Chinese banks dominate the world’s top 10 banks by net profit, but their profit growth lagged behind US and UK banks, mainly due to rate cuts, narrowing profit margins.
Chinese banks dominate the world’s top 10 banks by net profit, but their profit growth lagged behind US and UK banks, mainly due to rate cuts, narrowing profit margins.
Digital banks continue to experience rapid growth in users, assets and revenue, with Brazil’s Nubank, the retail arm of ING Group and China’s WeBank leading the sector. Profitability among digital banks has improved, with a shorter time to break even.
JPMorgan Chase, Emirates NBD and Standard Chartered Hong Kong top TABInsights World’s Best Retail Banks Ranking, with the top 50 banks showing modest improvements in retail profitability.