Best Private Banks in Asia

HSBC Private Bank - It was awarded Best Private Bank in Asia for the third year by the Euromoney Private Banking Survey 2011. The Bank was also rated No. 3 globally for "best private banking services overall" and No. 2 in the Middle East. First place rankings were also achieved in the following key categories: No. 1 for High Net Worth (US$1–10 million); No. 1 for Islamic Banking Services; and No. 1 for Lending/ Financing Solutions.

J.P. Morgan - In 2011, it was awarded No.1 Private Bank for "Ultra High Net Worth" individuals in Hong Kong and Singapore by Euromoney. In addition, it was ranked as "Best Private Bank in Asia" for the first time by The Asset.

Credit Suisse - It is consistently recognized for the excellent quality of its services to high and ultra high net worth individuals in the region. Credit Suisse has been named the Best Private Bank in Asia and in Singapore by The Asset.

Citi - With a presence in Asia for over 100 years, Citi is the largest wealth manager in Asia Pacific and was ranked the Best Private Bank in Asia in 2011 by FinanceAsia.

UBS - In 2012, UBS was named the Best Private Bank in Asia for Ultra High Net Worth category by Euromoney, and the Best Private Bank in Asia by Asian Private Banker.

Standard Chartered - It has won many awards including the “Best Global Private Bank” award at the Wealth Management Awards 2011 organized by The Financial Times and Investors Chronicle, “The Best Private Bank in Asia” award by The Banker in 2010, etc.

* Next: Safest Banks in Asia

How to Find Time in Simple Interest

Formula:
t = I / Pr
Where: t = time in years, r = interest rate, I =simple interest, P = principal

Learn how to calculate time in simple interest with the following examples:

Question 1:
How long would it take for a principal of $220,000 to earn an interest of $23,100 at a rate of 3.5 percent per year?
Solution:
t = I / Pr = 23,100 / (220,000 * 0.035) = 23,100 / 7700 = 3
Thus, it would take 3 years.

Question 2:
Alfred borrowed $40,000 at a rate of 5% per annum. The amount owing at the end of the period was $55,000. For how long was the sum borrowed?
Solution:
I = 55,000 - 40,000 = $15,000
t = I / Pr = 15,000 / (40,000 * 0.05) = 15,000 / 2,000 = 7.5 years
The sum was borrowed for 7.5 years.

* Next: How to Find Simple Interest Rate

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