In the midst of a global market crisis, a survey by the World Economic Forum has proclaimed Canada to have the world’s soundest banking system.
Placing just behind were Sweden, Luxembourg, Australia and Denmark in the World Economic Forum’s Global Competitiveness Report, released on Wednesday in Switzerland.
Twelve-thousand corporate executives around the world were interviewed on a number of questions and ranked banks around the world on a scale of one to seven — one being insolvent and possibly in need of government assistance and seven being entirely healthy.
The top 10 soundest banking countries are as follows:
- Canada (6.8)
- Sweden (6.7)
- Luxembourg (6.7)
- Australia (6.7)
- Denmark (6.7)
- Netherlands (6.7)
- Belgium (6.6)
- New Zealand (6.6)
- Ireland (6.6)
- Malta (6.6)