BNY Mellon has retained its position as the safest US bank, according to Global Finance magazine’s ranking of the world’s 50 safest banks.
This marks the fifth consecutive year that BNY Mellon has been ranked the safest bank in the US.
The rankings compiled by Global Finance are determined by two major factors: the long term credit ratings given by the main rating agencies, and the total assets.
The most up to date list will be published in April, with BNY Mellon top of the five US banks included.
Global Finance publisher Joseph D. Giarraputo explained that the institutions that top the magazine’s rankings have proven their strength during a period of turbulence.
BNY Mellon Chairman and Chief Executive Officer Gerald L. Hassell said that the firm’s top ranking amongst US banks in recent years was due to its focus on capital creation and prudent risk management.