Europe’s banks survived the pandemic, even extending support for their respective economies. But there is still scope for improved profitability and consolidation in future.

Saudi Investment Bank showed the country’s larger lenders the way on asset quality and return on risk, to take the laurels for best performance. 

Investec topped the South Africa performance rankings and climbed up 63 places in the overall Top 1000 ranking. Its ‘Big Four’ peers fared less well.

Nigeria’s banks have had a tough year, as the economy hit a two-decade low. 

Indonesia’s biggest banks have slipped down the Top 1000 ranking, though some have grown their Tier 1 capital. 

Japan’s banks held on in a volatile environment but saw little capital growth. 

South Korea’s banks have had a good year for Tier 1 capital growth, which has helped several move up the Top 1000 ranking.

The conversion from a mutual to a publicly traded holding company helped Eastern Bank boost its financial strength during an uncertain environment for the banking industry.

China fields the largest number of new entrants in 2021, led by Mengshang Bank, but low M&A activity means far fewer banks have joined the ranking overall. 

China’s biggest banks dominate the global rankings once more, with strong increases in their Tier 1 capital.