BNY Mellon safest US bank: Global Finance survey
20 March 2012
Global investment management and investment services provider BNY Mellon today said that it continues to rank as the safest US-based bank, citing Global Finance magazine's annual ranking of the world's 50 safest banks.
This is the fourth year in a row that BNY Mellon has been ranked as the top US bank.
The Global Finance rankings of the World's 50 Safest Banks are based on an evaluation of long-term credit ratings from the principal rating agencies and total assets of the 500 largest banks worldwide.
In the first-ever mid-year update of the Global Finance rankings, only five banks in the US, led by BNY Mellon, made it to the most recent rankings, which will be published in April.
''More than ever, long-term creditworthiness is the key feature of banks for customers around the world,'' said Global Finance publisher Joseph D. Giarraputo. ''The banks included in our ranking have solid capital positions and superior risk management capabilities.''
''Our top ranking for US banks during the past four years reflects the successful execution of our strategic focus on capital creation and risk management. We've been there for our clients throughout this period, thanks in large part to our sustained financial strength,'' said Gerald L. Hassell, chief executive officer of BNY Mellon.
"BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation It has $25.8 trillion in assets under custody and administration and $1.26 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day" it said in a statement.