Foreign media says the market capitalisation of China's three largest banks ranks the world's top three

February 9, 2009, the strength of Chinese banks once again attract attention. ICBC, CCB, and Bank of China ranked top three in global bank market capitalisation rankings.　　Sino-New Society hair Wu Mang Xinhua Beijing, July 19, according to the "Central Society" quoted the French financial news agency "financial Weekly" the latest statistics, the market capitalisation rankings of the world's big banks show that 3 of China's largest banks are among the top 3, while Citigroup, which has topped the list for years, has now fallen outside the top 15. At the end of June 2007, before the subprime mortgage crisis, Citigroup, Bank of America and HSBC were among the top 3, with a market capitalisation of more than $215 billion trillion, and the 15th-place Bank of Italy's combined credit market was worth $93 billion, the Caijing journal article said.　　ICBC, Bank of China and CCB are the 4th, 6th and 7th names respectively. But after the subprime crisis, according to the latest statistics, as of the end of June this year, ICBC has topped the list with 257 billion U.S. dollars, the Chinese construction Bank and the Bank of China, ranked 2nd and 3rd.　　China's Bank of communications is home to around 59.3 billion U.S. dollars in the world's 13th place.　　Another emerging-market country, Brazil's Bank of Iraq, is the world's 12th-largest by market capitalisation of $61 billion trillion. The total market capitalisation of the world's 15 largest banks shrank 28% from two years ago, according to the data. Of the 10 banks remaining in the list, ICBC and CCB only gained market value.　　Two years ago, 13 banks had a market capitalisation of more than $100 billion trillion, and by the end of June, only 6 banks had exceeded that standard, and the top 15 had plummeted from 93 billion to 54 billion. According to statistics, European and American banks were affected by the financial crisis is obvious, the market value of shrinkage far more than other regional counterparts. Citigroup's market capitalisation shrank from $256 billion trillion two years ago to $14.5 billion trillion, and the global rankings plummeted.　　HSBC is the 4th most-ranked bank in Europe and the United States, but its market value shrank by 32% in two years. In addition, UBS, RBS and the two Italian banks also fell out of the world's top 15.　　European and American banks also have new faces on the top 15 lists, including Goldman Sachs, Royal Bank of Canada and Credit Suisse. The article points out that the change of bank market value rank is decided by the performance of 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 "voting by foot" to sell their shares in large quantities. The article said that in emerging market countries such as China and Brazil, the market value of banks has increased because of the small risk of banks and the relative soundness of the overall economy and the large number of investors holding or buying related stocks.