Hong Kong’s Hang Seng Repeats as World’s Strongest Bank
Like Hang Seng and Norinchukin, Singapore’s strongest banks are targeting markets they know well. That’s helping them curb bad debts and build a strong capital base, says Jean-Charles Sambor, Asia-Pacific director at the Institute of International Finance. The Tier 1 capital ratio at Oversea-Chinese Banking and the other Singapore banks exceeded the Basel III guideline at the end of 2014.
Oversea-Chinese Banking, Southeast Asia’s second-largest lender by market value, has ambitions beyond plain banking in Asia. It operates in 18 countries and territories from Malaysia to China and was among the first to reopen a branch in Myanmar this year after 49 years of military rule. “Our strategic direction is to become a leading, well-diversified Asian financial services group with a broad geographical footprint,” CEO Samuel N. Tsien says. He says the ability to get funding and revenue from both developed and emerging Asian markets helps stabilize the bank’s capital base when regional economies fluctuate.
Worth a mention, all Singapore local banks are on the list since the inception of the ranking.
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