESA+6Aa37NR5.518.535,99012/31/22
56China Development BankCHINAA+6A16A+6182,611,37712/31/22
57Agricultural Development Bank of ChinaCHINAA+6A16A+6181,300,65812/31/22
58Export-Import Bank of ChinaCHINAA+6A16A+