Like the rest of the world, China’s banks have been through an unprecedented year. However, unlike many other countries, China has emerged from the Covid-19 pandemic with growth in gross domestic product (GDP), and its banks continuing to increase their Tier 1 capital.
In The Banker’s Top 1000 World Banks ranking 2021, Chinese banks retain their top four places once more, with double-digit growth in Tier 1 capital. Indeed, the combined totals of Industrial and Commercial Bank of China (ICBC), China Construction Bank, Agricultural Bank of China and Bank of China are almost double the amount of the Tier 1 capital held by the four US banks that also make it into the top 10.
