Bloomberg ranks Desjardins Group world's second strongest bank

Tuesday, July 15, 2014

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Québec’s Desjardins Group is the world’s second strongest financial institution, according to Bloomberg’s latest ranking released on June 15, 2014.

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The No. 2 spot makes Desjardins the strongest financial institution in North America, outranking other Canadian and U.S. banks. Desjardins tied for second overall with Norinchukin Bank of Japan. Last year, it ranked 13th among top-performing banks.

Desjardins Group is the leading cooperative financial group in Canada and the fifth largest cooperative financial group in the world with assets of C$223 billion. CEO Monique Leroux presides over a network of 376 “caisses” mostly in Quebec and in Ontario. Desjardins serves more than 6 million members and clients and employs 45,000 workers.

Bloomberg bases its rankings on five weighted ratios, including the Tier 1 capital to risk-weighted assets ratio. In total, 97 banks were ranked.

Desjardins Group
Bloomberg Markets