Brexit the safest ports english translation

BREXIT: THE SAFEST PORTS – ENGLISH TRANSLATION

To view the original article in German click here.

Friday, June 24, 2016 13:502

TBC Bank, Georgia

Following Brexit, many bank customers are worried about the safety of their money. A lawyer has researched and found the most secure institutions.

In Switzerland, banking assets are guaranteed by the Deposit Protection up to an amount of CHF 100,000. The financial crisis in 2008 was the shock event that brought so many investors into alarm and fear. Brexit also seems to have this potential especially since the effects are still completely unclear.

Where, just in case, would money be even safer despite deposit protection? Christian Hirschbiel, German lawyer, and Head of Wealth Structuring at BNP Paribas in Germany, has researched and recommends in «Private Banking Magazine» the following financial institutions.

Publication – June 2016 - English Translation Private Banker Magazine

CAPITAL SECURITY BANK LIMITED

1. Capital Security Bank in the Cook Islands

Located in the Cook Islands Capital Security Bank (CSB) is always 100% liquid, because it does not lend out depositor funds secured by illiquid assets. CSB makes its money with account fees and the transfer of overnight allowances to big banks world-wide, especially in Europe.

An on-site visit is not required for an account opening.

2. Caye Bank, Belize

Belize's banking supervisory authority is committed to maintaining a liquidity reserve of at least 24 percent. Caye Bank holds nearly 40 percent.

Publication – June 2016 - English Translation Private Banker Magazine

CAPITAL SECURITY BANK LIMITED

The bank also offers real estate-secured loans up to 50 percent of the real estate value worldwide. The bank is responsible itself for the value appraisal. An on-site visit is not required for an account opening.

3. DNB Bank, Norway

Norway's largest bank (Photo: CEO Rune Bjerke) has liquidity of nearly half of its customer deposits. The Norwegian Central Bank is the best capitalized worldwide. This means the Norwegian crown has the best chance to survive a global financial crisis. An on-site visit is not required for an account opening.

4. TBC Bank, Georgia

This bank was crises-tested in 2008, due to a "bank run" that took place during the short war with Russia. Every single customer got their money. Currently TBC has around a quarter liquidity compared to deposits.

There is 2.5 percent interest paid on Euro daily allowance.

You have to be on site to open an account. After that, however, everything can go through the online banking.

Publication – June 2016 - English Translation Private Banker Magazine

CAPITAL SECURITY BANK LIMITED

4. DBS or UOB, Singapore

In Singapore, there has never been a bankruptcy and DBS has a liquidity reserve of around 20 percent, while the United Overseas Bank has a liquidity reserve of around 35 percent.

The service quality and online banking of Singapore Institutes maintain high standards, and the financial center is regarded as exemplary.

Publication – June 2016 - English Translation Private Banker Magazine

CAPITAL SECURITY BANK LIMITED