ANNUAL REPORT: BIG IS BETTER
Global Finance presents its annual listing of the biggest Banks in the Emerging Markets.
Ten of the biggest 11 emerging markets banks as ranked by asset size are Chinese, and a total of 19 Chinese banks claim a place in our ranking of the biggest 50 emerging markets banks worldwide. These 19 banks show assets of $15.7 billion, accounting for roughly 70% of the combined assets of the biggest 50 emerging markets banks.
The largest 50 emerging markets banks showed combined assets of approximately $22.3 billion. Only Banco do Brasil, the 7th-biggest emerging markets bank, is able to challenge the dominance of Chinese banks when ranked by size. Brazil contributes five other banks to the biggest 50, accounting for 11% of combined total assets. Korea contributes eight banks to the biggest 50, but they are smaller—the eight account for only 7% of the combined assets of the top 50. Russia contributes four banks and 4% of the total assets.
Twelve countries contribute to the listing of the largest 50 banks in emerging markets, in contrast to only 10 that contribute to the list of safest banks. India, Malaysia, Mexico and Turkey contribute seven banks between them to the rankings of biggest banks, although their banks fall far short of qualifying for inclusion in the rankings of global safest banks.
| Rank | Bank Name | Country | Total Assets ($mn) |
| 1 | Industrial and Commercial Bank of China | China | 2,789,090 |
| 2 | China Construction Bank | China | 2,221,582 |
| 3 | Agricultural Bank of China | China | 2,105,758 |
| 4 | Bank of China | China | 2,016,129 |
| 5 | China Development Bank | China | 1,195,563 |
| 6 | Bank of Communications | China | 838,430 |
| 7 | Banco do Brasil | Brazil | 563,163 |
| 8 | China Merchants Bank | China | 541,883 |
| 9 | Industrial Bank | China | 516,882 |
| 10 | China MinSheng Bank | China | 510,686 |
| 11 | Shanghai Pudong Development Bank | China | 500,145 |
| 12 | Sberbank | Russia | 497,067 |
| 13 | Itaú Unibanco | Brazil | 496,561 |
| 14 | China Citic Bank | China | 470,610 |
| 15 | Banco Bradesco | Brazil | 430,316 |
| 16 | Agricultural Development Bank of China | China | 364,584 |
| 17 | China Everbright Bank | China | 362,392 |
| 18 | State Bank of India | India | 357,720 |
| 19 | BNDES | Brazil | 350,230 |
| 20 | Caixa | Brazil | *343,294 |
| 21 | Ping An Bank | China | 255,428 |
| 22 | Export-Import Bank of China | China | 247,859 |
| 23 | VTB Bank | Russia | 244,155 |
| 24 | KB Kookmin Bank | South Korea | 240,737 |
| 25 | Hua Xia Bank | China | 236,726 |
| 26 | Woori Bank | South Korea | 230,930 |
| 27 | Banco Santander Brasil | Brazil | 219,770 |
| 28 | Shinhan Bank | South Korea | 218,652 |
| 29 | China Guangfa Bank | China | 185,728 |
| 30 | Industrial Bank of Korea | South Korea | 184,693 |
| 31 | NongHyup Bank | South Korea | 182,065 |
| 32 | Bank of Beijing | China | 178,067 |
| 33 | Hana Bank | South Korea | **161,109 |
| 34 | Maybank | Malaysia | **159,034 |
| 35 | Korea Development Bank | South Korea | 154,600 |
| 36 | Bank of Taiwan | Taiwan | *139,628 |
| 37 | Bank of Shanghai | China | **129,336 |
| 38 | Standard Bank of South Africa | South Africa | 115,161 |
| 39 | Türkiye Bankas | Turkey | 112,843 |
| 40 | Garanti Bank | Turkey | 100,892 |
| 41 | Qatar National Bank | Qatar | 100,784 |
| 42 | Taiwan Cooperative Bank | Taiwan | 98,463 |
| 43 | Korea Exchange Bank | South Korea | 97,137 |
| 44 | BBVA Bancomer | Mexico | 97,132 |
| 45 | Vnesheconombank | Russia | 96,108 |
| 46 | Taishin Financial Holding | Taiwan | 93,820 |
| 47 | ICICI Bank | India | 92,589 |
| 48 | National Commercial Bank | Saudi Arabia | 92,085 |
| 49 | Gazprombank | Russia | 92,085 |
| 50 | Akbank | Turkey | 91,744 |
Source for reporting assets: Fitch Solutions, except *Moody’s Investors Service, **Bank’s annual report
