BCEE ranked ninth safest bank in the world
Luxembourg bank BCEE retained its place among the top 10 most stable banks in the world, despite dropping two places, Global Finance magazine reports.
According to the publication, Luxembourg's oldest bank was rated ninth safest out of 500 banks, dropping from seventh place.
“BCEE continues to feature among the ten strongest banks,” a statement from BCEE said, explaining that the classification is considered a benchmark for ranking banks based on their stability.
"To draw up the classification, the magazine ranked the banks based on the quality of their assets and credit ratings assigned in the long-term by Moody's, Standard & Poor's and Fitch.
The top spot for the world's safest bank went to German bank KfW.