Hong Kong (PRWEB) July 22, 2014
SNL Financial has released a ranking of the largest 50 Asia-Pacific banks by total assets. The data shows that China’s banks are increasing their dominance as 18 Chinese banks appear in the top 50, the most for a single country.
China is followed by Japan and South Korea with nine and seven entries, respectively. China boasts six of the 10 largest Asia-Pacific banks, with Japanese banks making up the rest of the group.
According to the report, Beijing-based Industrial & Commercial Bank of China Ltd. retained its crown as the largest bank in the region, with total assets of US$3.174 trillion, up from US$2.953 trillion at the end of March 2013. The company continues to expand globally; ICBC recently introduced credit and debit card services in New Zealand, received approval to open a branch in Kuwait and agreed to buy a 75.5% stake in Istanbul-based Tekstilbank AS. Further, ICBC, along with its Chinese megabank peers, has significantly boosted lending to Australian companies.
Tokyo-based Mitsubishi UFJ Financial Group Inc. lost the No. 2 spot to Beijing-based China Construction Bank Corp. after the value of the Japanese company's assets in U.S. dollar terms was eroded by a more than 8% deprecation in the Japanese yen in the 12 months through March 31. Mitsubishi UFJ had total assets of US$2.507 trillion, compared to China Construction Bank's US$2.596 trillion.
The other two members of China's so-called Big Four, Agricultural Bank of China Ltd. and Bank of China Ltd., both based in Beijing, held the fourth and fifth positions, respectively. The four Chinese banking giants are also among the 10 largest banks in the world, with ICBC taking the top spot on that ranking as well.
Seoul-based Woori Finance Holdings Co. Ltd. took the No. 28 spot, the highest among the seven South Korean banks in the top 50. The group is going through a privatization process as the South Korean government seeks to recoup public funds spent to bail out the company.
Australia, Taiwan and Singapore have five, four and three companies in the ranking, respectively. Two Hong Kong banks also made the list, along with one Indian bank and one Malaysian bank.
Among the top 50, Taipei-based Fubon Financial Holding Co. Ltd. posted the highest year-over-year loan growth rate at 25.66% in the 12 months through March 31, while in terms of deposits, Shenzhen, China-based Ping An Bank Co. Ltd. topped the list with a 29.89% increase.
Hongkong & Shanghai Banking Corp. Ltd., a Hong Kong-based unit of HSBC Holdings Plc, generated the best ROAA at 2.06%.
Methodology: This analysis is limited to SNL-covered top-tier banking institutions based in the Asia-Pacific region, and excludes central banks and development banks. All asset figures are current as of March 31, unless otherwise noted.
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