By Andrew Cunningham
Global Finance presents its annual listing of the Biggest Banks in the Emerging Markets.
Eight of the 10 biggest emerging markets banks are Chinese, and a further 10 Chinese banks are included in the rankings of the biggest 50 emerging markets banks, ranked by end-2011 assets. The assets of each of the largest two Chinese banks—ICBC ($2,456 billion) and CCB ($1,949 billion)—are larger than the combined assets of all six Brazilian banks included in the ranking. The combined assets of the biggest 50 were $17,757 billion.
India and Turkey contribute seven banks to the list, though their ratings fall far short of levels required to feature in the safest banks ranking. In contrast, the Arabian Gulf contributes only two banks, Qatar National Bank (48th position) and National Commercial Bank (49th position), despite having 22 banks included in the global safest 50 listings.
Global Finance’s listing of the biggest 50 emerging markets banks is based on end-2011 data supplied by Fitch Solutions and Moody’s Investors Service. Wholly owned subsidiaries of developed markets banks are not eligible for inclusion.