For its 2012 list of the World’s Best Banks, Global Finance choose winners in 12 categories ranging from best investment bank to best Islamic Financial Institution.
Citi led the way in three of the categories, and along with Deutsche Bank, was one of two institutions that chalked up more than one win.
In evaluating the banks, Global Finance said those “with the most effective risk management systems and excellent service” came out on top.
They used objective factors such as growth in assets, profitability and geographical reach as well as subjective opinions of equity and credit-rating analysts as well as corporate and financial executives.
Global Finance claimed that the decision was especially tough this year because many of the banks from the pool of potential winners found themselves in hot water. Examples included those embroiled in the Libor scandal this past summer.