Even after a tumultuous year for the global economy, China has sealed its position as the dominant force in the world banking industry by retaining the top four places in the overall Top 1000 World Banks ranking 2021.
The Chinese banks have been buoyed by the country’s bounce back from the pandemic, which saw gross domestic product reach $14.7tn during 2020, the review period for the ranking. With regulators set to impose stricter capital requirements on the systemically important banks, it is possible the capital levels will continue to rise.
