Financial services major, HSBC Bank, has topped the list of the world’s 1,000 banks in the latest annual Banker magazine survey.
HSBC is the first non-US company to lead the survey since 1999 and tops the rankings by virtue of its Tier-1 capital and profit before tax, which last year reached a new height, a company press release said in Mumbai.
The survey found that US banks now account for just 14 per cent of the aggregate top 1,000 pre-tax profits, down from 24 per cent last year, the release said.
On the other hand, Asian banks now account for 19 per cent from the 12 per cent earlier.
The survey, however, found that European bank profits remained flat at 41 per cent.
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