Everyone uses banking in some form or another. Its very rare that people are paid for professional work in any other form other than through a bank account payment.
Theres an abundance of banking institutions around the world. Although the news is replete with stories about how banks are overcharging the public, or overpaying their executives, we still need to use them. They have an important purpose in society.
Chances are, youve probably heard of most of them. But do you know which are considered the best?By best, this means the banks that have the most assets (read: money) and superlative business practices.
Deutsche Bank Germany
With a ruthless efficiency, the Germans take the business world very seriously. This reflects in their banking. Deutsche Bank has been voted the worlds very best bank.
Founded in Berlin,1870 Deutsche Bank began with an eye to work throughout Europe and the overseas market.
With assets approaching £1.9 trillion pounds, the bank is the largest currency dealer worldwide with offices in 74 countries, accounting for 15% of the market share.
They focus on the full spectrum of banking, including basic cash management, trust & security services, mergers & acquisitions and real estate.They also collect awards like candy, including Best Corporate Bank and Best Interest Rates Derivatives Provider.
HSBC Holdings – UK
Based in London, HSBC is the third-largest bank and has assets of approximately £1.6 trillion pounds.
Founded by a Scotsman, who saw the potential for local banking in Hong Kong and China, the first offices opened in 1865. However, a new branch of HSBC was founded in London in the early 1990s after the acquisition of Midland Bank.
Today, HSBC is a multinational bank, meaning that its used the world over in diverse places such as the Middle East, Europe and Asia Pacific. It is still the largest bank in Hong Kong.
2012 has seen them win numerous awards, including Best Bank for Corporates and Most Improved Brokerage over the last 12 months.
Mitsubishi UFJ – Japan
Second only to Deutsche Bank, Mitsubishi has assets of £1.7 trillion and operates in over 35 countries around the globe.
The financial group was formed around 1880, and has been through several mergers with other companies.
A large banking company such as this has a diverse range of services, including commercial, trust and securities banking.
Awards include 2012 Best Investment Bank in Japan and 2011 Best Electronic Equity Brokerage.
Rachel Hurley is a content writer for Sell Pension, the pension advice specialists.