Chinese Banks Dominate Asia-Pacific Banking Scene

Strategic Insights -

Chinese banks continue to hold a significant position in the Asia-Pacific banking landscape, accounting for six of the top 10 slots by assets in 2021, according to S&P Global Market Intelligence. Indian banks, however, have started to make notable inroads, with ICICI Bank entering the top 50 list for the first time, joining the State Bank of India (SBI) and HDFC Bank with $226 billion in assets.

Key Takeaways:

  • Chinese banks hold the top six spots in the Asia-Pacific banking scene, with Industrial & Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd, and Bank of China Ltd maintaining their positions as the region's largest banks.
  • ICICI Bank, India's second-largest lender, entered the top 50 list for the first time, with $226 billion in assets, joining SBI and HDFC Bank.
  • SBI, India's largest bank by assets, jumped two spots to be ranked 22nd on the list with $695 billion in assets.
  • HDFC Bank, the country's largest private sector bank, improved its position to 44th from 46th last year.
  • China Guangfa Bank Co Ltd saw the biggest jump in ranking, climbing to No 31 from No 35, with a 30% increase in total assets to $493.36 billion.
  • Eight Japanese banks, with combined assets of $11.706 trillion, made it to the list, compared with nine lenders with combined assets of $12.748 trillion in the previous year.
  • Investment bank Macquarie Group and Commonwealth Bank of Australia were new entrants in the list, along with ICICI Bank, in 2021.
  • Total assets of Chinese banks grew 10.16% year-on-year to $19.081 trillion in 2021, accounting for 88.3% of the region's total banking assets.

Statistics:

  • Assets of Chinese banks: $19.081 trillion (up 10.16% year-on-year)
  • Assets of SBI: $695 billion (ranked 22nd)
  • Assets of ICICI Bank: $226 billion (ranked 50th)
  • Assets of HDFC Bank: $226 billion (ranked 44th)
  • Total assets of Japanese banks: $11.706 trillion
  • Total assets of South Korean lenders: $2.255 trillion

Sources:

  • S&P Global Market Intelligence
  • Standard & Poor's
  • [1] S&P Global Market Intelligence. (2021). Asia-Pacific Banking Study.
  • [2] S&P Global Market Intelligence. (2021). Bank Rankings by Assets.
  • [3] S&P Global Market Intelligence. (2021). Asia-Pacific Banking Landscape.