China has the world’s biggest banks, so it’s no surprise that it leads the emerging markets rankings. The rest of the BRICs are well represented, too.
China dominates our 2018 rankings of the Biggest Emerging Markets Banks with 22 banks, up from 21 last year, with the addition of Bank of Ningbo in the 47th spot. Moreover, Chinese banks occupy the top 13 places and 18 out of the top 25, with each of the top 13 banks also included in our World’s Biggest Bank rankings.
With a slowing Chinese economy, the People’s Bank of China has shifted to a more pro-growth policy. This is evident in the asset growth of the Chinese banks: The 22 banks represented experienced a 14% increase in assets during 2017, although half of this increase was due to currency fluctuations. The dominance of Chinese banks in our rankings is also reflected in their aggregate share of the 50 Emerging Markets banks; as the top 13 account for 70% of total assets, while overall the 22 Chinese banks account for 78% of total assets.
Many of the seven South Korean banks represented are close in size. The largest this year is Kookmin, slightly ahead of KEB Hana Bank. State Bank of India retains its 14th spot and is one of three Indian banks represented in addition to ICICI Bank at 42nd, and newcomer HDFC bank at 46th.
In Latin America, Brazil contributes six banks, with Itau Unibanco Holdings again the top Brazilian bank, while Venezuelan bank Banesco Banco Universal places 37th. The six Brazilian banks have fallen in our rankings, and Brazil is trying to recover from a recession in recent years as falling commodity prices severely damaged the economy. However, economic growth is limited, with an estimated GDP growth of only 1% in 2018.
The Gulf Cooperation Council countries place four banks among our rankings: Qatar National Bank, First Abu Dhabi Bank and Emirates NBD of the UAE, and The National Commercial Bank in Saudi Arabia. These banks are also operating in countries experiencing slow economic growth, but hope to benefit from large economic development plans including UAE Expo 2020, World Cup Qatar 2022 and the Saudi National Transformation Program.
Turkey’s T.C. Ziraat Bankasi made the cut this year and is one of three new entrants. The threshold for inclusion in the rankings increased to $118 billion, up from $107 billion last year.
|
WORLD’S BIGGEST EMERGING MARKETS BANKS 2018 —Global Top 50 |
|---|
|
Rank |
Company Name |
Country |
Assets ($ Mil.) |
Statement Date |
||||
|
1 |
Industrial and Commercial Bank of China |
China |
4,006,242 |
31-Dec-2017 |
||||
|
2 |
China Construction Bank |
China |
3,397,688 |
31-Dec-2017 |
||||
|
3 |
Agricultural Bank of China |
China |
3,233,212 |
31-Dec-2017 |
||||
|
4 |
Bank of China |
China |
2,989,653 |
31-Dec-2017 |
||||
|
5 |
China Development Bank |
China |
2,450,812 |
31-Dec-2017 |
||||
|
6 |
Bank of Communications |
China |
1,388,024 |
31-Dec-2017 |
||||
|
7 |
Industrial Bank |
China |
985,488 |
31-Dec-2017 |
||||
|
8 |
China Merchants Bank |
China |
967,141 |
31-Dec-2017 |
||||
|
9 |
Shanghai Pudong Development Bank |
China |
942,509 |
31-Dec-2017 |
||||
|
10 |
China Minsheng Banking Corp. |
China |
906,396 |
31-Dec-2017 |
||||
|
11 |
China CITIC Bank |
China |
871,935 |
31-Dec-2017 |
||||
|
12 |
Agricultural Development Bank of China |
China |
808,118 |
31-Dec-2016 |
||||
|
13 |
China Everbright Bank |
Chin |
627,840 |
31-Dec-2017 |
||||
|
14 |
State Bank of India |
India |
555,998 |
31-Mar-2018 |
||||
|
15 |
Ping An Bank |
China |
498,875 |
31-Dec-2017 |
||||
|
16 |
The Export-Import Bank of China |
China |
479,776 |
31-Dec-2016 |
||||
|
17 |
Sberbank of Russia |
Russia |
470,696 |
31-Dec-2017 |
||||
|
18 |
Itau Unibanco Holding |
Brazil |
454,588 |
31-Dec-2017 |
||||
|
19 |
Banco do Brasil |
Brazil |
413,981 |
31-Dec-2017 |
||||
|
20 |
Hua Xia Bank |
China |
385,301 |
31-Dec-2017 |
||||
|
21 |
Caixa Economica Federal |
Brazil |
381,196 |
31-Dec-2017 |
||||
|
22 |
Banco Bradesco |
Brazil |
366,231 |
31-Dec-2017 |
||||
|
23 |
Bank of Beijing |
China |
357,793 |
31-Dec-2017 |
||||
|
24 |
China Guangfa Bank |
China |
318,342 |
31-Dec-2017 |
||||
|
25 |
Kookmin Bank |
South Korea |
307,790 |
31-Dec-2017 |
||||
|
26 |
Shinhan Bank |
South Korea |
302,700 |
31-Dec-2017 |
||||
|
27 |
KEB Hana Bank |
South Korea |
299,509 |
31-Dec-2017 |
||||
|
28 |
Woori Bank |
South Korea |
295,217 |
31-Dec-2017 |
||||
|
29 |
BNDES |
Brazil |
262,269 |
31-Dec-2017 |
||||
|
30 |
Industrial Bank of Korea |
South Korea |
255,805 |
31-Dec-2017 |
||||
|
31 |
Bank of Shanghi |
China |
252,440 |
30-Jun-2017 |
||||
|
32 |
NongHyup Bank |
South Korea |
249,518 |
31-Dec-2017 |
||||
|
33 |
Korea Development Bank |
South Korea |
246,231 |
31-Dec-2017 |
||||
|
34 |
China Zheshang Bank |
China |
235,988 |
31-Dec-2017 |
||||
|
35 |
VTB Bank |
Russia |
225,958 |
31-Dec-2017 |
||||
|
36 |
Qatar National Bank |
Qatar |
222,824 |
31-Dec-2017 |
||||
|
37 |
Banesco Banco Universal |
Venezuela |
215,543 |
31-Dec-2016 |
||||
|
38 |
Banco Stantander (Brasil) |
Brazil |
206,123 |
31-Dec-2017 |
||||
|
39 |
Maybank |
Malaysia |
118,405 |
31-Dec-2017 |
||||
|
40 |
First Abu Dhabi Bank |
UAE |
182,156 |
31-Dec-2017 |
||||
|
41 |
CTBC Financial Holding |
Taiwan |
178,931 |
31-Dec-2017 |
||||
|
42 |
ICICI Bank |
India |
172,849 |
31-Mar-2018 |
||||
|
43 |
Bank of Nanjing |
China |
167,099 |
30-Jun-2017 |
||||
|
44 |
Bank of Taiwan |
Taiwan |
165,621 |
31-Dec-2017 |
||||
|
45 |
Standard Bank Group |
South Africa |
164,404 |
31-Dec-2017 |
||||
|
46 |
HDFC Bank |
India |
163,448 |
31-Mar-2018 |
||||
|
47 |
Bank of Ningbo |
China |
158,483 |
31-Dec-2017 |
||||
|
48 |
Emirates NBD |
UAE |
128,080 |
31-Dec-2017 |
||||
|
49 |
T.C. Ziraat Bankasi |
Turkey |
121,030 |
31-Dec-2017 |
||||
|
50 |
The National Commercial Bank |
Saudi Arabia |
118,346 |
31-Dec-2017 |
||||
|
Asset figures from Fitch, Moody’s, and company reports. Ratings valid as of Aug. 17, 2018. |
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