Global profits have increased by nearly 25% in The Banker’s Top 1000 World Banks ranking for 2014.
Global profits for The Banker’s Top 1000 World Banks ranking for 2014, based on financial results for the end of 2013, have jumped by almost 23%, to $920bn. This means annual profits have for the first time exceeded the pre-crisis peak of $786bn in the 2007 ranking.
Western Europe’s percentage of global banking profits has risen almost seven-fold in the 2014 ranking, although it still represents just 11.1% of world profits. The peripheral eurozone accounts for two of the top five increases in profit in the world. That includes the number one improvement – Spain’s $85bn increase, returning to a still rather modest profit of $12.7bn.
The increase in profits in China is more than $50bn: the second highest improvement in the world after Spain’s recovery from losses. The only other major economy witnessing this kind of profit acceleration is the US, where profits recovered strongly after the 2008 crash, but remain below the pre-crisis peak of 2006.
For more on this year's pre-tax profits, and for the full results of The Banker’s Top 1000 World Banks ranking 2014, read full story, Top 1000 World Banks 2014: Back on track?
