OCBC 'is the strongest bank in the world'

10 May 2011

The strongest bank in the world at present is Singapore's Oversea-Chinese Banking Corporation (OCBC), new data has suggested.

Bloomberg positioned the lender as number one in its markets ranking, while Svenska Handelsbanken AB of Sweden is second.

Canada also featured prominently on the list, with the National Bank of Canada coming in at number three and four other institutions from the country making the top 20.

Louis Vachon, chief executive officer at National Bank, said the findings illustrate that "size is not everything in financial services".

Only three US banks were included in the top 20, with Fifth Third Bancorp standing at number seven, JPMorgan Chase coming in 14th and Citigroup placed at number 16.

Banks that were included in the poll had to have at least $100 billion in assets.

A recent survey carried out by Euromoney Institutional Investor Plc found that Deutsche Bank remains the largest foreign-exchange trader in Europe.

By Tony Aynsley

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