Moody’s recent downgrade of 15 of the world’s largest banks, along with JP Morgan Chase & Co.’s (NYSE: JPM) multibillion trading loss, make it clear that certain big banks are just not as safe as depositors might have hoped. Still, consumers have to keep their money somewhere.
24/7 Wall St. has compiled a list of the safest banks to help consumers navigate through continued difficult times. The criteria were very strict. We focused on the universe of the money-center banks, super-regional banks and banks with retail branches that encompass several states
24/7 screened for banks with a market capitalization of more than $2 billion. We further screened for banks whose share value is be less than 14 times earnings (P/E ratio). The share price to book value had to be less than 2.0. The bank had to have a minimum return…
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