Banking system z-scores - Country rankings

* indicates monthly or quarterly data series

Banking system z-scores, 2021:

The average for 2021 based on 136 countries was 17.25 index points. The highest value was in Luxembourg: 51.67 index points and the lowest value was in Iceland: 1.28 index points. The indicator is available from 2000 to 2021. Below is a chart for all countries where data are available.

Measure: index points; Source: Bankscope
Select indicator
* indicates monthly or quarterly data series


Countries Banking system z-scores, 2021 Global rank Available data
Luxembourg 51.67 1 2000 - 2021
Jordan 50.11 2 2000 - 2021
New Zealand 44.78 3 2006 - 2021
Morocco 42.4 4 2000 - 2021
Panama 40.39 5 2000 - 2021
Sweden 39.35 6 2000 - 2021
Tunisia 38.68 7 2000 - 2021
Iraq 37.25 8 2005 - 2021
Mongolia 36.25 9 2000 - 2021
Sri Lanka 35.09 10 2011 - 2021
Fiji 33.01 11 2015 - 2021
Domin. Rep. 32.58 12 2000 - 2021
USA 31.06 13 2000 - 2021
Austria 30.91 14 2000 - 2021
Guatemala 30.72 15 2000 - 2021
Israel 29.3 16 2000 - 2021
Nepal 28.87 17 2000 - 2021
Singapore 28.63 18 2000 - 2021
Honduras 28.6 19 2000 - 2021
Cape Verde 27.09 20 2008 - 2021
Cambodia 26.77 21 2002 - 2021
Denmark 26.42 22 2000 - 2021
Guyana 26.12 23 2000 - 2021
Nicaragua 25.13 24 2000 - 2021
China 25.02 25 2000 - 2021
Afghanistan 24.92 26 2006 - 2021
Saudi Arabia 24.37 27 2000 - 2021
Philippines 24.13 28 2000 - 2021
Mexico 23.75 29 2000 - 2021
Namibia 23.72 30 2005 - 2021
Kenya 23.23 31 2000 - 2021
UA Emirates 22.29 32 2000 - 2021
Tanzania 22.18 33 2004 - 2021
Rwanda 21.42 34 2001 - 2021
Tr.&Tobago 21.36 35 2000 - 2021
Malaysia 20.72 36 2000 - 2021
Egypt 20.6 37 2000 - 2021
El Salvador 20.57 38 2000 - 2021
Macao 20.26 39 2000 - 2021
Lebanon 20.19 40 2000 - 2021
France 19.98 41 2000 - 2021
Hong Kong 19.75 42 2000 - 2021
Oman 19.64 43 2000 - 2021
Costa Rica 19.61 44 2000 - 2021
Laos 19.48 45 2008 - 2021
India 19.44 46 2000 - 2021
Albania 19.06 47 2000 - 2021
Ivory Coast 19.02 48 2000 - 2021
Slovakia 18.93 49 2000 - 2021
Bermuda 18.73 50 2009 - 2021
Burundi 18.7 51 2000 - 2021
Qatar 18.46 52 2000 - 2021
Malta 18.41 53 2000 - 2021
UK 18.11 54 2000 - 2021
Taiwan 17.83 55 2000 - 2021
Paraguay 17.13 56 2000 - 2021
Belarus 17.12 57 2000 - 2021
Finland 17.11 58 2000 - 2021
Peru 16.94 59 2000 - 2021
Lesotho 16.92 60 2000 - 2021
Spain 16.92 61 2000 - 2021
Uganda 16.68 62 2000 - 2021
Kuwait 16.58 63 2000 - 2021
Brazil 16.35 64 2000 - 2021
Portugal 16.09 65 2000 - 2021
Germany 16.05 66 2000 - 2021
Angola 15.55 67 2001 - 2021
Jamaica 15.48 68 2002 - 2021
South Africa 15.46 69 2000 - 2021
Belgium 15.45 70 2000 - 2021
Switzerland 15.34 71 2000 - 2021
Tajikistan 15.34 72 2005 - 2021
Bosnia & Herz. 15.29 73 2000 - 2021
Vietnam 14.66 74 2000 - 2021
Kyrgyzstan 14.62 75 2000 - 2021
Malawi 14.51 76 2000 - 2021
Australia 14.15 77 2000 - 2021
Barbados 13.96 78 2000 - 2021
Ghana 13.92 79 2005 - 2021
Canada 13.85 80 2000 - 2021
Bahamas 13.23 81 2000 - 2021
Italy 13.17 82 2000 - 2021
Netherlands 13.04 83 2000 - 2021
Japan 12.86 84 2000 - 2021
Bangladesh 12.78 85 2000 - 2021
Venezuela 12.7 86 2000 - 2021
Norway 12.57 87 2000 - 2021
Bhutan 12.46 88 2013 - 2021
Armenia 12.32 89 2000 - 2021
Nigeria 12.19 90 2000 - 2021
Ethiopia 11.56 91 2000 - 2021
Haiti 11.55 92 2003 - 2021
Uzbekistan 11.21 93 2000 - 2021
Ireland 10.99 94 2000 - 2021
Mauritius 10.95 95 2000 - 2021
Serbia 10.35 96 2000 - 2021
Czechia 10.34 97 2000 - 2021
Romania 10.34 98 2000 - 2021
South Korea 10.19 99 2000 - 2021
Liberia 9.72 100 2015 - 2021
North Macedonia 9.52 101 2000 - 2021
Ecuador 9.51 102 2000 - 2021
Argentina 9.08 103 2000 - 2021
Botswana 9 104 2000 - 2021
Montenegro 8.93 105 2003 - 2021
Zambia 8.86 106 2000 - 2021
Pakistan 8.85 107 2000 - 2021
Syria 8.79 108 2004 - 2021
Moldova 8.72 109 2000 - 2021
Estonia 8.42 110 2000 - 2021
Bolivia 8.32 111 2000 - 2021
Zimbabwe 8.08 112 2000 - 2021
Georgia 7.91 113 2000 - 2021
Thailand 7.88 114 2000 - 2021
Bulgaria 7.87 115 2000 - 2021
Bahrain 7.81 116 2000 - 2021
Burma 7.59 117 2005 - 2021
Chile 7.45 118 2000 - 2021
Croatia 7.39 119 2000 - 2021
Turkey 7.29 120 2000 - 2021
Latvia 7.11 121 2000 - 2021
Hungary 7.07 122 2000 - 2021
Mozambique 7.06 123 2001 - 2021
Poland 7.05 124 2000 - 2021
Russia 6.87 125 2000 - 2021
Greece 6.64 126 2004 - 2021
Uruguay 6.08 127 2000 - 2021
Cyprus 6.07 128 2000 - 2021
Indonesia 5.27 129 2000 - 2021
Ukraine 5.18 130 2000 - 2021
Lithuania 5.12 131 2000 - 2021
Azerbaijan 4.74 132 2000 - 2021
Slovenia 4.49 133 2000 - 2021
Colombia 4.32 134 2000 - 2021
Kazakhstan 2.95 135 2000 - 2021
Iceland 1.28 136 2000 - 2021



Definition: 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.

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1. Luxembourg
2. Jordan
3. New Zealand
4. Morocco
5. Panama
6. Sweden
7. Tunisia
8. Iraq
9. Mongolia
10. Sri Lanka
11. Fiji
12. Domin. Rep.
13. USA
14. Austria
15. Guatemala
16. Israel
17. Nepal
18. Singapore
19. Honduras
20. Cape Verde
21. Cambodia
22. Denmark
23. Guyana
24. Nicaragua
25. China
26. Afghanistan
27. Saudi Arabia
28. Philippines
29. Mexico
30. Namibia
31. Kenya
32. UA Emirates
33. Tanzania
34. Rwanda
35. Tr.&Tobago
36. Malaysia
37. Egypt
38. El Salvador
39. Macao
40. Lebanon
41. France
42. Hong Kong
43. Oman
44. Costa Rica
45. Laos
46. India
47. Albania
48. Ivory Coast
49. Slovakia
50. Bermuda
51. Burundi
52. Qatar
53. Malta
54. UK
55. Taiwan
56. Paraguay
57. Belarus
58. Finland
59. Peru
60. Lesotho
61. Spain
62. Uganda
63. Kuwait
64. Brazil
65. Portugal
66. Germany
67. Angola
68. Jamaica
69. South Africa
70. Belgium
71. Switzerland
72. Tajikistan
73. Bosnia & Herz.
74. Vietnam
75. Kyrgyzstan
76. Malawi
77. Australia
78. Barbados
79. Ghana
80. Canada
81. Bahamas
82. Italy
83. Netherlands
84. Japan
85. Bangladesh
86. Venezuela
87. Norway
88. Bhutan
89. Armenia
90. Nigeria
91. Ethiopia
92. Haiti
93. Uzbekistan
94. Ireland
95. Mauritius
96. Serbia
97. Czechia
98. Romania
99. South Korea
100. Liberia
101. North Macedonia
102. Ecuador
103. Argentina
104. Botswana
105. Montenegro
106. Zambia
107. Pakistan
108. Syria
109. Moldova
110. Estonia
111. Bolivia
112. Zimbabwe
113. Georgia
114. Thailand
115. Bulgaria
116. Bahrain
117. Burma
118. Chile
119. Croatia
120. Turkey
121. Latvia
122. Hungary
123. Mozambique
124. Poland
125. Russia
126. Greece
127. Uruguay
128. Cyprus
129. Indonesia
130. Ukraine
131. Lithuania
132. Azerbaijan
133. Slovenia
134. Colombia
135. Kazakhstan
136. Iceland
51.67
50.11
44.78
42.40
40.39
39.35
38.68
37.25
36.25
35.09
33.01
32.58
31.06
30.91
30.72
29.30
28.87
28.63
28.60
27.09
26.77
26.42
26.12
25.13
25.02
24.92
24.37
24.13
23.75
23.72
23.23
22.29
22.18
21.42
21.36
20.72
20.60
20.57
20.26
20.19
19.98
19.75
19.64
19.61
19.48
19.44
19.06
19.02
18.93
18.73
18.70
18.46
18.41
18.11
17.83
17.13
17.12
17.11
16.94
16.92
16.92
16.68
16.58
16.35
16.09
16.05
15.55
15.48
15.46
15.45
15.34
15.34
15.29
14.66
14.62
14.51
14.15
13.96
13.92
13.85
13.23
13.17
13.04
12.86
12.78
12.70
12.57
12.46
12.32
12.19
11.56
11.55
11.21
10.99
10.95
10.35
10.34
10.34
10.19
9.72
9.52
9.51
9.08
9.00
8.93
8.86
8.85
8.79
8.72
8.42
8.32
8.08
7.91
7.88
7.87
7.81
7.59
7.45
7.39
7.29
7.11
7.07
7.06
7.05
6.87
6.64
6.08
6.07
5.27
5.18
5.12
4.74
4.49
4.32
2.95
1.28
0
12.9
25.8
38.8
51.67


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