China’s banks have continued their advance up the global rankings in 2012 and have had their best year to date. The country's highest ranked bank, Industrial Commercial Bank of China (ICBC), has had a particularly good year, making it into the global top three banks by knocking HSBC from third to fourth place. ICBC has been climbing steadily up the global rankings in the past few years, ranking seventh in 2010 and sixth in 2011. While in previous years ICBC was significant for breaking into the global top 10, it is now firmly cemented among the world's top banking names.
Elsewhere in the top 10 global rankings, China Construction Bank edged its way up the table going from 2011’s eighth place to sixth this year. Bank of China stayed in ninth place, while Agricultural Bank of China moved into 10th place from last year's 14th.