Source: Jixia Tanjin
On July 10, United Kingdom's Banker magazine officially released the 2024 World Bank 1000 list. Chinese banks occupy 10 of the top 20 lists, the same figure as last year.
Among them, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China ranked among the top four global banking industries this year, and ICBC topped the list for a record-breaking 12 consecutive years.
In this list, Tier 1 capital is an important indicator to measure the capital adequacy of banks, reflecting the bank's ability to resist risks and profit growth.
According to United Kingdom's Banker, ICBC's Tier 1 capital currently stands at $524 billion, topping the list and nearly double that of JPMorgan Chase ($277.3 billion), the highest-ranked (fifth) bank outside China.
In addition, China Construction Bank, Agricultural Bank of China, and Bank of China followed closely behind, ranking second and fourth, respectively. In addition, the 5th to 8th places are all United States banks, namely JPMorgan Chase, Bank of United States, Citibank, and Wells Fargo. Bank of Communications ranked 9th, and China Merchants Bank replaced HSBC Holdings in 10th place.
In addition, in the top 20 list, there is also the Postal Savings Bank in 12th place; Industrial Bank ranked 16th; China CITIC Bank ranked 18th; Shanghai Pudong Development Bank ranked 19th.
In terms of local banks, Bank of Beijing, Bank of Jiangsu, Bank of Shanghai, Bank of Ningbo and Bank of Nanjing entered the top 100, and except for Bank of Nanjing, the remaining four have improved their rankings in 2023.
In addition, Huishang Bank, ranked 112th, has improved 11 places from last year, and is expected to hit the top 100 next year.
Among the top 100, there is no rural commercial bank.
The highest-ranked rural commercial bank is Chongqing Rural Commercial Bank, followed by Shanghai Rural Commercial Bank with 119 and 128 respectively.
The development speed and quality of domestic urban commercial banks are significantly better than those of rural commercial banks. In 2018, three city commercial banks entered the top 100 on the list, namely Bank of Beijing (63rd), Bank of Shanghai (76th) and Bank of Jiangsu (91st). After that, Bank of Ningbo and Bank of Nanjing entered the top 100 one after another.
In 2022, Bank of Ningbo entered the ranks of the "Top 100 Global Banks" for the first time, ranking 87th. In 2023, the ranking will continue to improve, ranking 82nd; In the 2024 list, Bank of Ningbo ranked 80th with a Tier 1 capital of US$27.934 billion, up two places from 2023.
The ranking among the world's top 100 banks has been steadily rising, which shows that Bank of Ningbo's comprehensive strength and core competitiveness continue to increase.
More than half of the top 10 rural commercial banks in China have slipped in the rankings, which also reflects the urgency of the reform of provincial associations from a certain level.