April 10, 2017

Finland has the world’s safest banks

Finland’s money is in safe hands.
Finland’s money is in safe hands.
Istock.com/Pogonici

British online newspaper The Independent has ranked the safety of the banking sector worldwide, with Finland coming out on top.

Finland was found to have the safest banks in the world, in a survey that drew on the World Economic Forum’s most recent Global Competitiveness Survey. Amongst the various data compiled for the report was a survey of how respondents perceived the soundness of banks.

According to The Independent, the Finland’s banking sector “is dominated by co-operative and savings banks, which take little risk.” The paper also singled out the country’s central bank governor, Erkki Liikanen, who has “led the way on proposals to split investment banking and deposit-taking​ activities at European lenders.”

South Africa and Canada rounded out the top three.

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