MILAN, Jul 25 (Class Editori) – Chinese banks are topping the world charts in terms of total assets. According to Mediobanca’s ranking, all top 3 positions went to Chinese institutes, with the Industrial and Commercial Bank of China – boasting 3,517 billion in assets – coming in first. Following suit, the Agricultural Bank of China (2,871 billion) and the China Construction Bank (2,856 billion), exchanging positions compared to last year. The first non-Chinese institute is JP Morgan Chase, placing fourth. Finally, coming in fifth is the Bank of China, with 2,701 billion.
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Last March, Peng Chun joined the China Investment Corportation (CIC) – the second sovereign fund in the world, with 941 billion – leaving his position of Chairmain of the Bank of Communication to Chongqing deputy mayor Liu Guiping, and virtually kick-starting the handover process interesting Chinese banking's most important positions since. The last transfer of power happened in July, when Liu Liange was promoted Bank of China's top position, replacing Chen Siqing – who joined the management of the ICBC, taking over the role of Yi Huiman, now head of the China Securities Regulatory Commission, in charge of regulating the stock exchange and the markets.
Back to Mediobanca's chart, Japanese Mitsubishi (2,472 billion) conquered the sixth position, while seventh is the US BoFa (2,305 billion). French BNP Paribas (2,276 billion), the first EU bank couldn’t climb higher than eighth. Finally, the last two spots went to HSBC (2,275 billion) and Citigroup (1,980 billion).
As noted by Mediobanca, the economic data from the 2008-2017 period highlights how interest margins have exercised an important effect over total revenues, with a 78 term average. Chinese banks' productivity, measured against employee revenues, showcased strong growing trends as well, up 93.7% in ten years and achieving 202 thousand euros in 2017 – on par with EU averages, even if still less than US ones by one third.
As for the financial position, the main assets are receivable to customers – 52.1% of the total in 2017, up against the 50.2% of 2016, and recording a 10.1% increase in absolute terms. The analysis also highlights a good level of capitalization for most Chinese banks, in particular since their net capital, in aggregate terms, went from 5.8% of 2008 up to 7.6% of 2017, achieving higher results than EU and Japanese banks (6.2% and 5.4% respectively), and lagging behind the US only (11.1%).
(Source:Class Editori)
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