(Image: The Star)
According to this year’s survey by Global Finance Magazine, Maybank is once again named the safest bank in Malaysia and one of the safest in Asia.
In a statement, the monthly financial magazine revealed that the criteria used to select banks from a total of 1,000 worldwide are twofold, based on an assessment of long-term foreign currency ratings (from Moody’s, Standard & Poor’s and Fitch), as well as total assets held. The survey will be published in its November 2019 issue.
"Our list of safest banks by country provides insight into financial institutions that rarely make global headlines but can offer deep local knowledge and networks," said Global Finance publisher and editorial director Joseph D. Giarraputo.
In addition to listing the Safest Banks by Country, the survey also includes the World’s 50 Safest Commercial Banks, 50 Safest Banks in Emerging Markets, and Safest Islamic Financial Institutions in the Gulf Cooperation Council countries.
This isn’t the first time that Malaysia’s largest bank has earned this title. Global Finance Magazine has named Maybank as the safest bank in the country several times since 2014.
(Source: The Edge Markets, Global Finance Magazine)