Bank of America (BAC) tops the rankings in the Top 20 World Banks 2010 list based on Tier 1 capital published by The Banker magazine. Bank of America topped this ranking back in 1970 when the list was released for the first time. The second and third places went to JPMorgan Chase(JPM) and Citigroup (C) of the US respectively.Royal Bank of Scotland (RBS) and HSBC Holdings Ltd (HBC) took the fourth and fifth spots.
Top 20 World Banks for 2010
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Source: The Banker
The three emerging market banks that made it to the global ranks are the Chinese banks – ICBC, China Construction Bank Corp(OTC: CICHY)and Bank of China(OTC: BACHF).
