The 11 countries with the safest banks, ranked by customers

The World Economic Forum’s recently-released Global Competitiveness Survey offers a bundle of indicators to show the health of a country’s institutions.

One of those is the perceived safeness of banks.

WEF used its executive opinion survey to ask “in general, how do you perceive the soundness of banks?”

So the measure isn’t based on any objective economic or accounting measure, but rather by the perceptions of the population. The countries are ranked from 1 (banks need more money) to 7 (banks are generally sound).

The survey showed that people in the UK and US really don’t trust their banking systems after the 2008 financial crisis. The UK was ranked 89 and the US came in at 49, below Honduras, Namibia and Peru.

We looked only at the 34 OECD (Organisation for Economic Co-operation and Development) countries, which are all considered relatively developed economies with democratic systems.

6. Chile -- Chile's banking sector is a good example of the positive effects of a crisis. The country's economic growth collapsed 13% in 1982 after a huge banking meltdown. New laws introduced in the 80s and 90s mean that now Chile has one of the strongest financial sectors in the world.

EUTERS/Ivan Alvarado

1. Canada -- Canadian banks have long been a byword for stability. The country has had only two small regional bank failures in almost 100 years, and had zero failures during the Great Depression of the 1930s.

Bruce Bennett/Getty Images

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