OCBC tops Forbes ‘World’s Top Performing Banks’ list, DBS in second
The two Singapore banks take the top two spots among global banks in the inaugural version of the list
OCBC and DBS, two Singaporean banks, secured the top two spots on the inaugural "World's Top Performing Banks" list compiled by Forbes and Statista. The ranking, unveiled on September 11, assessed financial institutions based on profitability, growth and earnings quality, capital and funding resilience, and asset quality and efficiency.
These factors were weighted at 30%, 20%, 25%, and 25% respectively. Metrics such as net interest margin, customer deposit growth indicators, loan-to-deposit ratio, and credit quality were used to evaluate the banks. Only two banks from Singapore, OCBC and DBS, made the list, which encompassed a total of 500 banks from 89 countries across six tiers.
The only other Singaporean bank on the list was JPMorganChase, which ranked fifth globally, while China Merchants Bank secured the fourth position. Among the Asian nations represented, Vietnam had the highest representation with 12 banks, followed by Malaysia with eight, Thailand with seven, Indonesia with six, and India with 17.
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