There are no big surprises in the North American ranking, where Citigroup still leads its nearest domestic rival by a similar margin to that of last year. Then, it led JPMorgan by virtue of $74.4bn in Tier 1 capital to the latter’s $68.6bn; this year, it leads Bank of America Corp with $79.4bn against BofA’s $74bn.

The procession of major bank initial public offerings (IPOs) emerging from China are affecting the Top 25 Asia (excluding Japan) ranking. China Construction Bank (CCB), which raised $9.2bn in an IPO in Hong Kong last October, races to the top of the table with $35.6bn of Tier 1 capital, but its stay at the top may be short-lived.

Japan’s banks continue to make steady progress back to health, and many would argue that the big banks are already there. With an aggregate pre-tax profit of $51.3bn, the Japanese banking sector has surpassed last year’s $32.4bn, and left 2003’s pre-tax losses of $39.3bn a distant memory.

Russian banks continue to dominate our Top 25 Central and Eastern Europe listing, reflecting both the paucity of foreign-owned banks in Russia and the lack of locally owned banks in central Europe as a result of a large number of acquisitions by foreigners.

Susana Fernández Caro details how some banks have tapped into
the potential for making loans available exclusively through ATMs.

Saudi Arabia’s authorities have reacted to recent stock market falls by sacking their regulator and forging ahead with a new financial centre. Jon Marks explains.

Following the election of a Hamas government, the Palestine Authority has been isolated by the international financial community. Nick Kochan reports on the impact.

Egypt’s minister of finance Youssef Boutros-Ghali tells Nick Kochan that the economy is ripe for investment.

With reformers at the helm of a buoyant economy, Egypt is instilling confidence in rating agencies and markets with its new commercial spirit and changes in taxation, and banks are reaping the benefits. Nick Kochan reports from Sharm el Sheikh.

Portfolio investors are turning their attention to Africa, a sign that the continent’s economic prospects are improving. James Eedes reports.