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China's Big Four Banks Maintain Top Four Spots in World Bank 1000

Jul. 10, 2024  02:32

AsianFin--China's banking sector continues to dominate the 2024 "Banker" World Bank 1000 ranking, maintaining its leadership position.

Calculated by tier-one capital, Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Agricultural Bank of China (ABC), and Bank of China (BOC) remain the world's top four banks this year.

Additionally, two other Chinese banks, Bank of Communications (BoCom) and China Merchants Bank (CMB), rank ninth and tenth, respectively. ICBC's tier-one capital currently stands at $524 billion USD, nearly double that of JPMorgan Chase, the highest-ranked non-Chinese bank.

China Merchants Bank saw a 12.58% increase in tier-one capital, surpassing HSBC Holdings, the only European bank in last year's top ten rankings. Currently, the top 10 rankings are exclusively held by banks from China and the United States. However, in terms of asset size, HSBC remains the world's seventh-largest bank.

Two European banks, BNP Paribas and Crédit Agricole from France, also rank in the top ten based on asset size.

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