Global Finance is an international financial magazine with offices in New York, London, Milan and Rio de Janeiro. The magazine’s editors cover politics and economics, follow international market developments and report on the activities of banks and financial companies.
Every year, the magazine publishes reviews and ratings of banks worldwide, regions, or a specific country. The best banks are awarded prizes.
All banks were evaluated using a 100-point system. The following criteria were taken into account:
Knowledge of customers and working conditions
Financial stability and safety
Variety and innovation of products and services
Staff numbers and skills
Judicious use of technology and risk management
How banks took care of customers during the pandemic was also taken into account: whether they were comfortable using the bank’s services from the comfort of their own homes.
The world's best banks by region
The leaders of the regions were the most technologically advanced banks. It was the pandemic that pushed customers to actively use online services.
Banks supported businesses and private lenders, provided many with vacations and payment deferrals. They also contributed to social and health campaigns against the coronavirus. At the same time, other banks temporarily suspended dividends.
In 2020, the region’s leading banks reaffirmed their financial strength, reliability and high asset quality.
The best banks in the world in 2021
|Region of the world 🌍||Bank 🏦||Africa||Standard Bank|
|Asia Pacific||Industrial and Commercial Bank of China|
|Central America||BAC Credomatic|
|Central and Eastern Europe||Райффайзен банк|
|Latin America||Itaú Unibanco|
|Middle East||Arab Bank|
|North America||Royal Bank of Canada|
Europe's best banks in countries with investment programs
Global Finance evaluated European banks separately. For the analysis we used the same indicators that were used to select the best banks in the world.
The cost of services determines the bank. For the citizens of the country conditions are always more favorable, and the attitude to them – more loyal. For example, Russians are more difficult to become clients of European banks. Therefore, investors apply for a residence permit to be able to conduct business settlements and keep savings on more favorable terms.
Leading banks in European countries with investment programs
The Austrian bank showed a good operating performance, with core revenues up 1% to almost 1.2 million euros and net income up 4% compared to December 2019.
A residence permit in Austria can be granted to financially independent persons. Investors are granted the status on the basis of quotas. The government allocates a limited number of quotas – in 2021 there are only 450. Registration of the status takes from three months.
Bank of Cyprus has maintained a strong liquidity position of 22.5% and Cypriot deposits account for 85% of the total. In the first nine months of 2020 the bank made a net profit of 40 million euros
Permanent residency in Cyprus is granted for the purchase of real estate, local shares or units. The minimum investment amount for all options is the same – €300,000. Registration of the card takes two months.
Eurobank Greece supported its customers during the pandemic: it granted new loans and imposed moratoria on payments and loans.
A residence permit in Greece is obtained by investment of €250,000 or more. The investor chooses from three options: to open a deposit in a local bank, to buy real estate or shares in Greek companies. The procedure takes about three months.
The liquidity position of the Bank of Malta remains strong – the ratio of loans to deposits is 62%. This is a good result, despite the fact that revenues were generally unchanged and profits were declining during 2020.
Permanent residence in Malta is granted to investors by investment of €112,000 or more. The investor buys or rents housing, pays an administrative fee, a government fee and a contribution to a Maltese non-governmental organization, as well as proves that he has assets worth €500,000 or more. It takes at least six months to obtain the status.
The Bank of Portugal increased the number of customers by 4.3%. Deposits grew by 2.3% and the number of loans by 6.8% over the year.
A residence permit in Portugal can be obtained by investment of €350,000 or more. The program provides for several investment options, such as starting a business or buying real estate, bonds or shares. The process takes about six months.
The Swiss bank’s revenue rose 12%, mainly driven by investment volume measurement and fund management activities.
Residence permits in Switzerland are issued for the payment of a minimum of ₣450,000 lump sum tax. The investor enters into an agreement with one of the country’s cantons and pays an annual tax.
The Bank of Great Britain has benefited from its diversified sources of income – it has increased its revenue by 21.8 billion pounds.
Residence permit in the UK can be obtained by investment in a business from 2 million pounds sterling. Registration takes from two months.
Immigrant Invest is a licensed agent of European residence permit by investment programs. If you want to move to one of the countries with the best banks in the world, seek advice from the experts of investment programs.