Liechtenstein's banking centre one of the most stable in the world
As part of its Banking Industry Country Risk Assessment (BICRA), S&P Global Ratings has once again placed the Liechtenstein banking sector in Group '2'.
The classification of Liechtenstein's banking centre in Group '2' of the Banking Industry Country Rating Assessment (BICRA) is one of the best ratings among the 86 banking systems assessed worldwide, according to S&P. Other jurisdictions in Group '2' are Switzerland, Luxembourg, Singapore, and Hong Kong.
According to the BICRA report published yesterday, S&P finds that the Liechtenstein banking sector has proven resilient in 2020 with only an insignificant increase in credit losses. S&P is convinced that the economy will show a strong recovery in 2021. S&P therefore continues to see the development of economic risk and industry risk as stable.
Already in its semi-annual research update at the end of November 2020, the international rating agency Standard & Poor's (S&P) once again confirmed Liechtenstein's country rating of AAA, the best rating possible. Although S&P expected the Liechtenstein economy to slow down due to the COVID-19 pandemic, it nevertheless considered Liechtenstein to be well equipped for the future thanks to its healthy financial position (no public debt) and rated it as one of the few countries worldwide with the highest rating of AAA and a positive outlook (see also our earlier release in this regard).
With these two ratings, Liechtenstein and its banking centre are among the most stable locations worldwide.
S&P's extensive BICRA report can be downloaded here in the password-protected area.
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