The impact of the crisis on bank profits is a central feature of this year’s Top 1000 listing,with total profits of the listed banks plunging 85.3% from $780bn to $115bn and return on capital sinking from 20% in 2008’s ranking to a paltry 2.69%.
But as banks have written off losses, they have also recapitalised – often with government support – so that total Tier 1 capital has risen 9.7% to $4276bn. Assets have also grown by 6.8% to $96,395bn but at a much slower pace than previous years, with the doubling of the asset base between 2003 and 2008 now clearly visible as a key contributor to the crisis.
