11 July 2008
HSBC has jumped from third to first place in the latest annual Banker magazine survey of the world's top one thousand banks (Top 10001). HSBC is the first non-US company in nine years to lead the survey and tops the rankings by virtue of its Tier 1 capital and profit before tax, which last year reached a new high.
The survey found that US banks now account for just 14 per cent of aggregate Top 1000 pre-tax profits, down from 24 per cent last year, while Asian banks rose to 19 per cent from 12 per cent. European bank profits remained flat at 41 per cent of the total.
In April, HSBC also topped the Forbes 2000 list of world's largest companies - the first non-US company to do so, having delivered 26 percent growth in annual revenue and 31 per cent in net income over the past five years.
Media inquiries to Neil Brazil on neilbrazil@hsbc.com or at 020 7992 15723
1For further information please go to: www.thebanker.com
HSBC Holdings plc
HSBC Holdings plc serves over 128 million customers worldwide through around 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of some US$2,354 billion at 31 December 2007, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.
