Turkish banks rank among global giants
ISTANBUL - Hürriyet Daily News | 7/6/2010 12:00:00 AM |
A total of 15 Turkish banks have entered the world’s largest banks list, prepared by The Banker, a prestigious finance and banking publication.
A total of 15 Turkish banks have been named to a list of the world’s largest banks prepared by The Banker, a prestigious finance and banking publication.
The Banker has published the 2010 results of its “Top 1,000 World Banks” survey in this month’s issue. The survey evaluated 1,224 banks from 104 countries. Mirroring last year’s results, 15 Turkish banks appeared on the list.
The “Top 1,000 World Banks” survey was prepared according to banks’ tier-one capital amounts, which include common stock and disclosed reserves.
According to the survey, İşbank, Turkey's biggest publicly traded bank, is the 103rd largest bank in the world with tier-one capital of $10.14 billion. The bank was ranked as the top Turkish lender.
Akbank was ranked as the world’s 110th largest bank, with $9.26 billion in tier-one capital. The bank came in second on the Turkey list. Garanti, a Turkish bank co-owned by General Electric, entered the world’s top banks list at the 117th spot with $8.84 billion. Garanti was the third largest bank in Turkey, according to the survey.
Ziraat Bank, Turkey's biggest state bank, came in the 131st place with $7.02 billion in tier-one capital, fourth in Turkey. According to the survey, Yapı Kredi, co-owned by Italy's UniCredit, was the fifth largest bank in Turkey list with $4.74 billion in tier-one capital.
Vakıfbank, Halkbank, Finansbank, Denizbank, Fortis Bank, Bank Asya, Türk Ekonomi Bankası, Şekerbank, Anadolu Bank and Tekstil Bank rounded out Turkey’s presence on the list.
According to the survey, Bank of America was the world’s largest bank, with $160.4 billion in tier-one capital, leaving last year’s champion JPMorgan behind. JPMorgan ranked second this year with $132.9 billion.
Three banks from China, one bank from Japan and five banks from the United States were on the world’s top 20 banks list. The U.S. has the biggest banks, followed by the United Kingdom and France. One bank each from Spain, Germany and Italy also appeared in the top 20.
According to the survey, Ziraat Bank topped the return on average capital list for banks in Western Europe. First Financial Bancorp, of the U.S., was the top bank in return on average capital among all banks.