The four main state-owned Chinese banks have consolidated this year the leadership in the list of the biggest banks in the world, revealed this Monday the magazine The Banker, in anticipation of the list containing the 1000 biggest banks in the world, to be published in its July issue. The criteria used for the ranking is own capital (tier one capital).
The Industrial and Commercial Bank of China (ICBC), Chinese Construction Bank, Bank of China and the Agricultural Bank of China dominated the first four positions in the list of 1000 biggest banks respectively, published annually by the magazine The Banker, founded in 1928.
This year, the Bank of China moved up from the fourth position to the third, surpassing the American J.P. Morgan, with the Agricultural Bank of China climbing up from the sixth position to occupy the fourth.
The other six banks in the top 10 list, by decreasing order, are J.P. Morgan (USA), Bank of America (USA), Wells Fargo (USA), Citigroup (USA), Mitsubishi (Japan) and HSBC (United Kingdom). No bank from the eurozone is in the first ten positions.