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Press Release From Independent Source

Scotiabank named 2nd Safest Bank In North America by Global Finance Magazine

Scotiabank climbed six spots from last year to number 12 out of the 500 largest banks in the World. (Photo of Joycelyn Murraine, Country Head for Scotiabank British Virgin Islands) Photo: Provided
ROAD TOWN, Tortola, VI- Scotiabank has recently been recognized as the second safest bank in North America in Global Finance magazine’s list of the World’s Safest Banks 2012.

Global Finance named the Safest Banks in North America in an exclusive survey to be published in the October 2012 issue. Winners were selected through an evaluation of long-term credit ratings—from Moody’s, Standard & Poor’s and Fitch—and total assets of the 500 largest banks worldwide. 

In addition to topping the North American list, Scotiabank has also climbed six spots from last year to number 12 out of the 500 largest banks in the World. The World’s safest banks are considered to have solid capital positions and superior risk management capabilities. 

Canadian banks in general continue to dominate this list. They take positions one through six and seven of the top 10 spots. The full report evaluates the safest banks in Western Europe, Central and Eastern Europe, Asia, the Middle East, North America, Latin America and Australasia. 

“More than ever, customers around the world are viewing long-term creditworthiness as the key feature of the banks with which they do business,” says Joseph D. Giarraputo, publisher of Global Finance. “These banks have solid capital positions and superior risk management capabilities.” 

Joycelyn Murraine, Country Head for Scotiabank British Virgin Islands,  in acknowledging the award said that “ Scotia bank’s sound banking principles which focus on  strong risk assessment, steady growth and prudent asset management have given us pride of place as one of the most secure and stable institutions worldwide. In the recent global financial meltdown we were rated as one of the top ten most stable banks in the world; and our current rating as the 2nd most stable Bank in North America is again testament to superior team and the strong core values we employ as we go about delivering excellent and dependable service to our customers locally and regionally for over 175 years.” 

Global Finance Magazine, which is one of the industry’s most respected publications internationally, combines quantitative data with informed and important subjective judgements to honour institutions that have brought the highest levels of service, innovation and expertise to their customers.

3 Responses to “Scotiabank named 2nd Safest Bank In North America by Global Finance Magazine”

  • reform (01/09/2012, 09:46) Like (0) Dislike (0) Reply
    I am happy I have my lil bird nest there for Canadian banks have been the safest in the world for many years now.
  • ELLISP (01/09/2012, 22:42) Like (0) Dislike (0) Reply
    Great to hear, me too have my savings there. Nowadays, we got to be careful where we put our nest egg.
  • happy (01/09/2012, 22:47) Like (0) Dislike (0) Reply
    Nice, real Nice, sticking with Canadian banks all the way - American banks to risky for me


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