The international magazine Global Finance recently highlighted a list of 25 banks chosen as the best in 2010 in developed markets. Israel’s Mizrahi Tefahot Bank is on the list, along with leading banks from North America, Europe, Asia and the Middle East.
According to Global Finance, the banks chosen were the ones that attended to their customers’ needs with caution and responsibility during a period of “difficult markets,” and reached the highest results while laying the foundations for their future success.
The banks were chosen according to both objective and subjective criteria. Objective criteria included growth in assets; profitability; geographic reach; strategic relationships; new business development; innovation; and the bank’s ability to conduct and fund itself in the current environment. Subjective criteria were extensive consultations with bankers, corporatists and equity and credit analysts.
“The mix of these factors yields leading banks that may not be the largest, the oldest or the most diversified in a given country, but rather the best – the banks with which corporations around the world would most likely want to do business,” the article reports.
Other banks recognized on the 2010 list are J.P. Morgan, HSBC, Royal Bank of Canada and Credit Suisse.