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Singapore's OCBC named world's strongest bank

(Xinhua)

08:34, May 04, 2012

SINGAPORE, May 3 (Xinhua) -- Singapore's OCBC (Overseas Chinese Banking Corporation) Bank has been named the world's strongest bank for the second straight year, local TV reported on Thursday.

Channel NewsAsia quoted Bloomberg Markets Magazine as saying that OCBC topped the ranking which featured 78 global banks with at least 100 billion U.S. dollars in total assets.

They were assessed based on factors such as their Tier 1 capital ratio, loan-to-deposit ratio, ratio of non-performing assets to total assets and their efficiency ratio, which compares costs with revenues.

The second spot went to Bank of China Hong Kong Holdings, a jump from its 10th position last year. Canadian banks dominated the top 10 rankings by occupying spots from the third to the sixth place.

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