State Bank of India moves up the regional ranking

In Asia-Pacific (excluding China and Japan), Australia’s Commonwealth Bank has held firm at the top, but State Bank of India is closing the gap. Kimberley Long reports.

by Kimberley Long

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Commonwealth Bank of Australia has remained at the top of the Asia-Pacific (excluding China and Japan) ranking for the sixth year running, despite reporting a 12.53% decrease in Tier 1 capital in 2022 and falling four places in the main Top 1000 World Banks 2023 ranking, to 45th.

While Australia’s banks still make a strong showing, State Bank of India (SBI) has disrupted their hold on the top four places in the regional table by moving up three spots to take second place. In the main Top 1000 ranking, SBI has climbed seven places to 51st thanks to a 9.45% increase in Tier 1. The bank leapfrogged Westpac and ANZ, which reported declines in Tier 1 capital of 9.77% and 3.54%, respectively.

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Kimberley Long

Kimberley Long is the Asia editor at The Banker. She joined from Euromoney, where she spent four years as transaction services editor. She has a BA in English Language and Literature from the University of Liverpool, and an MA in Print Journalism from the University of Sheffield. Between degrees she spent a year teaching English in Japan as part of the JET Programme.

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