Singapore loses to Qatar as home to world's strongest bank

As OCBC slipped to 2nd spot in the rankings.

Bloomberg Markets Magazine announced its third annual ranking of the World's Strongest Banks.

Qatar National Bank claims the number one spot for the first time, followed by OCBC and Canadian Imperial Bank of Commerce.

Here's more from Bloomberg:

Asian banks continue to shine in the list as DBS Group Holdings (Singapore) moved up from #8 last year to #5 this year, United Overseas Bank (Singapore) from #7 to #6 and China Construction Bank from #14 to #12. Four Asian banks are in the top 10.

For the first time, Maybank (Malaysia) has made it to the list at #13. Maybank now has 2,200 branch offices in 19 Asian countries and CEO Abdul Wahid Omar attributes its ranking to tough supervision by Bank Negara Malaysia, and new stress-testing and risk control measures inside the bank. As the forth-biggest bank by assets in Southeast Asia, Maybank has been pursuing an overseas expansion strategy and is ahead of the industry with its strengthened risk management team to meet new requirements under Basel III. 

View the full report here.