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Observations on the 2024 World Bank Top 1000 List①

In the banking industry, there are two lists that are relatively authoritative and recognized. One is the World Bank Top 1000 published by the British magazine The Banker, and the other is the China Banking Association's China Banking Top 100. Recently, The Banker published the 2024 World Bank Top 1000, with 143 Chinese banks on the list. What changes have taken place in the rankings? Are there any new faces on the list? Observation of the 2024 World Bank Top 1000 list, to interpret for you.

Among the 143 banks, 60 moved up in ranking and 12 maintained their positions. Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China continued to rank in the top four of the world's top 1000 banks, followed by Bank of Communications, China Merchants Bank, Postal Savings Bank of China, Industrial Bank, CITIC Bank and Pudong Development Bank. Among them, China Merchants Bank, Industrial Bank and CITIC Bank all moved up one place, while Pudong Development Bank dropped one place.

Other banks shortlisted in the top 100 include China Minsheng Bank, China Everbright Bank, Ping An Bank, China Hua Xia Bank, Bank of Beijing, China Guangfa Bank, Bank of Jiangsu, Bank of Shanghai, Bank of Ningbo, China Zheshang Bank and Bank of Nanjing. Only China Hua Xia Bank and China Guangfa Bank dropped in the rankings, by 3 and 1 place respectively.

Xiangcai Plus noticed that three banks made the list for the first time in 2024, namely Zhejiang Xiaoshan Rural Commercial Bank, Luzhou Bank, and Jiangsu Su Shang Bank. Among them, Xiaoshan Rural Commercial Bank can be regarded as a dark horse among rural commercial banks. It ranked 438th for the first time, ranking 90th among the 143 Chinese banks on the list, and 17th among the 34 rural commercial banks on the list.

△Xiaoshan Rural Commercial Bank.

The history of Xiaoshan Rural Commercial Bank can be traced back 70 years ago. In 1954, a rural credit cooperative was established, a rural credit union was established in 1987, it was restructured into a rural cooperative bank in 2004, and then into a rural commercial bank in 2014. The bank is based in Xiaoshan, radiates Qiantang District and the main urban area of ​​Hangzhou, and is committed to building a first-class benchmark community bank in the country. As of the end of June 2024, the bank's total assets were 375.919 billion yuan.

Xiangcai Plus statistics show that Xiaoshan Rural Commercial Bank's asset scale has maintained a double-digit growth rate in the past six years, with a year-on-year increase of 24.43% in 2023. It achieved annual operating income of 7.015 billion yuan and net profit of 2.789 billion yuan, up 10.31% and 12.67% year-on-year respectively. The non-performing loan ratio was 0.88% and the provision coverage ratio was 621.77%.

Luzhou Bank was established in 1997. It was formerly known as Luzhou Urban Cooperative Bank and later renamed Luzhou Commercial Bank. It is a state-owned enterprise under Luzhou City, with Luzhou Laojiao Group as the largest shareholder. In 2018, Luzhou Bank went public in Hong Kong, becoming the second listed bank in Sichuan Province and the first listed bank in a prefecture-level city in the western region. In 2019, the bank was officially named Luzhou Bank. By the end of 2023, the bank's asset size was 157.636 billion yuan.

Su Shang Bank was formerly Suning Bank. It was established in June 2017 and is the first private bank in Jiangsu. In March 2024, it officially changed its name to "Shangbang". The bank's external caliber is a major brand upgrade, but some people believe that the name change is to dilute the color of its debt-ridden major shareholder Suning.com. As of the end of June 2024, the bank's total assets were 121.147 billion yuan, and its operating income and pre-tax profit increased by about 15% year-on-year.

In addition to the above three newly listed banks, the top ten banks with the fastest growth include Nanxun Bank, Jiaxing Bank, Guangdong Nanyue Bank, Baoding Bank, Yantai Bank, Ningxia Bank and Wenzhou Bank. Among them, Nanxun Bank is a rural commercial bank, and the others are all city commercial banks, and their rankings have all risen by more than 50 places.

Among the above 7 banks, Wenzhou Bank and Guangdong Nanyue Bank ranked high, ranking 358th and 363rd respectively. Wenzhou Bank ranked 389th in 2022 and fell out of the top 400 in 2023, while Guangdong Nanyue Bank rose from outside the top 400 to its current position.

△Wenzhou Bank.

Wenzhou Bank was established in 1998. Its predecessor was Wenzhou Commercial Bank, which was formed by the integration of 29 urban credit cooperatives, 6 financial service cooperatives and 8 business offices. In 2007, it was successfully renamed and started cross-regional operations, and successively established branches in 9 cities including Shanghai, Hangzhou and Ningbo. As of the end of 2023, the total asset scale is 500.4 billion yuan, and the largest shareholder is Wenzhou State-owned Financial Capital Management Co., Ltd. controlled by Wenzhou Finance Bureau.

Guangdong Nanyue Bank was established in 1998. Its predecessor was Zhanjiang City Commercial Bank. It was approved to change its name in 2011. In 2021, it introduced Guangdong Finance Holdings as a strategic controlling shareholder and transformed into a state-controlled city commercial bank. By the end of 2023, the bank's assets exceeded 300 billion yuan, breaking a historical high.

The rankings of 23 banks rose by more than 10 places, including 2 private banks, 5 rural commercial banks, and 15 city commercial banks. The two private banks are WeBank (ranked 255, up 29 places) and MyBank (ranked 404, up 14 places). The five rural commercial banks are Chengdu Rural Commercial Bank (ranked 200, up 15 places), Hangzhou United Rural Commercial Bank (ranked 305, up 17 places), Tianjin Binhai Rural Commercial Bank (ranked 371, up 35 places), Changshu Rural Commercial Bank (ranked 385, up 20 places), and Kunshan Rural Commercial Bank (ranked 572, up 17 places).

List of banks that are new to the list, have risen in rank, or have maintained their position(Rankings are sorted by ascending order)

Coordinated by/Xinxiangcai Article by/Xiangcai Plus

*Important note: All data or information cited in Xiangcai Plus articles are from public channels such as the periodic reports, interim announcements, official releases and media reports of the companies mentioned in the articles, and we make every effort to ensure that the data can be verified and the information can be verified. If there are any possible errors or omissions, please leave us a message.