Top 50 Banks Lose USD148.7billion Over 10 Years

The market cap of the world's top 50 banks has decreased by USD148.7 billion since 1999
By None

The market cap of the world’s top 50 banks has decreased by USD148.7 billion since 1999.

An FT Report marking the change in the top 50 banks over the past ten years highlights the scale of the recent economic crisis.

The top three banks are now Chinese, with the Industrial & Commercial Bank of China taking first place with a market cap of USD175.3 billion. In 1999, Citigroup came in first at USD150.9 billion. The bank is now placed 46th with a market cap of USD13.7, a decrease of 91%.

Lloyds TSB suffered the biggest fall out of the European banks. 4th in 1999, the bank is now out of the top 50 at 53rd.

With none in 1999, there are now 5 Canadian banks in the top 50, Royal Bank of Canada heading the pack with a market cap of USD40.3 billion (10th).

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