Financial data company Bloomberg ranked the banks in the US, and Citigroup came out on top. The bank also finished 9th in the world, while the top spot worldwide went to Qatar National Bank.
Ratings for strongest US bank were based on five criteria: Tier 1 Capital to Risk-Weighted Assets Ratio, Nonperforming Assets, Loan Loss Reserves, Deposits to Funding Ratio, Efficiency (Costs to Revenue) Ratio. The ratings are based on fiscal year 2012.
The Tier 1 ratio accounted for 40% of the score, and Citigroup’s high score is related to the bank’s recent offloading of bad assets.
Here’s Bloomberg’s ranking of the Top 10 Strongest Banks:
- Citigroup
- JP Morgan Chase
- Huntington Bancshares
- Zions Bancorporation
- KeyCorp
- US Bancorp
- Bank of America
- Regions Financial
- Fifth Third Bancorp
- SunTrust Banks
Citigroup has assets totaling $1.9 trillion. The complete rankings, as well as many other rankings — Most Stressed-Out Countries, Cities with Longest Commutes — can be viewed here.