Following successful IPOs by ICBC and Bank of China in 2006, the two banks return to the gold and silver positions in this year’s listing. Terry Baker-Self reports.

Is the private equity boom a result of the Asian savings glut? The Chinese current account surplus was $250bn in 2006 and is heading for $375bn this year. Foreign reserves hit $1200bn in the first three months of this year. This provides “a base level of liquidity being pumped out into the world”, says Charles Dumas, director of UK-based Lombard Street Research.

Japan’s distinctly tiered banking system could change dramatically if local government reform goes ahead, and regional banks are worried by the potential threat that a privatised postal savings bank could pose. Charles Smith reports.

A fast momentum of economic growth is providing the backdrop to new laws granting private property rights and an influx of real estate investment, as the country moves closer to liberalisation. Chris Webb reports.

The big Chinese banks have burst into the top echelons of global banking and look set to stay. This year’s Top 1000 shows there are now two banks, ICBC and Bank of China, in the Top 10 world banks in seventh and ninth place, with China Construction Bank close behind in 14th place.

The US and IMF’s targeting of China’s currency has as much to do with playing to the political gallery as it does with economics.

Japan’s banks may be out of hot water in terms of reducing non-performing loans (NPLs) as a percentage of their overall loan portfolios, but they continue to struggle to grow pre-tax profits and assets.

The latest Top 25 Asian listing emphasises the growing dominance of the big state-controlled Chinese banks. Following their recent record initial public offerings (IPOs), the big three state banks, led by ICBC with a Tier 1 capital of $59.2bn, and followed by Bank of China ($52.5bn) and last year’s leader, China Construction Bank ($42.3bn), have moved far away from their nearest Asian competitor, National Australia Bank with $17.5bn.

A 10-fold increase in bilateral trade means China is set to eclipse Europe and the US as the main foreign actor in Africa.

IIF suggests Asian growth has peaked while an EFMA report assesses the international domination of the CEE region.