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ICBC Tops 1000 World Banks List for the Fifth Straight Year

The Banker, a UK-based magazine, announced its Top 1000 World Banks in 2017 on July 3, and ICBC, with tier 1 capital of USD 281.262 billion, dominates the ranking for the fifth year running.

Data released by The Banker show that 126 Chinese banks are shortlisted for the 2017 Top 1000 ranking, up by seven than last year. The banks listed in the Top 10 based on tier 1 capital include four Chinese banks, four US banks, a UK bank and a Japanese bank. Apart from ICBC on top, banks from the second place to the tenth place are: China Construction Bank, JPMorgan Chase, Bank of China, Bank of America, Agricultural Bank of China, Citigroup, Wells Fargo, HSBC, Mitsubishi UFJ.

A commercial bank’s tier 1 capital is a key indicator to comprehensively evaluate its capabilities in business development and risk tolerance, and is also an important guarantee of sustainable growth. The changes in The Banker’s ranking show that no Chinese-funded bank was listed in the top 10 world banks in 2004, and the Chinese bank entered the top 10 list for the first time in 2007, while currently four Chinese banks are listed in top 10 for tier 1 capital, which fully demonstrates increasing capital strength and rising growth momentum of Chinese banks.