Singapore Gives Way to Qatar as Home to the World’s Strongest Bank

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Bloomberg Markets announced this year’s world’s strongest bank. They determined the rankings based on the total assets. They evaluated 78 banks with assets of $100 billion or more for the first quarter of 2013. The overall assets are evaluated by tier 1 capital to risk weighted assets, non-performing assets to total assets, loan-loss reserves to non-performing assets, deposits to funding and efficiency. Last year, Singapore’s Oversea-Chinese Banking Corporation (OCBC) ranked first but this year, Qatar’s National Bank claimed the top spot as home to the world’s strongest bank.

Other banks included to the world’s strongest banks list are Canadian Imperial Bank of Commerce, Royal Bank of Canada, DBS Group Holdings, United Overseas Bank, Bank of Scotia, Toronto-Dominion Bank, Citigroup, Hang Seng Bank, Svenska Handelsbanken, China Construction Bank, Malayan Banking, Credit Suisse Group, JPMorgan Chase, Skandinaviska Enskilda Banken, National Bank of Canada, Industrial & Commercial Bank of China, Turkiye Garanti Bankasi and Bank of Communications.

What made Qatar National Bank (QNB) the strongest? Qatar is a tiny nation with huge gas and oil deposits. According to the International Monetary Fund, Qatar is the wealthiest nation in the world based on per capita income. Good management and government support is their key to reach the top spot for the strongest bank.

The success can be attributed to the chief executive officer of QNB. Ali Shareef Al Emadi maintained and even superseded other big countries because of his programs. Not only that, the government’s support is also vital. The Qatar National Bank SAQ (QNBK) is the country’s largest financial institution run by the government. It has been supporting QNB. With this, QNB has become the biggest lender in the neighbouring countries. More profits and expansions took place.

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