Desjardins Group, Canada's largest cooperative financial group, climbed from 25th to 20th on Global Finance's list of the World's 50 Safest Banks 2011. Holding strong at fourth in North America, Desjardins continues to outstrip all major American banks.
"It's gratifying that Desjardins has been able to make a name for itself both in North America and worldwide," says Monique F. Leroux, president, CEO and chair of the board at Desjardins. "Our cooperative group has always been known for prudent management and long-term vision. By keeping its capital ratio well above the minimum regulatory requirements, Desjardins will be able to continue to offer competitive products and services to its members and clients, and continue to grow."
Awarded the title "Bank of the Year 2010 – Canada" by the UK magazine The Banker, Desjardins is the leading cooperative financial group in Canada and the sixth largest in the world, with assets of over $188 billion.
The Big 5 Canadian banks also made the list (RBC 11th, TD 13th, Scotiabank tied for 18th, BMO 30th, CIBC tied for 31st).