Annual data collected by The Banker and recently used in the Top 1000 World Banks ranking confirms Beijing as the world’s largest financial centre by banking assets. It was worth $15,382bn at the end of 2015 compared with $14,664bn a year earlier, highlighting China’s growing financial muscle despite a slowing domestic economy. Beijing’s banking sector is the biggest also in terms of Tier 1 capital and pre-tax profits.
The capital towers over second placed Tokyo with $8398bn, as well as New York and London, which follow with $6325bn and $6008bn, respectively.
China’s other major financial hub, Shanghai, is in eighth place with $2193bn. In total, there are six Chinese centres in the top 50 table, representing 22% of all assets.
São Paulo, Brasilia and Caracas are the only centres from Latin America and the Caribbean that made the cut, in 28th, 31st and 34th places, respectively. It should be noted that while Brazil is clearly home to the biggest lenders in the region, the size of Venezuelan banks is harder to ascertain because of the country’s diverse official exchange rate system. In 32nd place, Moscow is the only central and eastern European hub in the list, while Riyadh is the highest scoring of the four Middle Eastern centres, in 38th position.
Western Europe is the region appearing most frequently in the top 50 ranking, with a total of 18 centres, while Asia-Pacific contributes 16 and North America eight. Only data for banks included in The Banker’s Top 1000 World Banks ranking was considered.
