Report: Wells Fargo and U.S. Bank safest in U.S.

Minneapolis / St. Paul Business Journal
Friday, March 6, 2009, 11:19am CST | Modified: Friday, March 6, 2009, 11:43am


Wells Fargo & Co. and U.S. Bancorp are the two safest banks in America, according to an analysis of the world's banks.

According to Global Finance, which will publish its analysis, “World’s 50 Safest Banks” in its April issue, international banks dominate the rankings, which show the effects of the subprime mortgage meltdown and credit crisis brought on by large Wall Street players. San Francisco-based Wells Fargo is the top-rated U.S. bank at No. 21. European banks now dominate the rankings, with only four U.S. banks among the listing.

Wells Fargo (NYSE: WFC) is followed by US Bancorp (NYSE:USB) at No. 26, The Bank of New York Mellon (NYSE:BK) at No. 35 and JPMorgan Chase & Co. (NYSE:JPM) — which has merged with Washington Mutual Inc. — at No. 47.

The listings compare long-term credit ratings and other performance measurements and assets.