DBS, OCBC, UOB named top three safest banks in Asia

DBS ranked 11th worldwide.

Global Finance named three Singapore banks DBS, OCBC, and UOB as the safest in Asia.

According to the magazine, DBS ranked 11th worldwide, whilst OCBC and UOB ranked 13th and 14th.

"Asia has been one of the strongest regions globally in the past year while other parts of the world are wrecked by economic uncertainty," said Global Finance publisher and editorial director Joseph D. Giarraputo.

He also added that the safest banks in Asia offered best security and stability in the face of a bullish economy.

Banks were selected through an evaluation of long-term foreign currency ratings, from Moody’s, Standard & Poor’s and Fitch, and total assets of the 500 largest banks worldwide.