Global Finance Magazine listed Egypt’s two biggest state lenders, the National Bank of Egypt (NBE) and Banque Misr among the world’s 50 safest banks.
NBE and Banque Misr ranked 9th and 10th, respectively as the safest banks in Africa.
South Africa has had the lion’s share in the magazine’s list, with five of its banks taking the fourth through the eighth spots.
Three Moroccan banks attained the first three positions. Attijariwafa Bank maintained its top ranking for the second year running.
Global Finance’s list of Safest Banks across Africa is part of its annual rankings of the World’s Safest Banks.
The full list is expected to be released in the November print and digital editions of the magazine, and online on GFMag.com.
The full report will include the World’s 50 Safest Banks, World’s 50 Safest Commercial Banks, Safest Banks by Country, 50 Safest Banks in Emerging Markets, Safest Islamic Financial Institutions in the GCC, and Safest Banks by Region (Africa, Asia, Australasia, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe.)
“The past year demonstrates the resilience of the banking sector, which stood as a bulwark against collapse during the coronavirus pandemic, supplying critical emergency funding as well as, in many cases, emergency equipment and supplies,” Joseph Giarraputo, publisher and editorial director of Global Finance, said.
Giarraputo added that the safest banks are paragons of stability, and continue to provide the support for governments and communities necessary to recover from the COVID-19 pandemic’s economic shocks.
Banks were chosen through an evaluation of long-term foreign currency ratings — from Moody’s, Standard & Poor’s, and Fitch — of the 500 largest banks worldwide.
On September 5, Global Finance has named Egyptian central bank governor Tarek Amer among the top 10 central bank governors list for 2021, awarding him an “A” grade.
The list comprises central bank governors who earned “A” or “A-” grades as part of the Global Finance’s Central Banker Report Cards 2021.
