World’s Safest Banks: Biggest Emerging Markets Banks

Emerging markets banks continue to grow despite currency devaluations.

The assets of the 50 biggest emerging markets banks rose in 2015 by 35%, to $27.2 trillion, even as many emerging markets currencies lost value against the dollar.

The rise in asset size of the biggest 50 was driven by the continuing expansion of Chinese banks, which grew despite a devaluation of the renminbi.

The combined assets of the 20 Chinese banks that are included in Global Finance’s listing of the Biggest 50 Emerging Markets Banks was $21.2 trillion, which is 78% of the total. China Everbright Bank moved up from 15th position to 13th. The biggest non-Chinese bank is State Bank of India, followed by Sberbank of Russia and Banco do Brasil.

Four new banks are included in the biggest 50 in 2016: Venezuela’s Banesco Banco Universal, Emirates NBD, Bank of Ningbo and CIMB of Malaysia. All show significant asset growth compared with last year. The four banks that fall out of the ranking are Garanti Bank, Mega International Commercial Bank, Public Bank (Malaysia) and Korea Exchange Bank, which has merged with Hana Bank.

Several emerging markets currencies lost value against the dollar in 2015. Brazil’s real fell by 31%, Russia’s ruble by 22%, Malaysia’s ringgit by 18% and the Turkish lira by 21%. Banks from these countries show declines in asset size, but in many cases not by as much as the currency devaluation, indicating that the banks continued to grow in terms of their reporting currencies.

The four GCC banks in the Biggest 50—Qatar National Bank, National Commercial Bank, National Bank of Abu Dhabi and Emirates NBD—showed strong growth despite the deterioration in the Gulf economy that resulted from lower oil prices. All four banks’ currencies are pegged to the dollar.

The 2016 ranking of the biggest banks includes 20 from China, seven from South Korea (one fewer than last year), six from Brazil, four from India, four from the GCC and two each from Taiwan, Russia, Turkey and Malaysia. Banks from Russia, Turkey and India fall far short of the ratings needed for inclusion in Global Finance’s Safest Global, Emerging Markets and Commercial Bank lists, despite their significant size within the emerging markets banking system.


Rank

Group Name

Country

Total Assets
USD Mln

1

Industrial and Commercial Bank of China

China

3,421,363

2

China Construction Bank Corporation

China

2,826,695

3

Agricultural Bank of China

China

2,740,721

4

Bank of China

China

2,590,402

5

China Development Bank Corporation

China

1,685,954

6

Bank of Communications

China

1,102,266

7

China Merchants Bank

China

843,407

8

Industrial Bank

China

816,280

9

China CITIC Bank

China

789,077

10

Shanghai Pudong Development Bank

China

777,070

11

China Minsheng Bank

China

696,401

12

Agricultural Development Bank of China

China

513,517

13

China Everbright Bank

China

487,978

14

State Bank of India

India

431,391

15

Export-Import Bank of China

China

386,953

16

Ping An Bank

China

386,295

17

Sberbank

Russia

375,051

18

Banco do Brasil

Brazil

355,736

19

Itau Unibanco Holding

Brazil

326,934

20

Hua Xia Bank

China

311,269

21

Caixa Economica Federal

Brazil

308,202

22

Bank of Beijing

China

284,204

23

China Guangfa Bank

China

282,922

24

Korea Development Bank

South Korea

263,959

25

Banco Bradesco

Brazil

262,974

Rank

Group Name

Country

Total Assets
USD Mln

26

KEB Hana Bank

South Korea

249,385

27

Woori Bank

South Korea

248,920

28

Kookmin Bank

South Korea

247,572

29

Shinhan Bank

South Korea

243,077

30

Banco Nacional de Desenvolvimento Economico e Social (BNDES)

Brazil

238,353

31

Bank of Shanghai

China

220,153*

32

Industrial Bank of Korea

South Korea

204,557

33

Nonghyup Bank

South Korea

197,800

34

VTB Bank

Russia

185,629*

35

Maybank

Malaysia

165,038

36

Banco Santander

Brazil

155,064

37

Bank of Taiwan

Taiwan

146,068

38

Qatar National Bank

Qatar

147,969

39

ICICI Bank

India

131,981

40

Banesco Banco Universal

Venezuela

125,595

41

National Commercial Bank

Saudi Arabia

119,824

42

CTBC Bank

Taiwan

117,307

43

Bank of Baroda

India

117,266

44

Turkiye Is Bankasi

Turkey

111,848

45

National Bank of Abu Dhabi

UAE

110,705

46

Emirates NBD

UAE

110,704

47

Bank of Ningbo

China

110,334

48

CIMB

Malaysia

107,506

49

T.C. Ziraat Bankasi

Turkey

106,614

50

Punjab National Bank

India

101,614

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