Despite all of the headlines about a banking crisis in Greece, Europe is home to the world’s safest commercial banks, according to a report by Global Finance Magazine.
The study compares 500 of the world’s largest banks and their “long-term foreign currency ratings” issued by Fitch, S&P, and Moody’s as of August 2014.
The banks are then given a score where 10 points are awarded for a AAA rating, 9 points for AA+ rating, and so on, according to
Andrew Cunningham, project coordinator for Global Finance Magazine.
The ranking does not include banks owned by other banks and government import-export finance institutions.
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