Japanese Banks' Assets Drop As China Thrives

S&P Global's 2023 report reflect how lower deposits and a drop in lending has taken their toll on Japanese lenders and other banks in the list.

Chinese banks continue to reign supreme over Asia Pacific as the region’s largest lenders whilst most of Japan’s biggest banks saw their rankings fall in the 2023 edition of S&P Global Market Intelligence report.

The report reflects how Chinese banks maintained their dominance in the region, solidifying their positions as the largest banks both locally and globally in terms of asset size.

The Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China remained the four biggest banks in Asia Pacific and in the world. Their combined total assets grew 4.1% in 2022, to over US$19.87t.

A total of 23 mainland China banks appeared in the APAC list, with one newcomer: Huishang Bank Corporation, which ranked in the top 50. Not including Huishang Bank, the total assets of the 22 remaining Chinese banks grew 2.4% to US$35.38t.

Japanese banks’ assets may drop further