CHINA’S BIG FOOTPRINT
By Andrew Cunningham
Global Finance presents its annual listing of the biggest banks in the emerging markets.
When it comes to asset size, the dominance of Chinese banks in emerging markets is hard to overstate. The six biggest emerging markets banks are Chinese. A further seven qualify for inclusion in the biggest 50. The assets of the biggest Chinese bank, Industrial and Commercial Bank of China, exceed the combined assets of the five biggest Brazilian banks ($1.8 trillion) and the eight biggest South Korean banks ($1.3 trillion).
Global Finance ’s listing of the biggest 50 emerging markets banks is based on the latest year-end data supplied by Fitch Solutions and Moody’s Investors Service. The combined assets of the biggest 50 totaled $15.6 trillion.
The list also shows that the biggest banks aren’t always the safest ones. Turkey boasts four banks in the top 50, but none scored highly enough for inclusion in the safest list. The same applies to Russia, which has two in the biggest 50 list.