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Daily Dutch News in English

Netherlands ranks 7th in international banking

The Netherlands ranks 7th in international banking and has overtaken Switzerland as an international financial center.

According to figures by the Bank for International Settlements (BIS) published Tuesday.

The Bank for International Settlements (BIS) is an international organization, which fosters international monetary and financial cooperation and serves as a bank for central banks. BIS measured each quarter the international positions of all banks in the 43 largest economies in the world.

The BIS is looking at taking all cross-border transactions by Dutch banks abroad and of foreign banks and from the Netherlands.

The Netherlands fares better than other countries because the Dutch financial institutions are less hard hit by the economic crisis.