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World's Largest Bank Now in China

July 5th, 2013
in econ_news, syndication

by Felix Richter, Statista.com

statistalogo

For the very first time, a Chinese bank has been ranked as the world’s largest. The Banker magazine compiles an annual list of the world’s top 1,000 banks, using Tier 1 capital to measure an institution’s ability to conduct large scale lending and endure shocks.

Highlighting the growing size and power of the Chinese banking sector, Industrial and Commercial Bank of China (ICBC) has soared to the top of the list, displacing Bank of America and JPMorgan Chase in the process. The former has fallen from first place to third, while the latter remains second.

Follow up:

Britain’s HSBC Holdings comes in fourth while another Chinese group, the China Construction Bank Corporation, rounds off the top five. Interestingly, China now has four banks in the top 10 of the Banker magazine’s list, matching the United States.

This chart illustrates the top global banks based on Tier 1 Capital

chinese-bank-tops-world-rankings-for-the-first-time
You will find more statistics at Statista

 









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