China’s banks have put in a storming performance in this year’s Top 1000 World Banks ranking. For the first time ever, a Chinese bank topped the ranking and as well as being the global leader in Tier 1 capital terms, ICBC is also the largest bank in assets, profits, deposits and by market capitalisation.
On top of this, Chinese banks hold all four top places in the highest profits table by institution and as a group, the 96 Chinese banks in the Top 1000 made $239bn – nearly $100bn more than US banks, which reported the second largest country total.
