The Asia Pacific region (APAC) covers the largest global sector both in terms of geographic area and population. As well, it includes the two major countries that have displayed the fastest rate of economic growth over the past two decades, India and China. Consequently, the largest banks in Asia Pacific region also rank amongst the largest in the world.
20 countries and territories are counted in the Asia Pacific region and taking the top 500 banks, they account for a combined $58.4 trillion in assets, $30.4 trillion in net loans, $40.5 trillion in deposits and $416 billion in net profit. Industrial and Commercial Bank of China remained the largest bank in the region.
Chinese banks continue to dominate the list, with their total assets accounting for just more than 50% of the combined assets of the Asia Pacific bloc. The total number of Japanese banks has declined recently, with the drop partially attributable to regional bank mergers in Japan.
The following table shows the total number of banks per country that rank within the 100 top banks in Asia Pacific.