Jul 03, 2018 (China Knowledge) - The Banker, an international financial affairs publication owned by The Financial Times, released the list of 1,000 major banks in the world in 2018. For the first time, China's four major banks are ranked among the top four of the top 1,000 banks.
According to the ranking order, the top four are; Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Bank of China (BoC), and Agricultural Bank of China (ABC).
Compared with 2017, the list of the top ten banks remained unchanged, mainly in China (4), the United States (4), the United Kingdom (1) and Japan (1).
It can also be seen from the list that the global banking industry has seen double-digit revenue and capital growth for the first time in seven years. In terms of the world's top 1,000 banks, the total pre-tax profit in 2017 reached USD 1.1 trillion, an increase of 15.57% year-on-year.
At the same time, the total capital of the world's top 1,000 banks rose 11.67% from a year earlier to USD 8.2 trillion in 2017. Except for Latin America and the Caribbean, the growth rate of Tier 1 capital in all regions of the world exceeded double digits. The profit growth rate and the growth rate of Tier 1 capital exceeded the double digits for the first time since 2010, indicating that the global banking industry is recovering strongly.
In terms of bank employment, there is a polarization. Some small and medium-sized banks are increasing their number of employees to rapidly expand their scale, while many large banks are reducing the number of employees as they streamline their operations in order to realize sustainable development.
The difference between China's large banks and small and medium-sized banks is even more pronounced. China Construction Bank reduced its 10,000 employees in 2017, while Hua Xia Bank, Industrial Bank and Shanghai Pudong Development Bank are ranked among the top 10 banks with the largest number of new employees in the world.
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