-23.94
At the end 2020, the period under review, the Top 1000âs combined pre-tax profits contracted by 18.8% year-on-year, with both the UK and Germany seeing larger profit falls than the US.
The good news is that, overall, the banking industry has done relatively well. Collectively, the Top 1000 banks have built up the highest ever level of Tier 1 capital, reaching $9.9tn. In addition, total assets increased by 16%, to $148.6tn, while the deposit base expanded by 17%, to $93.9tn.
China continues to be the growth engine of the worldâs banking industry, increasing both aggregate Tier 1 capital and total assets by just over 18%. The country, with 144 banks in the ranking, now holds almost double the amount of Tier 1 capital ($2.96tn) as the US ($1.58tn), with 178 banks in the ranking. China was also one of just 16 countries that bucked the general trend and increased its aggregate pre-tax profits this year, by 5.2%.
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