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Chinese Banks Moved up in Asian Top 500
In the ranking of Asian top 500 banks in terms of asset value as of end of March this year, most of the mainland banks have been moved up in the ranking. Hong Kong and Shanghai Banking Corporation in the HKSAR was moved up from No. 15 to No. 14 with an asset value of US$210 billion. Assets of Hong Kong banks increase compared to last year, and yet with smaller increase rate than other banks in Asia.
Five mainland banks have been ranked within the top 30, they are the top 7th Industrial and Commercial Bank of China (ICBC) with asset value of US$427.5 billion , top 9th Bank of China with US$350.7 billion, top 12th China Construction Bank with US$265.8 billion, top 13th China Agricultural Bank from the original 14th with US$244.3 billion, and top 30th Bank of Communications from the original 35th with asset value of US$65 billion. All of the top ten are Japanese banks except Bank of China.
Twenty-six banks have been included in the ranking with total assets reaching US$398 billion, accounting for 3.29% of that of the top 500. Total profit is yet US$4.6 billion which accounts for 23.58%. Hong Kong banks have high profitability while many Japanese banks are loss-making generally though it has high assets. (Panoroma)
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