3 Singapore commercial banks named as World's Top 10 safest

DBS Bank highest-placing at 3rd spot.

Global Finance magazine has named the World's Top 10 Safest Commercial Banks, and three Singapore banks -- DBS Bank (3rd), Oversea-Chinese Banking Corp (4th) and United Overseas Bank (5th) -- made it to the prestigious list.

Rabobank from the Netherlands topped the list while TD Bank Group from Canada came in second.

The latter half of the Top 10 list was filled with Canadian and Australian banks.

Here's the complete list of the World's Top 10 Safest Commercial Banks:

1 Rabobank - Netherlands
2 TD Bank Group - Canada
3 DBS Bank - Singapore
4 Oversea-Chinese Banking Corp - Singapore
5 United Overseas Bank - Singapore
6 Royal Bank of Canada - Canada
7 National Australia Bank - Australia
8 Commonwealth Bank of Australia - Australia
9 Westpac - Australia
10 ANZ Group - Australia

Winners were selected through an evaluation of long-term credit ratings—from Moody’s, Standard & Poor’s and Fitch—and total assets of the 500 largest banks worldwide, said Global Finance in a release.

The full World’s Safest Banks report evaluates the safest banks in Western Europe, Central and Eastern Europe, Asia, the Middle East, North America, Latin America and Australasia.

“Despite not enjoying government support, these banks are among the strongest and most secure institutions in the world,” notes Joseph Giarraputo, publisher of Global Finance.

The detailed report findings are to be published exclusively in Global Finance magazine's October 2013 issue.