The National Bank of Egypt (NBE) and Banque Misr were listed on Thursday among the world’s 50 safest banks by Global Finance magazine.
The two national banks ranked ninth and 10th, respectively, as the safest banks in Africa.
South Africa had the lion's share in the latter list, with five of its banks taking the fourth through the eighth spots.
Three Moroccan banks claimed the first three positions. Attijariwafa Bank maintained its top position for the second year running.
Global Finance's list of Safest Banks in Africa is part of its annual rankings of the World’s Safest Banks.
The full list is expected to be published in the November print and digital editions of the magazine, and online on GFMag.com.
The full report includes the World’s 50 Safest Banks, World’s 50 Safest Commercial Banks, Safest Banks by Country, 50 Safest Banks in Emerging Markets, Safest Islamic Financial Institutions in the GCC, and Safest Banks by Region (Africa, Asia, Australasia, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe.)
“The past year demonstrates the resilience of the banking sector, which stood as a bulwark against collapse during the coronavirus pandemic, supplying critical emergency funding as well as, in many cases, emergency equipment and supplies,” said Joseph Giarraputo, publisher and editorial director of Global Finance.
He added that the safest banks are paragons of stability, and continue to provide the support for governments and communities necessary to recover from the pandemic’s economic shocks.
Banks were selected through an evaluation of long-term foreign currency ratings — from Moody’s, Standard & Poor’s, and Fitch — of the 500 largest banks worldwide.
On 5 September, Global Finance placed the Governor of the Central Bank of Egypt Tarek Amer in the top 10 central bank governors list for 2021, awarding him an “A” grade.
The list comprises central bank governors who earned “A” or “A-” grades as part of the magazine’s Central Banker Report Cards 2021.
Global Finance magazine’s list of the world’s 50 safest banks.