China now runs 4 of the world’s 5 biggest banks

Stockswatch

China has become a banking powerhouse.

Four of the five largest banks in the world are Chinese, according to
SNL Financial’s latest global bank rankings. It’s a big change from the
past few years when only two Chinese banks made the top five.

Beijing-based Industrial & Commercial Bank of China holds the top spot
with assets valued at $3.5 trillion. That means the bank is worth more
than the entire value of the British economy. The only non-Chinese bank
remaining in the top five is HSBC, which is headquartered in London.
It fell several spots to position No. 4 this year.

The top U.S. bank is JPMorgan Chase (JPM), which ranks sixth with $2.6
trillion in assets. SNL notes that American banks calculate the value of
their assets a bit differently from international banks because of U.S.
regulations, so it’s likely that JPMorgan would rank higher in a true
apples to apples comparison.

China’s financial sector has been struggling in recent weeks after a major
meltdown in China’s stock market. On top of that, the Chinese economy is
slowing down this year. Even its large factory sector is shrinking.

But Chinese banks have still managed to grow, at least compared to their global
peers. Two banks that fell out of the top this year were France’s BNP Paribas
(BNPQF) and Japan’s Mitsubishi UFJ Financial Group (MBFJF). Both were hit by
weakening currency in their countries — the euro and the yen have fallen
substantially against the U.S. dollar in the past year. That makes their assets
less valuable in dollar terms.

Top 10 banks according to SNL Financial:
1. Industrial & Commercial Bank of China (China)
2. China Construction Bank (China)
3. Agricultural Bank of China (China)
4. HSBC (U.K.)
5. Bank of China (China)
6. JPMorgan Chase (U.S.)
7. BNP Paribas (France)
8. Mitsubishi UFJ Financial Group (Japan)
9. Bank of American (U.S.)
10. Barclays (U.K.)

10 comments

  1. hp says:

    Yangstein, Wangberg and Roth…

  2. […] China now runs 4 of the world’s 5 biggest banks […]

  3. James says:

    Guess who gave Mao Tse Tung money to start the Communist Revolution in China? Guess who supported the Communist Revolution in Russia? Guess who still pulls the strings? Guess who moved their major European holdings to Shanghai?

  4. […] China Now Runs 4 of the World’s 5 Biggest Banks […]

  5. guest says:

    In the video / Coast to Coast it is stated that Allah is the same God as Abraham………….WRONG!!!!!

    No, Allah and his followers claim that Allah has no son.

    You folks need to read the Quran. Islam is the kingdom of satan and calls for death, hate, destruction, chaos and oppression.

    God (the one true God) calls for life, love, creation, order and free will.

    WRONG WRONG WRONG – The Christian God and Islam’s God are two different entities and anyone saying different is either lying or deceived.

  6. guest says:

    Won’t post my comment. Coast to Coast, Noory, no sorry allah and God are not both one and the same. The Christian God is not allah.

  7. guest says:

    allah calls for hate, death, destruction, chaos and oppression.

    The God of Abraham calls for love, life, creation, order and free will.

    Read the Quran it is NOT Christian nor do muslims worship the Christian God who has a Son, Jesus Christ.

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