Chinese banks continued to dominate the Asia-Pacific banking scene accounting for six out of the top ten slots by assets in 2021, according to S&P Global Market Intelligence. India's ICICI Bank has entered the top 50 list for the first time to join State Bank of India (SBI) and HDFC Bank with $226 billion in assets.
SBI, India’s largest bank by assets, jumped two spots to be ranked 22 nd in the list with $695 billion in assets. HDFC Bank, the country’s private sector bank also improved its position to 44 th from 46 th last year. ICICI just about made it to the list at number 50 with $226 billion in assets.
However, Chinese banks remain dominant in the region with 22 mainland Chinese banks featured in the list of 50. Together these lenders hold assets of $34.52 trillion at end-2021, up more than 10% from a year ago. Industrial & Commercial Bank of China Ltd., China Construction Bank Corp., Agricultural Bank of China Ltd. and Bank of China Ltd. kept their positions as the region's largest banks, with their total assets growing 10.16% year over year to $19.081 trillion in 2021, S&P Market Intelligence data shows.
“China Guangfa Bank Co. Ltd. saw the biggest jump in ranking, climbing to No. 31 from No. 35 in the previous ranking, after its total assets swelled more than 30% year over year to $493.36 billion as of June 30, 2021. On the other hand, Japan's Fukuoka Financial Group Inc. slipped to No. 48 from No. 43. Malaysia's Malayan Banking Bhd. and Japan's Mebuki Financial Group Inc. dropped off the list,” S&P Market Intelligence, an arm of the global rating agency Standard & Poors said.
Eight Japanese banks, with combined assets of $11.706 trillion, made it to the list, compared with nine lenders with combined assets of $12.748 trillion in the previous-year. Mitsubishi UFJ Financial Group Inc. retained its fifth position on the list, just behind the four Chinese heavyweights, with $3.177 trillion in assets. Mizuho Financial Group Inc dropped one place to number 9.
Six lenders from South Korea made the list while there were four lenders from Australia led by Commonwealth Bank of Australia along with investment bank Macquarie Group which was a new entrant in the list along with ICICI in 2021.
SBI, India’s largest bank by assets, jumped two spots to be ranked 22 nd in the list with $695 billion in assets. HDFC Bank, the country’s private sector bank also improved its position to 44 th from 46 th last year. ICICI just about made it to the list at number 50 with $226 billion in assets.
However, Chinese banks remain dominant in the region with 22 mainland Chinese banks featured in the list of 50. Together these lenders hold assets of $34.52 trillion at end-2021, up more than 10% from a year ago. Industrial & Commercial Bank of China Ltd., China Construction Bank Corp., Agricultural Bank of China Ltd. and Bank of China Ltd. kept their positions as the region's largest banks, with their total assets growing 10.16% year over year to $19.081 trillion in 2021, S&P Market Intelligence data shows.
“China Guangfa Bank Co. Ltd. saw the biggest jump in ranking, climbing to No. 31 from No. 35 in the previous ranking, after its total assets swelled more than 30% year over year to $493.36 billion as of June 30, 2021. On the other hand, Japan's Fukuoka Financial Group Inc. slipped to No. 48 from No. 43. Malaysia's Malayan Banking Bhd. and Japan's Mebuki Financial Group Inc. dropped off the list,” S&P Market Intelligence, an arm of the global rating agency Standard & Poors said.
Eight Japanese banks, with combined assets of $11.706 trillion, made it to the list, compared with nine lenders with combined assets of $12.748 trillion in the previous-year. Mitsubishi UFJ Financial Group Inc. retained its fifth position on the list, just behind the four Chinese heavyweights, with $3.177 trillion in assets. Mizuho Financial Group Inc dropped one place to number 9.
Six lenders from South Korea made the list while there were four lenders from Australia led by Commonwealth Bank of Australia along with investment bank Macquarie Group which was a new entrant in the list along with ICICI in 2021.
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