While European banks count the cost of the eurozone sovereign debt crisis, China is leading the emerging markets into a new era of banking dominance. But the established markets of the US and Japan should not be forgotten.
It will come as no surprise that 2011 was the year when the eurozone crisis dragged the global banking sector backwards. Assets and Tier 1 capital in The Banker's Top 1000 World Banks ranking continue to grow, although at a much reduced rate to last year's ranking. But aggregate profits, which had staged two years of recovery since the financial crisis, reversed by 1%, to stay only just above the $700bn mark.
The Banker is shelved on the second floor of the library. It is also available electronically to current London Business School staff, students and faculty from Factiva which can be found on the A-Z list of library databases via Portal.