Singapore Banks Take Top Three Rankings in Asia for Safety

Singapore banks clinched the top three spots in a 2010 rank- ing of safest banks in Asia, according to the Global Finance magazine.

DBS Bank took the top spot in Asia, followed by OCBC and UOB in second and third place respectively.

When compared with the safety of other banks worldwide,

DBS Bank was ranked 23rd, an improvement from 24th place in 2009. OCBC and UOB were ranked 31st and 32nd respec- tively.

Global Finance said that 500 of the world’s largest banks were compared based on their long-term credit ratings and total assets, with ratings used from Moody’s, Standard & Poor’s and Fitch.