Over the past 10 years, almost 21,000 branches have closed in Spain. By comparison Germany has closed 14,000; and Italy 10,000.

Uncertain political situation after president sacks prime minister likely to affect the operating environment for Tunisian banks.

Gulf country's banks are the main regional gainers in this year’s ranking, as loan books continued to rise healthily.

Bank profitability forecast to improve in the near term on the back of a decline in provisions after a pandemic-related spike in 2020.

The country’s economy is forecast to grow 6% this year on the back of a recovery of consumption and increase in public investments.

Reliance on net interest income as a key driver of operating revenue could lead to ongoing profitability weakness.

The US saw a 106.1% year-on-year increase in money set aside in case of bad loans, according to the Top 1000 World Banks ranking.

Leading lenders in Brazil, Mexico and Colombia saw profits slump last year. 

Eight out of the nine African countries represented within the Top 1000 World Banks ranking saw aggregate pre-tax profits decrease year on year.

As capital levels at Chinese banks continue to grow significantly, banks from the Asia-Pacific region now make up 385 of the Top 1000 World Banks ranking in 2021.