The US has been at the heart of the financial crisis. Of total losses of $1040.7bn in the financial sector worldwide, the US accounts for more than half, at $582.6bn. Of the top 10 worst losses during the crisis, six of them are from the US. Between them, banks in the top 10 of the North American ranking have lost a staggering $473.66bn since the crisis began. In 2008, the 152 US banks present in the Top 1000 made a pre-tax loss $91,078m.
It may seem ironic, then, that the top three biggest banks in the world are from the US, and that the Top 25 banks in North America by Tier 1 capital remains remarkably stable. Four out of the five same banks as in 2008 continue to jockey for the top slot.
