China now runs 4 of the world's 5 biggest banks

[CCP]

China now runs 4 of the world's 5 biggest banks - Aug. 4, 2015

China has become a banking powerhouse.
Four of the five largest banks in the world are Chinese, according to SNL Financial's latest global bank rankings. It's a big change from the past few years when only two Chinese banks made the top five.
Beijing-based Industrial & Commercial Bank of China holds the top spot with assets valued at $3.5 trillion. That means the bank is worth more than the entire value of the British economy.

The only non-Chinese bank remaining in the top five is HSBC, which is headquartered in London. It fell several spots to position No. 4 this year.

The top U.S. bank is JPMorgan Chase (JPM), which ranks sixth with $2.6 trillion in assets. SNL notes that American banks calculate the value of their assets a bit differently from international banks because of U.S. regulations, so it's likely that JPMorgan would rank higher in a true apples to apples comparison.

Related: The world's largest economies

China's financial sector has been struggling in recent weeks after a major meltdown in China's stock market. On top of that, the Chinese economy is slowing down this year. Even its large factory sector is shrinking.

But Chinese banks have still managed to grow, at least compared to their global peers.

Two banks that fell out of the top this year were France's BNP Paribas (BNPQF) and Japan'sMitsubishi UFJ Financial Group (MBFJF). Both were hit by weakening currency in their countries -- the euro and the yen have fallen substantially against the U.S. dollar in the past year. That makes their assets less valuable in dollar terms.

Top 10 banks according to SNL Financial:

1. Industrial & Commercial Bank of China (China)
2. China Construction Bank (China)
3. Agricultural Bank of China (China)
4. HSBC (U.K.)
5. Bank of China (China)
6. JPMorgan Chase (U.S.)
7. BNP Paribas (France)
8. Mitsubishi UFJ Financial Group (Japan)
9. Bank of American (U.S.)
10. Barclays (U.K.)

 

[Chinese-Dragon]

Not just the largest banks, but these are the largest companies in the world.

ICBC has been the number 1 largest company in the world for several years now.

 

[ahojunk]

Wow!

4 of the 5 biggest banks are Chinese.

The other one, HSBC was domiciled in Hong Kong for a long time. If I not mistaken, HSBC may relocate back to Hong Kong.

Don't forget the new multilateral banks, i.e. AIIB and (BRICS) NDB have majority Chinese participation. Both of them are based in Beijing and Shanghai respectively.

China is definitely a global banking powerhouse.

 

[Götterdämmerung]

China has to make sure that these banks will always toe the governmental line and not become the shadow government of China like how the US is run.

 

[Hamartia Antidote]

There's approximately 7000 banks in the USA.

How many does China have? 150?

 

[ahojunk]

There's approximately 7000 banks in the USA.

How many does China have? 150?

If that is the case, the Americans should look at consolidating them and have a smaller number of bigger banks.

Size = clout, power.

 

[AndrewJin]

If that is the case, the Americans should look at consolidating them and have a smaller number of bigger banks.

Size = clout, power.

My preference is big bank, branches around the country.

 

[Hamartia Antidote]

If that is the case, the Americans should look at consolidating them and have a smaller number of bigger banks.

Size = clout, power.

but then you have this problem:

Too big to fail - Wikipedia, the free encyclopedia

"The "too big to fail" theory asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and they therefore must be supported by government when they face potential failure
….
Proponents of this theory believe that some institutions are so important that they should become recipients of beneficial financial and economic policies from governments or central banks
…
Opponents believe that one of the problems that arises is moral hazard whereby a company that benefits from these protective policies will seek to profit by it, deliberately taking positions (see Asset allocation) that are high-risk high-return, as they are able to leverage these risks based on the policy preference they receive"

Does this remind you of another asian country....

 

[AndrewJin]

but then you have this problem:
Too big to fail - Wikipedia, the free encyclopedia

Does this remind you of another asian country....

Chinese bank not western.

 

[Jlaw]

China has to make sure that these banks will always toe the governmental line and not become the shadow government of China like how the US is run.

Of course it will be run by Chinese government and not by Illuminati membersy like the US Federal Reserve Bank. It's crazy to think a group of Illuminati members can dictate the printing and distribution of a nation's currency.

Chinese bank not western.

True, government operated unlike American banks that are privately owned. Especially their Federal Reserve Bank

Me thinks Peter C is jealous

 

[EAsian]

but then you have this problem:

Too big to fail - Wikipedia, the free encyclopedia

"The "too big to fail" theory asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and they therefore must be supported by government when they face potential failure
….
Proponents of this theory believe that some institutions are so important that they should become recipients of beneficial financial and economic policies from governments or central banks
…
Opponents believe that one of the problems that arises is moral hazard whereby a company that benefits from these protective policies will seek to profit by it, deliberately taking positions (see Asset allocation) that are high-risk high-return, as they are able to leverage these risks based on the policy preference they receive"

Does this remind you of another asian country....

I think everyone like a big and safe bank.Didn‘t the last crisis tell you that？

 

[Hamartia Antidote]

I think everyone like a big and safe bank.Didn‘t the last crisis tell you that？

??? No banks near me have failed in recent memory.

 

[CCP]

??? No banks near me have failed in recent memory.

List of largest U.S. bank failures - Wikipedia, the free encyclopedia

Bank City State Date Assets at time of failure
Washington Mutual Seattle Washington 2008 $307 billion
Continental Illinois National Bank and Trust Chicago Illinois 1984 $40.0 billion
City Federal Savings and Loan Elizabeth New Jersey 1989 $39.8 billion
First Republic Bank Dallas Texas 1988 $32.5 billion
IndyMac Pasadena California 2008 $32 billion
American Savings and Loan Stockton California 1988 $30.2 billion
Colonial Bank Montgomery Alabama 2009 $25 billion
Bank of New England Boston Massachusetts 1991 $21.7 billion
MCorp Dallas Texas 1989 $18.5 billion
FBOP Corp banking subsidiaries Oak Park Illinois 2009 $18.4 billion
Gibraltar Savings and Loan Simi Valley California 1989 $15.1 billion
First City National Bank Houston Texas 1988 $13.0 billion
Guaranty Bank Austin Texas 2009 $13.0 billion
Downey Savings and Loan Newport Beach California 2008 $12.8 billion
BankUnited FSB Coral Gables Florida 2009 $12.8 billion
HomeFed Bank San Diego California 1992 $12.2 billion
AmTrust Bank Cleveland Ohio 2009 $12.0 billion
WesternBank Mayaguez Puerto Rico 2010 $11.9 billion
United Commercial Bank San Francisco California 2009 $11.2 billion
Southeast Bank Miami Florida 1991 $11.0 billion
Goldome Buffalo New York 1991 $9.9 billion
Imperial Federal Savings Assoc. San Diego California 1990 $9.6 billion
CenTrust Bank Miami Florida 1990 $8.2 billion
California National Bank Los Angeles California 2009 $7.8 billion
Corus Bank Chicago Illinois 2009 $7.0 billion
First Federal Bank of California Santa Monica California 2009 $6.1 billion
R-G Premier Bank of Puerto Rico Hato Rey Puerto Rico 2010 $5.9 billion
Columbia Savings & Loan Assn. Beverly Hills California 1991 $5.4 billion
Franklin Bank Houston Texas 2008 $5.1 billion
Silverton Bank Atlanta Georgia 2009 $4.1 billion
Imperial Capital Bank La Jolla California 2009 $4.0 billion
PFF Bank & Trust Pomona California 2008 $3.7 billion
Franklin National Bank New York New York 1974 $3.7 billion
La Jolla Bank La Jolla California 2010 $3.6 billion
Frontier Bank Everett Washington 2010 $3.5 billion
Amcore Bank Rockford Illinois 2010 $3.4 billion
First National Bank of Nevada Reno Nevada 2008 $3.4 billion
Riverside National Bank of Florida Fort Pierce Florida 2010 $3.4 billion
Midwest Bank and Trust Company Elmwood Park Illinois 2010 $3.2 billion
First National Bank, also operating as The National Bank of El Paso Edinburg Texas 2013 $3.1 billion
Superior Bank Birmingham Alabama 2011 $3.0 billion
TierOne Bank Lincoln Nebraska 2010 $2.8 billion
Irwin Union Bank and Trust Colorado. Columbus Indiana 2009 $2.7 billion
Orion Bank Naples Florida 2009 $2.7 billion
EuroBank San Juan Puerto Rico 2010 $2.6 billion
First Community Bank Taos New Mexico 2011 $2.3 billion
Integra Bank, NA Evansville Indiana 2011 $2.2 billion
ANB Financial Bentonville Arkansas 2008 $2.1 billion
First Regional Bank Los Angeles California 2010 $2.1 billion
ShoreBank Chicago Illinois 2010 $2.1 billion
Silver State Bank Henserson Nevada 2008 $2.0 billion
New Frontier Bank Greeley Colorado 2009 $2.0 billion
Georgian Bank Atlanta Georgia 2009 $2.0 billion
Vineyard Bank Rancho Cucamonga California 2009 $1.9 billion
Peoples First Community Bank Panama City Florida 2009 $1.8 billion
County Bank Merced California 2009 $1.7 billion
Hillcrest Bank Overland Park Kansas 2010 $1.6 billion
Advanta Bank Corp. Draper Utah 2010 $1.6 billion
CF Bancorp Port Huron Michigan 2010 $1.6 billion
Mutual Bank Harvey Illinois 2009 $1.6 billion
Community Bank of Nevada Las Vegas Nevada 2009 $1.5 billion
First Bank of Beverly Hills Calabasas California 2009 $1.5 billion
Temecula Valley Bank Temecula California 2009 $1.5 billion
New South Federal Savings Bank Irondale Alabama 2009 $1.5 billion
Community Banks of Colorado Greenwood Colorado 2011 $1.4 billion
Horizon Bank Bellingham Washington 2010 $1.3 billion
United States National Bank San Diego California 1973 $1.3 billion
Premier Bank Jefferson City, Missouri Missouri 2010 $1.2 billion
Broadway Bank Chicago Illinois 2010 $1.2 billion
Security Bank of Bibb County Macon Georgia 2009 $1.2 billion
Charter Bank Santa Fe New Mexico 2010 $1.2 billion
Alliance Bank Culver City California 2009 $1.1 billion
City Bank Lynnwood, Washington Washington 2010 $1.1 billion
Columbia River Bank The Dalles Oregon 2010 $1.1 billion
Community Bank and Trust Cornelia Georgia 2010 $1.1 billion
Integrity Bank Alpharetta Georgia 2008 $1.1 billion
Affinity Bank Ventura California 2009 $1.0 billion
Appalachian Community Bank Ellijay Georgia 2010 $1.0 billion

 

[Hamartia Antidote]

List of largest U.S. bank failures - Wikipedia, the free encyclopedia

Bank City State Date Assets at time of failure
Washington Mutual Seattle Washington 2008 $307 billion
Continental Illinois National Bank and Trust Chicago Illinois 1984 $40.0 billion
City Federal Savings and Loan Elizabeth New Jersey 1989 $39.8 billion
First Republic Bank Dallas Texas 1988 $32.5 billion
IndyMac Pasadena California 2008 $32 billion
American Savings and Loan Stockton California 1988 $30.2 billion
Colonial Bank Montgomery Alabama 2009 $25 billion
Bank of New England Boston Massachusetts 1991 $21.7 billion
MCorp Dallas Texas 1989 $18.5 billion
FBOP Corp banking subsidiaries Oak Park Illinois 2009 $18.4 billion
Gibraltar Savings and Loan Simi Valley California 1989 $15.1 billion
First City National Bank Houston Texas 1988 $13.0 billion
Guaranty Bank Austin Texas 2009 $13.0 billion
Downey Savings and Loan Newport Beach California 2008 $12.8 billion
BankUnited FSB Coral Gables Florida 2009 $12.8 billion
HomeFed Bank San Diego California 1992 $12.2 billion
AmTrust Bank Cleveland Ohio 2009 $12.0 billion
WesternBank Mayaguez Puerto Rico 2010 $11.9 billion
United Commercial Bank San Francisco California 2009 $11.2 billion
Southeast Bank Miami Florida 1991 $11.0 billion
Goldome Buffalo New York 1991 $9.9 billion
Imperial Federal Savings Assoc. San Diego California 1990 $9.6 billion
CenTrust Bank Miami Florida 1990 $8.2 billion
California National Bank Los Angeles California 2009 $7.8 billion
Corus Bank Chicago Illinois 2009 $7.0 billion
First Federal Bank of California Santa Monica California 2009 $6.1 billion
R-G Premier Bank of Puerto Rico Hato Rey Puerto Rico 2010 $5.9 billion
Columbia Savings & Loan Assn. Beverly Hills California 1991 $5.4 billion
Franklin Bank Houston Texas 2008 $5.1 billion
Silverton Bank Atlanta Georgia 2009 $4.1 billion
Imperial Capital Bank La Jolla California 2009 $4.0 billion
PFF Bank & Trust Pomona California 2008 $3.7 billion
Franklin National Bank New York New York 1974 $3.7 billion
La Jolla Bank La Jolla California 2010 $3.6 billion
Frontier Bank Everett Washington 2010 $3.5 billion
Amcore Bank Rockford Illinois 2010 $3.4 billion
First National Bank of Nevada Reno Nevada 2008 $3.4 billion
Riverside National Bank of Florida Fort Pierce Florida 2010 $3.4 billion
Midwest Bank and Trust Company Elmwood Park Illinois 2010 $3.2 billion
First National Bank, also operating as The National Bank of El Paso Edinburg Texas 2013 $3.1 billion
Superior Bank Birmingham Alabama 2011 $3.0 billion
TierOne Bank Lincoln Nebraska 2010 $2.8 billion
Irwin Union Bank and Trust Colorado. Columbus Indiana 2009 $2.7 billion
Orion Bank Naples Florida 2009 $2.7 billion
EuroBank San Juan Puerto Rico 2010 $2.6 billion
First Community Bank Taos New Mexico 2011 $2.3 billion
Integra Bank, NA Evansville Indiana 2011 $2.2 billion
ANB Financial Bentonville Arkansas 2008 $2.1 billion
First Regional Bank Los Angeles California 2010 $2.1 billion
ShoreBank Chicago Illinois 2010 $2.1 billion
Silver State Bank Henserson Nevada 2008 $2.0 billion
New Frontier Bank Greeley Colorado 2009 $2.0 billion
Georgian Bank Atlanta Georgia 2009 $2.0 billion
Vineyard Bank Rancho Cucamonga California 2009 $1.9 billion
Peoples First Community Bank Panama City Florida 2009 $1.8 billion
County Bank Merced California 2009 $1.7 billion
Hillcrest Bank Overland Park Kansas 2010 $1.6 billion
Advanta Bank Corp. Draper Utah 2010 $1.6 billion
CF Bancorp Port Huron Michigan 2010 $1.6 billion
Mutual Bank Harvey Illinois 2009 $1.6 billion
Community Bank of Nevada Las Vegas Nevada 2009 $1.5 billion
First Bank of Beverly Hills Calabasas California 2009 $1.5 billion
Temecula Valley Bank Temecula California 2009 $1.5 billion
New South Federal Savings Bank Irondale Alabama 2009 $1.5 billion
Community Banks of Colorado Greenwood Colorado 2011 $1.4 billion
Horizon Bank Bellingham Washington 2010 $1.3 billion
United States National Bank San Diego California 1973 $1.3 billion
Premier Bank Jefferson City, Missouri Missouri 2010 $1.2 billion
Broadway Bank Chicago Illinois 2010 $1.2 billion
Security Bank of Bibb County Macon Georgia 2009 $1.2 billion
Charter Bank Santa Fe New Mexico 2010 $1.2 billion
Alliance Bank Culver City California 2009 $1.1 billion
City Bank Lynnwood, Washington Washington 2010 $1.1 billion
Columbia River Bank The Dalles Oregon 2010 $1.1 billion
Community Bank and Trust Cornelia Georgia 2010 $1.1 billion
Integrity Bank Alpharetta Georgia 2008 $1.1 billion
Affinity Bank Ventura California 2009 $1.0 billion
Appalachian Community Bank Ellijay Georgia 2010 $1.0 billion

Yes, 1 in 1991.

Why are you only insured for 500,000 yuan ($80K) if you only have a few banks?
China to Begin Deposit Insurance in May - WSJ

FDIC Insures Bank Deposits To $250,000 | Bankrate.com

 

[EAsian]

There's approximately 7000 banks in the USA.

How many does China have? 150?

There was more than 10，000 banks in China 10 years ago.The number have been reduced to 1000+ now.