Nationwide UK named one of world’s 50 safest banks

Global Finance has published its 19th annual list of the world’s safest banks, and for the second consecutive year Nationwide UK is included on the list. Nationwide (UK) Ireland is due to open its first retail branch in Dublin this Autumn. It grabs the No. 47 slot. The only other UK banks to appear are HSBC and Barclays. Unsurprisingly, no Irish banks feature.

The ‘World’s 50 Safest Banks’ 2010 were selected through a comparison of the long-term credit ratings and total assets of the 500 largest banks around the world. Ratings from ratings agencies Moody’s, Standard & Poor’s and Fitch were used to compile the list.

Commenting on the results, Global Finance publisher Joseph Giarraputo said: “Banks that have strengthened their liquidity positions and the quality and quantity of their capital are recognised in these rankings.More than ever, customers around the world are viewing long-term creditworthiness as the key feature of banks with which they do business.”

Brendan Synnott, Nationwide UK (Ireland) managing director, added:”The fact that we have been included for a second year on the list is testament to a very resilient performance in current market conditions. It demonstrates the continued strength of our structure and prudent approach to managing our business.”

Nationwide UK (Ireland) currently employs 21 people at its Spencer Dock offices in Dublin’s IFSC.

French, Dutch and German banks fared best in the Global Finance survey, with KfW of Germany at No. 1, followed by Caisse des Dépôts et Consignations (CDC) of France and Bank Nederlandse Gemeenten (BNG) of the Netherlands.

Photo: Nationwide’s first high-street branch on Merrion Row, which is due to open in the autumn