Singapore banks ranked safest in Asia, according to Global Finance magazine

Singapore lenders - DBS Bank, OCBC Bank and United Overseas Bank (UOB) - once again dominated a ranking of Asia's safest banks, taking the top three positions.

DBS was not only deemed the safest bank in Asia by New York-based trade publication Global Finance, but also came in second on its list of the safest commercial banks in the world, up one spot from the year before.

OCBC and UOB were close behind, at fourth and fifth respectively. DBS also moved one place up to 11th on the global safest bank list.

Asian banks put in a strong showing in the top 20, with OCBC and UOB coming in 13th and 14th respectively.

"Asia has been one of the strongest regions globally in the past year, while other parts of the world are wrecked by economic uncertainty," said Global Finance publisher and editorial director Joseph D. Giarraputo.