On July 1, the British magazine The Banker published the list of the Top 1000 World Banks 2019, which Industrial and Commercial Bank of China (“ICBC”) ranks first for the seventh consecutive year with tier 1 capital of USD337.5 billion. The Bank also ranks first among its global peers in terms of total assets and pre-tax profit.

According to the data released by The Banker, a total of 136 Chinese banks made into the Top 1000 World Banks this time. Among the top ten banks, China and the US each have four, while the UK and Japan each have one. It is learnt that tier 1 capital is a key indicator to comprehensively measure commercial banks’ ability of business development and risk tolerance, and also an important guarantee for achieving sustainable development. Judging from the changes of the list, China has gained steady momentum for economic growth, and its banking industry has continually improved its overall strength, with Chinese-funded banks moving into the top ten for the first time in 2007, and holding the top four positions for a second-straight year till now, while no Chinese banks made into the top ten in 2004.

The Banker, a world famous media in the financial sector, has provided financial information to the world since 1926. Since 1970, it has been releasing the Top 1000 World Banks annually, which serves as an important benchmark for the global banking industry and provides comprehensive information on the industry development and profitability.