China’s ICBC has headed The Banker magazine's list of the top 1,000 banks for the first time. Thus, it was recognized as the most reliable credit institution with the world’s largest tier one capital of over $160 billion.
ICBC knocked Bank of America from the leading position. The U.S. JPMorgan remained among the top three as well.
Hence, the world’s top ten banks include four Chinese representatives and four U.S. banks, one Japanese credit institution and one from UK. Spain’s banks show the worst performance in the world, experiencing a severe financial crisis. Last year total net loss of Spanish credit institutions amounted to $73 billion, or 5% of GDP.
The banks’ earnings around the world returned to the pre-crisis level. At the same time, the return per unit of capital decreased; the banks were forced to hold twice as much capital having net revenues equal to the level of 2007.
Meanwhile, Russia’s banks are quite far away from the top in terms of tier one capital. So, Sberbank is ranked 34th, VTB – 70th, and Gazprombank comes 125th. At the same time, The Banker said that Russian credit institutions are the leaders in Central and Eastern Europe by the rate of growth and operating results.
The region’s ten largest credit organizations are comprised of six Russian banks; the rest represent Poland, Hungary, Ukraine, and Kazakhstan. As for the top four positions, they are taken by the Russian banks. In terms of capital gains, four banks of Russia (Russian Standard, Sberbank, RosEvroBank and Alfa-Bank) are among the top five.
