In what seems to have become a traditional dance, the top three banks in North America have switched places once again. Citigroup has, this year, reclaimed its crown, just pipping JPMorgan Chase to the top slot and pushing Bank of America (BAC), last year’s occupant of pole position, into third place.

Asia is riding high as the world’s saviour, ­taking up the slack from an ever-weakening US economy. Its main vulnerability is its dependence on increasingly expensive oil to continue ­developing, and the inflationary pressures affecting the price of food.

Japan managed only to raise its head from its endless slump, before falling back into the same pattern.

The top order of banks in the central and eastern Europe (CEE) region changed little in 2007, but the striking story is the strength of the largest Russian banks.

Mergers and acquisitions (M&A) are responsible for remodelling the Top 25 western European banks in this year’s listings. As ABN AMRO is consolidated onto the balance sheets of its three purchasers, it disappears from our rankings, while RBS, Santander and Fortis all move up the table.

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Banks may be suffering as the credit crunch bites, but the past year shows the industry has the resilience to stop a setback turning into a disaster. By Stephen Timewell. Research by Terry Baker-Self, Valentina Lorenzon & Beata Ghavimi.

A successful brand will deliver a better customer experience, higher revenues and more profits. The Banker’s Top 500 Financial Brands listing puts a financial value on the leading brands and ranks them accordingly. Report by Michael Imeson.

Banks’ overall downturn in performance, despite Japan’s economic growth, signals a rough road ahead.

In this vibrant young industry, many new players are emerging. The combination of huge liquidity in the Gulf region from oil prices in excess of $80 a barrel and the attraction of new opportunities through Islamic finance has led to a large expansion of Islamic institutions both in the Gulf and elsewhere.

The Top 25 country ranking of the Top 500 Islamic institutions clearly demonstrates that Iran, Saudi Arabia and Malaysia are by far the three largest countries providing Islamic finance, with Iran’s total amounting to $154.6bn of sharia-compliant assets (SCAs) accounting for 30.9% of the global aggregate total of $500.5bn.