Banking System Z-Scores

Global Ranking

Source: IMF

Current Rank	Country	Value	Latest Reading	Previous Rank	Previous Value

1	Monaco	142.6	2002	1	54.33
2	Jordan	52.39	2020	2	54.08
3	Sweden	45.66	2020	3	48.67
4	New Zealand	45	2020	4	44.91
5	Morocco	44.99	2020	5	43.51
6	Sri Lanka	42.36	2020	6	43.22
7 ↑	Turkmenistan	40.62	2019	11	37.18
8 ↓	Panama	37.95	2020	7	43.01
9 ↑	Iraq	37.56	2020	108	13.4
10 ↑	Mongolia	36.47	2020	14	34.72
11 ↓	Fiji	36.09	2020	9	38.31
12 ↓	Dominican Republic	34.41	2020	8	38.53
13 ↑	Tunisia	33.93	2020	109	13.34
14 ↑	Malaysia	31.18	2020	54	20.54
15	Austria	30.67	2020	15	34.34
16 ↓	United States	30.28	2020	13	35.09
17 ↑	Denmark	30.02	2020	19	31.11
18 ↓	Nepal	30.01	2020	16	32.67
19 ↑	Haiti	29.68	2020	31	25.06
20 ↓	Guatemala	29.31	2020	18	31.15
21 ↑	Andorra	29.06	2020	24	27.39
22 ↑	Netherlands	28.49	2020	53	20.59
23 ↓	Israel	28.47	2020	17	32.31
24 ↓	Sudan	27.59	2012	10	37.35
25 ↑	Cape Verde	27.3	2020	33	24.41
26 ↓	Honduras	27.14	2020	22	28.61
27 ↓	Guinea	26.34	2020	25	26.91
28 ↑	Cambodia	25.99	2020	29	26.27
29 ↓	France	25.94	2020	23	27.92
30 ↓	Bangladesh	25.77	2020	28	26.38
31 ↓	Guyana	25.6	2020	21	28.83
32 ↓	Luxembourg	24.5	2020	30	25.92
33 ↓	Lesotho	24.25	2020	26	26.87
34 ↑	China	23.97	2020	35	24.11
35 ↓	Germany	23.95	2020	20	29.18
36 ↑	Mauritania	23.53	2020	49	21.98
37 ↑	Mexico	22.67	2020	43	23.11
38 ↑	Macao	22.64	2020	40	23.44
39 ↓	Egypt	22.59	2020	34	24.16
40 ↓	Seychelles	22.58	2019	36	23.99
41 ↑	Malawi	22.41	2014	60	19.44
42 ↓	United Arab Emirates	22.36	2020	32	24.85
43 ↓	Algeria	22.13	2019	37	23.96
44 ↑	Namibia	22.1	2019	46	22.61
45 ↓	Malta	21.87	2020	38	23.8
46 ↑	Slovakia	21.81	2019	47	22.45
47 ↓	Saudi Arabia	21.54	2020	42	23.17
48 ↓	Trinidad and Tobago	21.36	2020	27	26.78
49 ↑	Albania	21.18	2020	50	21.69
50 ↓	Rwanda	20.98	2020	41	23.32
51 ↑	Swaziland	20.65	2014	61	19.23
52 ↓	Libya	20.38	2019	12	35.16
53 ↓	Costa Rica	20.37	2020	45	22.73
54 ↓	Hong Kong	19.97	2020	52	20.82
55 ↑	Djibouti	19.46	2019	56	20.08
56 ↓	Bermuda	19.42	2020	51	21.43
57 ↓	India	19.36	2020	39	23.51
58	Oman	19.32	2020	58	19.78
59 ↑	Lebanon	19.25	2020	86	15.86
60 ↓	Philippines	19.03	2020	48	22.28
61 ↓	Qatar	18.91	2020	55	20.15
62 ↑	Burundi	18.7	2020	70	17.48
63 ↓	Finland	18.69	2020	44	22.79
64 ↑	Singapore	18.65	2019	65	18.15
65 ↓	El Salvador	18.4	2020	57	19.89
66 ↓	Kenya	18.37	2020	61	19.23
67 ↓	Jamaica	17.56	2020	64	18.43
68 ↑	Kyrgyzstan	17.55	2020	73	17.31
69 ↑	Laos	17.54	2020	112	13.08
70 ↑	Nicaragua	17.29	2014	76	17.09
71 ↑	Taiwan	17.23	2020	82	16.43
72 ↑	Vietnam	17.09	2020	91	15.37
73 ↑	Norway	17.08	2020	84	16.2
74	Ivory Coast	17	2020	74	17.15
75 ↑	Venezuela	16.64	2020	123	10.72
76 ↓	Belarus	16.5	2020	69	17.52
77	United Kingdom	16.24	2020	77	17.07
78 ↓	Chad	16.22	2013	75	17.14
79 ↓	Afghanistan	16.1	2020	67	17.9
80 ↑	Yemen	15.92	2018	81	16.48
81 ↓	Kuwait	15.62	2020	71	17.41
82 ↓	Paraguay	15.57	2020	78	16.77
83 ↓	Brazil	15.44	2020	66	17.98
84 ↑	Madagascar	15.34	2019	85	16.09
85 ↑	Senegal	15.33	2019	102	14.09
86 ↓	Bosnia and Herzegovina	15.07	2020	80	16.55
87 ↓	Japan	14.87	2020	83	16.26
88 ↑	Iceland	14.81	2020	89	15.64
89 ↓	Maldives	14.79	2020	63	18.99
90 ↓	Antigua and Barbuda	14.74	2007	68	17.89
91 ↓	Portugal	14.69	2020	90	15.62
92 ↑	Ghana	14.53	2020	94	14.9
93 ↑	Niger	14.38	2019	106	13.57
94 ↑	Tanzania	14.35	2020	95	14.89
95 ↓	South Africa	14.25	2020	79	16.69
96 ↓	Peru	14.21	2020	59	19.59
97 ↓	Gabon	14.15	2019	93	15.1
98 ↑	Ethiopia	13.92	2020	100	14.22
99 ↓	Mali	13.65	2019	97	14.5
100 ↑	Papua New Guinea	13.47	2012	104	14.01
101 ↓	Nigeria	12.98	2020	100	14.22
102 ↑	Canada	12.96	2020	103	14.08
103 ↑	Ireland	12.85	2019	118	12.06
104 ↓	Armenia	12.68	2020	99	14.24
105 ↑	Serbia	12.41	2020	111	13.16
106 ↓	Latvia	12.34	2020	87	15.81
107 ↓	Turkey	12.33	2020	98	14.43
108 ↑	Benin	12.29	2019	115	12.37
109 ↑	Belgium	12.26	2020	110	13.3
110 ↑	Macedonia	11.95	2019	120	11.62
111 ↓	Switzerland	11.8	2020	105	13.98
111 ↑	Gambia	11.8	2019	117	12.16
113 ↓	Bahamas	11.54	2020	96	14.69
114 ↑	Zambia	11.49	2019	122	11
115 ↑	Pakistan	11.39	2020	124	10.59
116 ↓	Uganda	11.1	2020	107	13.53
117 ↑	Burkina Faso	10.98	2020	128	9.86
118 ↓	Italy	10.91	2020	116	12.19
119 ↓	Bhutan	10.85	2020	88	15.77
119 ↓	Barbados	10.85	2019	113	12.93
121 ↑	Australia	10.81	2020	142	8.35
122 ↓	South Korea	10.62	2020	121	11.06
123 ↑	Liberia	10.18	2019	127	9.99
124 ↓	Uzbekistan	10.16	2020	114	12.84
125 ↑	Syria	9.84	2020	167	2.76
126 ↓	Mauritius	9.79	2020	72	17.32
127 ↓	Argentina	9.7	2020	126	10.45
128 ↑	Togo	9.53	2019	135	8.84
129 ↑	Romania	9.46	2020	134	8.94
130 ↑	Montenegro	9.42	2019	136	8.79
131 ↑	Cameroon	9.07	2019	138	8.64
132 ↓	Ecuador	9.04	2020	125	10.57
133 ↓	Moldova	8.92	2020	129	9.67
134 ↓	Belize	8.89	2019	132	9.27
135 ↓	Cyprus	8.35	2020	130	9.3
136 ↑	Burma (Myanmar)	8.27	2019	149	7.48
137 ↓	Angola	8.24	2020	92	15.35
138 ↓	Russia	8.18	2020	133	9.08
139 ↓	Bolivia	7.96	2020	130	9.3
140 ↓	Czech Republic	7.95	2020	139	8.46
141 ↑	Hungary	7.92	2019	143	8.19
142 ↓	Estonia	7.81	2020	140	8.44
143	Bulgaria	7.71	2020	143	8.19
144 ↑	San Marino	7.63	2013	146	7.74
145 ↓	Colombia	7.37	2020	141	8.39
146 ↓	Bahrain	7.24	2020	137	8.65
147 ↑	Lithuania	6.84	2014	152	7.15
148 ↑	Botswana	6.82	2019	156	6.89
149 ↓	Thailand	6.8	2020	119	11.86
150 ↓	Zimbabwe	6.72	2020	148	7.51
151 ↑	Croatia	6.62	2020	157	6.88
152 ↓	Chile	6.48	2020	147	7.69
153 ↑	Suriname	6.39	2018	159	5.97
154 ↑	Poland	6.18	2020	155	7.03
155 ↓	Ukraine	6.16	2020	145	8.12
156 ↓	Georgia	5.68	2020	153	7.05
157 ↑	Azerbaijan	5.49	2020	160	5.42
158 ↓	Greece	5.42	2014	150	7.46
159 ↓	Mozambique	5.34	2020	158	6.23
160 ↓	Democratic Republic of the Congo	5.06	2020	151	7.43
161	Uruguay	5.02	2020	161	5.24
162 ↑	Saint Lucia	4.9	2018	164	3.84
163	Indonesia	4.52	2020	163	4.53
164 ↓	Spain	4.23	2020	162	5.12
165 ↑	Sierra Leone	4.17	2017	168	2.13
166 ↓	Slovenia	3.59	2020	165	3.69
167 ↓	Kazakhstan	2.63	2020	166	3
168 ↓	Tajikistan	1.91	2020	154	7.04

Definition of Banking System Z-Scores

The index captures the probability of default of a country's banking system. Z-score compares the buffer of a country's banking system (capitalization and returns) with the volatility of those returns. It is estimated as (ROA+(equity/assets))/sd(ROA); sd(ROA) is the standard deviation of ROA. ROA, equity, and assets are country-level aggregate figures. Calculated from underlying bank-by-bank unconsolidated data from Bankscope.