Top ten financial institutions of the world
By greater optimism and assurances by America, major part of the world succumbed to globalization and WTC agreements. American companies, for their profit, encouraged the buying habits of people in the globe, and people, by high yielding soft-ware professions etc, were attracted by the glittering style of posh materials, adopted the stylish life. In order to get export orders for certain products, and get outsourcing contracts, allowed foreign companies( most of which were from America) to do their business in other countries.Especially Third –world countries were easily fooled by these assurances. Banking institutions and financial institutions lent credits for such purchases.By such mis-directed encouragements, finance institutions turned out to be just credit institutions.
And now, the result is before us .Economy of U.S.A. Underwent a regression. As there had established an interlink, other countries in the world also are suffering a setback in their economy. Thousands of people in India also have lost their jobs in last one year. But now, the shock is being subsided. But it takes years to come, to set the track on the right path.
Now, many banks and financial institutions have gone ashtray. But those who dealt cautiously throughout their life, have still survived and are making profits. ECONOMY WATCH AND THE ECONOMIST institution has recently conducted a detailed study of the conditions of the surviving financial institutions and on the basis of their assets, quality of business and service, moneyflow, and fiscal management etc,and has recognized the following companies as the BEST TEN financial institutions in the world.
That list is narrated here for the benefit of those interested in Economics, and share markets. This is purely with academic interest.
Financial companies should be carefully selected while making credits or transactions. Otherwise, we will be in difficulties.
1. J.P. MORGAN CHASE AND CO
The company with its head office in New York has been to make out a huge profit of $ 2.1 billion, in the first quarter of the year 2009.It has branches in 50 countries , including India.This has good experience in off-shore banking and financing in stock markets.
2 CREDIT SUISSE
This 150 years old organization has its head office in Zurich, Switzerland. This is now the world Bank In the first Quarter of the year 2009, it got the profit of 200 crores Swiss Francs.
3. GOLDMAN SCATCHS
This institution with its head office in New York, has made a profit of $3.23 per share in the first quarter of this year. This was established in 1869 And now it has branches in many important countries in the world, including India.
4 BLACK STONE
This American Company provides services in managing properties and finances. Established in 1985, this company had suffered a huge loss of $82.7 crores in the last quarter of 2008. But it recovered so intelligently that in the first quarter of 2009. the loss came down to only $ 9.3 . It is sure that in later quarters of 2009, the insttuition has definitely made profits.
5 BANCO SYANTENDER
This bank with its head office in Syantender in Spain, is one of the oldest banks in the world. Established in 1857, this bank made a profit of 2100 crores of Euro Dollars.
6 Industrial and Commercial Bank of China.
It is the ‘Banking Giant of the world’.Has its central office in Beijing, the capital of China. .It is under the complete control of the government.It has the property worth $ 89300 crores.It is giant, considering the market value.
7 STANDARD CHARTERED BANK
Has its central office in London, this is functioning in more than 70 countries in the world.,including India. It gets most of its income from Afri8can and Middle –East countries.
8 RABO BANK
This bank has its head office in Utretch, in Holland. It is basically a co-operative financial institution.It is mainly depending on Agricultural income.
9 THE BANK OF NEW YORK MELAN
This, having its head office in New York, is mainly a property managing and security peroviding organization.The total assets value of this institution is $19.5,0000 crores.
10 BNP PARIBAS
This has its head office in Paris, France. This is th4 no.1 banking organization in Europe. it is now progressing in Asia and America also. It has gained a profit of 155 Euro Dollars in the first quarter of 2009
Now a days, internet banking is a common feature. It has so many good advantages. But, man can cheat even automated machines.Such acts have caused hardships to some banks.
Thus, it is the careful management and not getting blown away by the popularity gimmicks, that enables companies to survive and keep up their promises to people.
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