Archive | May 5, 2012

The 8 Strongest Banks in the World*

The 8 Strongest Banks in the World*

 

#1. Strength score: 31.7 – Branch Banking and Trust, U.S.

Founded two years before the Bank of America in 1872, by merchant bankers Alpheus Branch and Thomas Jefferson Hadley, BBT is a finance institution specializing in commercial banking, investments and insurance that aims to maximize returns to shareholders. Not a member of the Federal Reserve, BBT is declared as a public company, BBT expanded mainly through acquisitions.

Even though BBT is one of the U.S.s top holding company with U.S.$155.1bn in assets, BBT received money through the TARP program, the U.S. Troubled Assistant Relief Program. TARP was signed in at the beginning of the global economic crisis by former U.S. President George W. Bush in October 3, 2008, which buys non-liquid assets from the institution to strengthen the finance sector.

The CEO is Kelly S. King

BBT has donated:

  • U.S$3 million to establish the BB&T Program of Free Enterprise to Florida State University.
  • U.S $2 million to fund research on Ayn Rand’s work, which she called Objectivism, at the University of Texas.
  • U.S $350,000 to fund the teaching of “The Moral Foundations of Capitalism” at the Loyola College in Maryland.
  • U.S $1.5 million to the University of Georgia to “expand teaching and research into the foundations of capitalism and free market economies”.
  • U.S $1 million to the University of Central Florida to create the BB&T Program for Business Ethics and fund the teaching of “The Moral Foundations of Capitalism”
  • U.S $1.75 million to establish a BB&T Chair in Free Market Thought West Virginia      University’s College of Business and Economics

The company gives each employee $100.00 every year to donate to a project or organization within their community, and also pays employees for two hours of volunteer work within their community.

#2. Strength score: 30.7 – Skandinaviska Enskilda Banken, Sweden

Established in 1856 by Andre Oscar Wallenberg, SEB is the first privately owned bank in Sweden. The Wallenberg family still controls (22%) of the bank through the investment company, Investor AB. SEB’s specialization is corporate, institutional, and private banking services including savings account, investment banking, securities brokerage services, loans, pensions, and insurance products.

Chairman of the Board, Jacob S. Wallenberg, is listed on the National BB Steering Group, 2002 of the financial global elite organization, the Bilderberger group, an influential powerhouse behind global political economic policies and decision making.

#3. Strength score: 29.9 – Bank of Nova Scotia, Canada

The Bank of Nova Scotia (Banque de la Nouvelle-Écosse) or Scotiabank is the 3rd largest bank in Canada. A chartered bank with limited liability, Scotiabank was founded in 1832 to facilitate trans-Atlantic trade. Specializing in retail, commercial, corporate and investment banking, Scotiabank has sponsored the:

  • Guadalajara’s Scotiabank Aquatics Center
  • the Jewish National Fund’s “Pitch for Israel” event
  • Sports such as hockey, boxing and cricket.

John Mayberry has been the Chair of Scotiabank since 2009. Scotiabank was and is probably one of a tiny minority of the top banks whereby the CEO did not get a raise in the global economic recession – the CEO, Rick Waugh, take home pay was U.S$10.6-million in 2011.

The most international of banks, Scotiabank fair seeming policies began to change in 1974 under former Prime Minister Pierre Trudeau, an attendee of the infamous Bilderberger ‘conferences’. Scotiabank came under closer scrutiny by the Bildergberger powerhouse, as it targeted Canada for inclusion. Indira Samarasekera, Canada, President of University of Alberta, Board of Directors Scotiabank.

#4. Strength score: 29.6 – PNC Financial Services Group, U.S.

PNC (Provident National Corporation) is one of the top U.S. financial services corporations. Founded in 1852 by steel magnates James Laughlin and B.F. Jones, PNC began business in commercial banking.

PNC is one of those banks that issued foreclosures as soon as mortgage owners made payments in 2011 leading to protests, yet PNC was one of those bailed out on receipt of U.S$7,579,200,000 by through the TARP program.

#5. Strength score: 29.5 – Credit Suisse Group, Switzerland

Credit Suisse was founded in 1856 by Alfred Escher.

Recently CEO Brady Dougan was marked as the world’s second highest paying bankster.

As one of the world’s largest securities firms. Credit Suisse invests in everything affected by federal legislation e.g. oil and gas, telecommunications, electric utilities and media companies. It provides private banking services, corporate and retail banking services and advising of financial institutions worldwide. This allows for all kinds of abuses to take place as in 2010 when resorts in Idaho, Montana, Nevada and the Bahamas, filed a federal law suit accusing Credit Suisse of “giving predatory loans to the resorts’ investors as part of a scheme to take over the properties.”

Many questionable links have been made with the Group including:

  • Insider trading FBI investigation involving Hafiz Naseem, a Credit Suisse FB investment banker
  • One of the sponsors of the Mitt Romney 2012 U.S. election campaign along with Goldman Sachs, and      Morgan Stanley

Credit Suisse is a member of the Bilderberger powerhouse, and has shareholders such as Goldman Sachs owns 584918 shares worth $13.73M, Barclays owns 372565 shares worth $8.68M, Bank of America owns 233300 shares worth $5.47M, and its London Canary Wharf headquarters were bought by Qatar Holding, the overseas investment are of the Qatar’s wealth fund.

#6. Strength score: 27.0- Banco Bradesco, Brazil

BBD is the largest private bank in Brazil until 2009. It specializes in private-sector commercial bank, but also provides Internet Banking, insurance, pension plans, annuities, credit card services, saving bonds, personal and commercial loans, as well as leasing services.

The Chair is Lázaro de Mello Brandão, but the company was founded in 1943 as a commercial bank by Amador Aguiar.

BBD has shareholders such as GOLDMAN SACHS owns 9.01M shares worth $150.21M, Bank of Nova Scotia owns 2.29M shares worth $38.17M, Bank of America owns 2.06M shares worth $34.33M, and Barclays owns 1.31M shares worth $21.87M.

#7. Strength score: 27.0- China Construction Bank, China

CCB was founded as a commercial bank in 1954, as the “People’s Construction Bank of China”. CCB is the second largest bank in China, and the largest lender to home buyers. However, Chairman Wang Xuebing was charged with corruption and sentenced to 12 years in prison in 2002.

In 2005, Bank of America acquired a 9% stake in China Construction Bank for $3 billion, which in turn it had to sell in 2011 due to its financial predicament.

#8. Strength score: 27.0- JP Morgan Chase, U.S.

The JP Morgan dynasty has a history full of intrigue, war-racketeering and geopolitical economics as a former employee of Hilary Clinton, and former British Prime Minister, Tony Blair.

JP Morgan began business life in 1799 as the Manhattan Company, supplying water, which curiously enough made it easy to get a banking charter that would assist in providing finance for their water utility.

In 1824, Chemical Bank was established, and by 1873 a Manufacturers National Bank was founded. Their first of 1,200 acquisitions took place in 1854, with son Junius taking over the London merchant bank, Peabody which was later re-named J.S. Morgan and Co. Chase National Bank was formed in 1877 with all enterprises consolidated under JP Morgan in 1895. In banking terms, Morgan’s specialization is securities, and investments.

It was also in 1877 bank rolled the U.S along with the Rothschilds by floating U.S$260mn in U.S. government bonds to provide the government with needed credit, by buying U.S$200mn worth with gold. This is no different from what is happening now!

Both world wars was a time of great expansion for JP Morgan in global politics after loan 10mn pounds to the French during Franco-Prussian war in 1870, and as “financial representative” for the British and French both during and after the wars. Known for their cut –throat tactics in order to ensure financial stability, during the financial instability of 1907, JP Morgan (John Pierpont) took the helm, gathered the presidents of leading banks on Jekyll Island, and forced them to sign an agreement that constituted the first bank bailout package. This laid the ground for the formation of the privately owned U.S central bank, the Federal Reserve with J. P. Morgan Co., and Kuhn, Loeb & Co as major shareholders.

Then, the bailout package came from the likes of JP Morgan Chase, but at the dawn of the global economic crisis in 2007/8 obtained the money from the Federal Reserve to buy out Bear Stearns as Stearns was about to go bankrupt!

The JP Morgan’s International Council plays a proactive role in the Bilderberger conferences, one of the founders being David Rockefeller, former CEO and Chairman of Chase Manhattan (JP Morgan Chase). It also plays a proactive role in British banking as demonstrated by the 2011 incident when Venezuelan president, Hugo Chavez after nationalizing all his country’s gold, and asked the Bank of England for 211 tons of Venezuela’s gold. That gold is kept in vaults held by JP Morgan, as well as Barclays and the Bank of Nova Scotia!

Source*

“Banco Bradesco.” http://www.securities.com/Public/company-profile/BR/Banco_Bradesco_en_1141801.html

“Bank of America vs. Branch Banking and Trust.” http://consumer-banking.findthebest.com/compare/2-11/Bank-of-America-vs-Branch-Banking-and-Trust-Company

“Branch Banking and Trust Company.” http://banktracker.investigativereportingworkshop.org/banks/north-carolina/winston-salem/branch-banking-and-trust-company/

“Credit Suisse Group.” http://www.opensecrets.org/orgs/summary.php?id=d000000134

“Credit Suisse Group AG : Qatar Holding Buys Credit Suisse’s London Headquarters.” http://www.4-traders.com/CREDIT-SUISSE-GROUP-AG-9364979/strategies-broker-research/CREDIT-SUISSE-GROUP-AG-Qatar-Holding-Buys-Credit-Suisse-s-London-Headquarters-14032132/

“Skandinaviska Enskilda Banken.” http://www.relbanks.com/europe/sweden/skandinaviska-enskilda-banken

“Skandinaviska Enskilda Banken AB.” http://www.bloomberg.com/quote/SEBA:SS

“The Rise of Big Business.” http://www.digitalhistory.uh.edu/database/article_display.cfm?HHID=194

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