China's three largest banks are the world's largest market capitalisation

Xinhua Paris July 18, according to the French financial news agency "Financial Weekly," the latest issue, compared to the previous loan crisis in two years ago, the world's largest banks market capitalisation has changed significantly.　　China's three largest banking institutions are among the top three, and Citigroup, which has been the top of many years, has slipped out of the top 15. At the end of June 2007, before the subprime crisis, Citigroup, Bank of America and HSBC were among the top three, with a market capitalisation of more than $215 billion trillion, and the 15th-place Italian joint credit Bank, which was the market capitalisation of $93 billion trillion, the Caijing magazine article said.　　China's three listed banks, ICBC, BOC and CCB are ranked four, sixth and seventh respectively. By the end of June this year, ICBC topped the list with $257 billion trillion in market capitalisation, with CCB and BOC ranked second and third. China's Bank of Communications also ranks among the rankings, ranking 13th in the world at around $59.3 billion trillion in market capitalisation.　　Another major commercial bank in emerging markets has also appeared in this year's list, with the Brazilian Bank of Iraq, which ranks 12th in the global market by 61 billion dollars. The total market value of the world's 15 largest banks shrank by 28% compared with two years ago. Of the 10 banks remaining on the list, only ICBC and CCB have seen market capitalisation rise.　　Two years ago, 13 banks had a market capitalisation of more than $100 billion trillion, and by the end of June only 6 banks were worth more than that, and the top 15 hurdles were slashed from 93 billion to $54 billion. The statistics also show that banks in Europe and the US have been hit by the financial crisis, and their market capitalisation has shrunk far beyond those of other regions. Citigroup's market capitalisation shrank from $256 billion trillion two years ago to $14.5 billion trillion, and the global rankings plummeted. HSBC, the top-ranked European and American Bank, ranked fourth, but its market value shrank by 32% in two years. In addition, UBS, RBS and Italy's two banks also slid out of the world's top 15.　　Of course, European and American banks also have new faces on the top 15 lists: Goldman Sachs, Royal Bank of Canada and Credit Suisse. The financial weekly article points out that the change in the bank's market capitalisation is determined by the performance of its stock price.　　The financial and economic crisis has led to a sharp decline in the performance of riskier banks, with major businesses affected and investors taking a "vote by foot" method to sell their shares in large quantities. Emerging market countries such as China and Brazil are also increasingly market capitalisation because of their small exposure to their banks and the relative soundness of the economy as a whole, as investors hold or buy shares in large quantities.