Finbond rated second best bank in South Africa and eleventh best bank in the world.
Finbond Group Limited
(Registration number: 2001/015761/06)
Share code: FGL ISIN: ZAE000138095
(“Finbond” or “the Company”)
FINBOND RATED SECOND BEST BANK IN SOUTH AFRICA AND ELEVENTH BEST
BANK IN THE WORLD
The London based Lafferty Group has awarded Finbond Mutual Bank
with a 4-star quality award as a high quality bank in the Lafferty
Banking 500 global benchmarking study.
Finbond Mutual Bank is one of some 174 banks among 500 of the
largest banks worldwide to achieve 4 or 5-star ratings. Two-thirds
of the banks are rated 3-star or lower. The highest-quality banks
are given 4 and 5-star ratings, while the lowest are rated as a 1-
star or a 2-star.
Finbond Mutual Bank is the second highest ranked bank in South
Africa and has been named as one of the leading banks globally,
ranking 11th in the world. Institutions from 72 markets across all
global regions are included in the survey, ranging from large
global banks to small regional institutions.
The average star rating for banks in South Africa was 3.7. By
comparison, UK banks scored an average of 3.5, Canada 2.9, and
Germany and the US scored 2.8.
This is how the banks in South Africa ranked:
SA# Global# Bank Rating
1 3 Capitec 5 stars
2 11 Finbond 4 stars
3 15 FirstRand 4 stars
4 71 Absa 4 stars
5 196 Nedbank 3 stars
6 337 Standard Bank 3 stars
7 420 Investec 3 stars
Lafferty Banking 500 is not one report but a vast database of 500
banks with 19 individual metrics for each of them. Lafferty’s
approach reveals a very different picture of world banking from
that given by traditional ratings and rankings. It goes far beyond
financial comparisons. Lafferty’s proprietary methodology, which
is entirely based on bank annual reports, takes account of multiple
qualitative metrics such as strategy, culture, living the brand,
digital advancement, management experience and customer
satisfaction – as well as more traditional financial criteria such
as capital, loan/deposit ratios and return on assets.
25 October 2018
Grindrod Bank Limited
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