The World’s Best Banks 2021: Financiers To The Looming Economic Recovery

The World’s Best Banks 2021: Financiers To The Looming Economic Recovery

Forbes releases it's third annual list of the world's best banks in partnership with market research firm Statista. A year ago, as the Coronavirus pandemic spread, the world entered lockdowns and the economy to ground to a halt. To keep businesses going and households current on their bills, policymakers leaned on banks like never before. The banking system became the crucial cog in which stimulus was filtered into the economy as a bridge to get to the other side of the pandemic. Lenders were able to raise record amounts of debt and equity for businesses building emergency stockpiles of cash, and they were integral in the distribution of stimulus payments and other economic relief. Mobile banking technologies helped consumers handle their finances from home, and financial markets displayed unwavering confidence in banks. With vaccines now being distributed worldwide, banks stand on the frontlines of an extraordinary success. The global economy is staged for a big comeback, led by the United States, where gross domestic product is expected to surge 5%-plus. Unemployment rates are quickly falling“”the U. S. economy added nearly one million jobs last month“”and job openings sit at record levels. Consumers inoculated from the virus are increasing their spending.