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BANK of AMERICA CORP (BAC) 16.09 green arrow $0.01 (0.06%) 05:06AM (15 mins delay)


The World's 25 Most Profitable Banks in 2008

Jul 02, 2009 - 12:28 PM EDT

David Hunkar submits:

The following are the 25 most profitable banks in the world based on their 2008 earnings as per The Banker magazine:

Rank Bank Country Ticker
1 ICBC China
2 China Construction Bank Corp China
3 Santander Central Hispano Spain STD
4 Bank of China China
5 BBVA Spain BBV
6 HSBC Holdings UK HBC
7 Barclays Bank UK BCS
8 Agricultural Bank of China China
9 UniCredit Italy
10 Royal Bank of Canada Canada RY
11 Societe General France SCGLY.PK
12 Commonwealth Bank Group Australia
13 BNP Paribas France BNPQY.PK
14 Dexia Belgium
15 Credit Agricole Group France
16 Bank of Communications China
17 Mizuho Financial Group Japan MFG
18 Standard Chartered UK
19 Nordea Group Sweden
20 Banco Bradesco Brazil BBD
21 Westpac Banking Corporation Australia WBK
22 Bank of America Corp US BAC
23 Sberbank Russia
24 Toronto-Dominion Bank Canada TD
25 US Bancorp US USB

Not surprisingly, Chinese banks dominates this list with a total of five listings including three of the top five.. ICBC of China ranks the most profitable in the world with a profit of $21.2B. Banco Santander (STD) of Spain came at third with a profit of $15.8B. Among the British banks , Barclays (BCS) and HSBC (HBC) are on this list because they are in relatively better shape than peers like Llyods (LYG), Royal Bank of Scotland (RBS), etc. Royal Bank of Canada (RY) ranked number ten. Royal Bank is the most profitable of all the large Canadian banks and is a long-term consistent performer. Banco Bradesco of Brazil (BBD) made it to this list at number two beating competitor Banco Itau Unibanco (ITUB). Among the big four Australian banks, Westpac (WBK) and Commonwealth Bank Group are on this list. Bank of America Corp (BAC) and US Bank (USB) are the only two US banks in the rankings but came in at the bottom of the list mirroring the performance of the housing market and the U.S. economy in general.


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Source: Seeking Alpha (Jul 02, 2009 - 12:28 PM EDT)



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