China dominates GlobalData's list of top 20 APAC banks by revenue in 2019
By MYBRANDBOOK
China has dominated the list of top Asia-Pacific (APAC) banks by revenue in 2019, with 13 banks from the country occupying the top 20 list, according to GlobalData, a leading data and analytics company.
Three banks from Japan, two from South Korea and one each from India and Hong Kong featured in the top 20 list. Overall, it was a steady year for the top 20 banks in APAC as their aggregate revenue increased by about 5% to US$1,405bn from US$1,339bn in the previous year, with 17 banks reporting y-o-y growth. Hana Financial, Hongkong and Shanghai Banking Corp (HSBC) and State Bank of India (SBI) managed to post a growth rate of above 10%.
Parth Vala, Company Profiles Analyst at GlobalData, comments: “Despite decline in interest margin, Hana Financial’s interest income bolstered on account of rise in interest-earning assets across its affiliates. The bank’s fee income from asset management business was on the downside. However, improvement in fees from credit card and sharp rise in M&A advisory fees enabled it to post growth in its non-interest income. In addition, the bank’s revenue growth was also attributable to the one-off items such as 110% growth in gains on valuation of overseas equity investments.”
HSBC benefited from increased lending transactions across its businesses in Hong Kong, India and Singapore, apart from a 51% growth in other operating income, which included favorable movement in the present value of in-force long-term insurance business in Hong Kong.
India’s largest bank SBI’s performance was buoyed by strong interest income from high quality corporate credit, greater focus on consumer lending and significant improvement in asset quality and control in slippages. Its non-interest income too witnessed a sharp rise due to net gains from investment sales, fees from credit card operations and income from insurance premiums.
Of the three banks that witnessed a revenue decline in 2019, Sumitomo Mitsui Financial suffered the most, with decline in net trading income from transactions related to interest rate and foreign exchange meant for economic hedges. Net losses from debt instruments, and decline in income from operating leases and disposal of leased assets also weighed on its overall revenue growth.
Vala concludes: “With COVID-19 already presenting uncertain scenarios in 2020, banking regulators across APAC have taken several measures such as cuts in policy rates, liquidity infusions and stimulus to affected industries. However, it is very likely that the pandemic would substantially expand non-performing portfolios and hence the banks would need to provide more funds to cover probable credit losses. What could be seen as a silver lining in this chaos is that the pandemic has forced the banking sector to accelerate its digital transformation activities.”
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
DIGISOL SYSTEMS LTD.
DELL TECHNOLOGIES INDIA PVT. LTD.
GLOBUS INFOCOM LTD.
ACER INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
ICONS OF INDIA : SHAILENDER KUMAR
Shailender Kumar is senior vice president and regional managing direct...
Icons Of India : Anil Kumar Lahoti
Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TR...
PARTNER SPEAKERS
PSU
DRDO - Defence Research and Development Organisation
DRDO responsible for the development of technology for use by the mili...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
