Every year, Global Finance Magazine ranks the World's 50 Safest Banks and the 2008 results have recently been released. Wells Fargo & Co. was the top-rated bank in the United States. Only three other US banks made the list, while European banks dominated the rankings. This list shows the effect of the sub prime mortgage meltdown and credit crisis brought on by large Wall Street players. Now, more than ever, it is very important to know the creditworthiness of your bank; the banks are selected through comparison of the long-term credit ratings and total assets. Ratings are from Moody's, Standard & Poor's and Fitch. "These banks have demonstrated an appropriately prudent approach to risk in providing international financial services" stated Global Finance publisher, Joseph D. Giarraputo.
Four German banks were ranked in the Top 10, with state-owned development bank KfW Bankengruppe at No. 1. However, Spain’s Banco Bilbao Vizcaya Argentaria, which operates BBVA Compass bank branches in the U.S., was ranked at No. 13. Other United States banks that made the list are US Bancorp at No. 26, The Bank of New York Mellon at No. 35, and JPMorgan Chase & Co., which recently merged with Washington Mutual Inc. at No. 47.
Wayzata is proud to have a Wells Fargo located at Wayzata Blvd. East that offers many services, including The Private Bank.
(Photo courtesy of
http://www.wayzatalifestyle.tk/)
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