Who has the best and largest bank ?
ICBC Honored “2013 Best Bank in China” by Finance Asia
The FinanceAsia magazine recently announced the winners of its 2013 Country Awards. ICBC was named “Best Bank in China” for the sixth year since nominated for the ranking. ICBC won the title primarily credited to its good performance, consistent reform and innovation as well as solid market position.
Wells Fargo deposes China’s ICBC as world’s biggest bank
Wells Fargo Ousts ICBC as World’s Biggest Bank. Wells Fargo & Co. of the United States is now worth $236 billion, according to the New York Stock Exchange, where it is listed, while Chinese figures show ICBC’s value has fallen to around $223 billion.
As the US economy recovered after the crisis, the rebound of the real estate sector supported the recovery of Wells Fargo.
Reduced expectations for China’s economic growth and a cash crunch that hammered the nation’s financial sector this spring—along with signs that the U.S. economy is recovering and the end of ultralow interest rates may be in the offing—have shifted those perceptions again. A long-awaited rally in U.S. bank shares has lifted the value of companies such as San Francisco-based Wells Fargo and J.P. Morgan Chase JPM -0.28% & Co. of New York…Two continents two perspectives