The Banker Top 1000 2013 Rankings_Press Release_WORLD
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Strictly embargoed until 00.01 BST 1 July 2013 CHINESE BANK TOPS WORLD BANKS RANKING FOR FIRST TIME LONDON: 1 July 2013: A Chinese bank has come top in The Banker’s Top 1000 World Banks ranking for the first time ever. ICBC (Industrial and Commercial Bank of China) has moved from third to first place on the back of a 15% increase in capital. Last year’s winner Bank of America fell back to third while JP Morgan stayed second. ICBC’s stellar performance marks a new high in the growing strength of the Chinese banks. China’s second largest bank China Construction Bank (CCB) also grew its capital by 15% and dislodged Citigroup from fifth place. The UK’s only bank in the top 10 is fourth-placed HSBC, which gains significant earnings from its Asian operations. China now has 96 banks in the Top 1000 ranking and holds four places in the Top 10. Its big four banks ICBC, CCB, Bank of China and Agricultural Bank of China head the table for the largest profits. Brian Caplen, editor of The Banker, says: “For several years now European and American banks have been stagnant and shrinking while Chinese banks have been expanding in line with the growth in the Chinese economy. On most measures they now score as well or better than Western banks but their big test will be how they cope as China’s growth slows over the next few years.” The total profits of the Top 1000 banks are now back close to pre-crisis levels overall but their distribution is very uneven. Before the crisis European banks accounted for 46% of global profits and 58% of total assets (2006). Now they have 43% of assets and a meagre 1.58% of profits. Asia’s banks have moved in the other direction increasing their assets from 22% of the total to 35% and their profits from 19% to 56%. Though European banks continue to perform badly, one of the best European performers is Turkey where the banks grew profits by 37%. Spanish banks together lost $73bn accounting for nearly 5% of GDP. In a table of the 10 largest losses six of the banks are Spanish. Globally, Africa’s banks have doubled their share of profits from 1.15% in 2006 to 2.31% now and central and south America’s share has nearly tripled from 2.37% to 6.37% over the same period. - ends –
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Bank rankings
Transcript of The Banker Top 1000 2013 Rankings_Press Release_WORLD
Strictly embargoed until 00.01 BST 1 July 2013
CHINESE BANK TOPS WORLD BANKS RANKING FOR FIRST TIME
LONDON: 1 July 2013: A Chinese bank has come top in The Banker’s Top 1000 World Banks
ranking for the first time ever. ICBC (Industrial and Commercial Bank of China) has moved
from third to first place on the back of a 15% increase in capital. Last year’s winner Bank of
America fell back to third while JP Morgan stayed second.
ICBC’s stellar performance marks a new high in the growing strength of the Chinese banks.
China’s second largest bank China Construction Bank (CCB) also grew its capital by 15% and
dislodged Citigroup from fifth place. The UK’s only bank in the top 10 is fourth-placed HSBC,
which gains significant earnings from its Asian operations.
China now has 96 banks in the Top 1000 ranking and holds four places in the Top 10. Its big
four banks ICBC, CCB, Bank of China and Agricultural Bank of China head the table for the
largest profits.
Brian Caplen, editor of The Banker, says: “For several years now European and American
banks have been stagnant and shrinking while Chinese banks have been expanding in line with
the growth in the Chinese economy. On most measures they now score as well or better than
Western banks but their big test will be how they cope as China’s growth slows over the next
few years.”
The total profits of the Top 1000 banks are now back close to pre-crisis levels overall but their
distribution is very uneven. Before the crisis European banks accounted for 46% of global
profits and 58% of total assets (2006). Now they have 43% of assets and a meagre 1.58% of
profits. Asia’s banks have moved in the other direction increasing their assets from 22% of the
total to 35% and their profits from 19% to 56%.
Though European banks continue to perform badly, one of the best European performers is
Turkey where the banks grew profits by 37%. Spanish banks together lost $73bn accounting
for nearly 5% of GDP. In a table of the 10 largest losses six of the banks are Spanish.
Globally, Africa’s banks have doubled their share of profits from 1.15% in 2006 to 2.31% now
and central and south America’s share has nearly tripled from 2.37% to 6.37% over the same
period.
- ends –
Top 10 global banks ranked by Tier 1 Capital
Top 10 global banks ranked by losses
Top five UK banks
For further information please contact: UK/EMEA:Sin Yee HonCommunications ExecutiveT: 020 7873 3811M: 07887 656 128E: [email protected]
US:Andrew GreenCommunications ManagerT: (+1) 917 551 5093E: [email protected]
Launch PRAlex Black, Joseph Potts Tel: +44 (0)20 7758 3917/18/34Email: [email protected] or [email protected]
About The Banker: The Banker is the world's premier banking and finance resource, providing global financial intelligence since 1926.
The Banker is the key source of data and analysis for the industry. The Banker’s Top 1000 World Banks ranking has been setting the industry benchmark since 1970, providing comprehensive intelligence about the health and wealth of the banking sector. To find out more visit www.thebanker.com/top1000worldbanks.
Brian Caplen has been a financial and business journalist for more than 25 years He has worked in Hong Kong and the Middle East and reported from all over the world. He joined The Banker in 2000 and became editor in 2003.
About The Banker DatabaseThe Banker Database provides comprehensive financial data, news feeds and executive contact data on the leading banks in every country. Our data has been standardised for regional reporting and regulatory variations, and forms the basis of The Banker's monthly bank rankings.
Over the past five decades our rankings have become the industry standard for measuring bank performance and strength. The database tracks banks in more than 190 jurisdictions representing 90% of the world’s total banking assets. To find out more about The Banker Database visit www.thebankerdatabase.com.
About the Financial Times: The Financial Times, one of the world’s leading business news organisations, is recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of more than 600,000 (Deloitte assured, Q1 2013). Mobile is an increasingly important channel for the FT, driving a third of FT.com traffic and 15% of digital subscriptions. FT education products now serve 25 of the world’s top 50 business schools.
