The current financial crisis has reshuffled the global ranking for banks according to market value. According to Reuters' 2008 rankings, the top three banks in market value are all Chinese banks.
IndustrialandCommercialBankofChinahasamarketcapof
167billionUSdollars.
Top among them is Industrial and Commercial Bank of China with a market cap of 167 billion US dollars. China Construction Bank and Bank of China followed with 115 billion and 95 billion US dollars respectively.
Britain's HSBC and the US's JP Morgan follow further on the list. The US's Citibank which used to be top ranked now only posted a market value of 21 billion US dollars. This is a fall of 92 percent compared to two years ago. It is now no longer in the top ten.
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