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Of 50 Safest Banks, 4 in U.S.

March 09, 2009 | Comments: 0
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USB | BBV | WFC
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Highlights include Banco Bilbao Vizcaya Argentaria (BBV - Snapshot Report), Wells Fargo & Co. (WFC - Analyst Report), US Bancorp (USB - Analyst Report), The Bank of New York Mellon (BK - Snapshot Report) and JPMorgan Chase & Co. (JPM - Analyst Report).

In Global Finance's April issue, the publication offered this year's analysis of the "World's 50 Safest Banks":

"The ranking compares the long-term credit ratings and other performance measurements and assets, which the rating agencies have determined demonstrates an institutions prudent and sustainable approach to risk. As such, the effects of the subprime mortgage meltdown and credit crisis definitely to their toll as international banks dominate the rankings, with only 4 U.S. institutions making the cut."

The number 1 institution was the German state-owned development bank KfW Bankengruppe (three other German institutions made the top 10 list as well). Spain 's Banco Bilbao Vizcaya Argentaria (BBV - Snapshot Report), which operates BBVA Compass bank branches in the U.S. , was ranked at No. 13.

Of the four U.S. institutions making the list, Wells Fargo & Co. (WFC - Analyst Report) at number 21 was the only one to make the upper half, US Bancorp (USB - Analyst Report) was at number 26, The Bank of New York Mellon (BK - Snapshot Report) was at number 35 and JPMorgan Chase & Co. (JPM - Analyst Report) -- which has merged with Washington Mutual Inc. -- at number 47.

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