Once again, BancoEstado is acknowledged as the safest bank in Latin America
The Chairman of the bank, Mr. Sebastián Sichel, pointed out that given the public nature and its social role, the acknowledgment represents a source of pride for the bank.
Santiago, October 28, 2020.- The prestigious magazine Global Finance, once again named BancoEstado as the safest bank in Latin America in 2020, and also ranked 15th among emerging markets.
The Chairman of BancoEstado, Mr. Sebastián Sichel, said “despite the difficult scenario generated by Covid-19, the bank led, for the 9th consecutive year, the list in Chile and Latin America. This makes us very proud, given our historical social role of being with the people and playing a central role in the economic reactivation of the country".
To prepare this ranking, ratings and total assets of the main players in developing economies were assessed. This approach provides an overview of key banks in each region and which financial institutions offer enhanced security.
The ranking was made by evaluating long-term foreign currency risk ratings (from major agencies such as, Moody's, Standard & Poor's and Fitch Ratings) of the 500 largest banks in the world.
Global Finance editor, Mr. Joseph Giarraputo, said that despite Covid-19, “the relative position of the world's largest banks in Global Finance's 'World's Safest Banks 2020' lists has remained stable. One can only speculate on when, or if, changes will come. Meanwhile, companies, investors and individuals will use rankings to assess the relative safety of the banks they choose to do business with".
Established in 1987, Global Finance Magazine is headquartered in New York City with offices all around the world. Every year this publication honors the best performing banks and other financial service providers.