IDCBF - Chinese banks extend lead as the world's biggest banks in 2021

Chinese banks increased their lead as the biggest financial institutions in the world in 2021 and U.S. banks also improved their rankings while many European banks lost ground, according to S&P Global Market Intelligence's annual ranking of the 100 largest banks in terms of total assets. Twenty-six of the 37 European lenders on the list fell in ranking by between one and nine notches from a year earlier. Total assets of all European banks on the list shrank by 2.16% to $36.9T in 2021 from $37.7T a year earlier. "European lenders saw their balance sheets shrink as their home markets offered slower economic growth relative to the rest of the world," said Nathan Stovall, principal analyst at S&P Global Market Intelligence. "Several European lenders also scaled back their stateside operations after facing strong competition from major U.S. lenders." For example, Spain's Banco Bilbao Vizcaya Argentaria (BBVA) fell one spot to No. 47

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Chinese banks extend lead as the world's biggest banks in 2021