"The rise of China and decline of the eurozone are two themes that continue to dominate the top end of the Top 1000. But some equally significant changes are taking place further down the rankings. The tectonic plates of global banking have been shifting noticeably ever since the financial crisis began in 2008, but The Banker’s Top 1000 World Banks ranking this year shows the change in its starkest form. For the first time ever, a Chinese bank, ICBC, sits atop the rankings... Beyond that, what little movement there is among the top 25 banks is almost entirely associated with China’s growth. China Construction Bank moves up one place to fifth, while Bank of Communications becomes the fifth Chinese bank to enter the top 25, driving out Dutch ING Bank... With the exception of Tompkins Financial Corporation in the US, the banks that entered the Top 1000 thanks to organic growth are exclusively from emerging markets, especially Latin America and south-east Asia. The largest is Banco GNB Sudameris in Colombia, which purchased a number of HSBC’s operations in Latin America and enters the ranking at 888."
Posted on: Fri, 19 Jul 2013 04:09:27 +0000
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