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Chinese Bank Rises To Top Of World Rankings While Uk Rivals Lag

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http://www.independent.co.uk/news/business/news/chinese-bank-rises-to-top-of-world-rankings-while-uk-rivals-lag-8680754.html

The financial world's shift in gravity towards the East was underlined today as China boasts the world's biggest bank for the first time, according to new figures.

The Industrial and Commercial Bank of China is now the biggest bank in the world in terms of balance sheet strength, with $160.6bn (£105.5bn) in tier one capital, according to figures compiled by The Banker magazine.

icBc is one of China's four state-owned behemoths in the top 10.

China's rise contrasts with the fortunes of UK-based banks, which now have just one major player – HSBC – in the top 10. Standard Chartered, which does the lion's share of its business in Asia, was the only UK player to improve its ranking, moving up to 33rd in the global pecking order.

Brian Caplen, editor of The Banker, said: "UK banks always used to outperform in the ranking, but for the past several years they have been slipping back."

What's the leverage of ICBC and is it heavily exposed to Chinese property speculation by the central command?

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biggest banks is like having the biggest skyscraper...always appear as the rest of the area is in collapse.

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http://www.independent.co.uk/news/business/news/chinese-bank-rises-to-top-of-world-rankings-while-uk-rivals-lag-8680754.html

What's the leverage of ICBC and is it heavily exposed to Chinese property speculation by the central command?

Chinese banks offer interest rates of 10% if you can live with the Chinese government freezing your account at any time.

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  • 244 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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