BancoEstado is named the safest bank in Latin America.-
This is the fifth consecutive year that Global Finance has named this public bank as the safest financial institution in Latin America. BancoEstado is among the “top 50” in the world ranking.
This distinction is an acknowledgement of the work carried out by BancoEstado in each of its business areas, and the Global Finance journal named it the safest banking institution in Latin America for the fifth consecutive year.
The list takes into consideration the classification issued by the principal credit rating agencies in the world (Moody’s, Fitch and Standard & Poors) with respect of the 500 most important Banks in the world. BancoEstado ranks first in Latin America, followed by Banco de Chile, Banco Santander, Banco de Crédito e Inversiones and HSBC Mexico.
This year, the global ranking was headed by 22 European Banks. BancoEstado is the only Latin American institution included in this list, where it ranks 48. Click here for the complete ranking.
In this respect, Carlos Martabit, BancoEstado’s General Financial Manager, said: “This recognition fills us with pride, because it reflects work based on strict risk control, a sound commercial policy and excellent management of liquidity and diversification of liabilities"
The executive also pointed out that the regional ranking is headed by Chilean institutions: “This speaks of the solidness of our banking industry, which enables it to create client confidence, especially in economic cycles of slow growth, as is the one we are experiencing at present and which has as one of our main concerns the issue of facing low copper prices”.