The last one-year period has been as memorable as any before in human history. With large portions of the world economy closed over a long period of stretch and the fortunes of a lot of companies and individuals suffering a huge blow The Covid-19 pandemic may have taken a huge burden on the banking industry.
In addition to China and the U.S. and China, France’s BNP Paribas was the top European bank. It is the number. thirty on the Global 2000 list, up 12 slots from 2020. Other countries with banks that are in the top 100 are Canada’s RBC and that of the U.K.’s HSBC. The biggest Russian banking institution is Sberbank Russia, made the leap from the number. 402 in 2014 to the number. 50 in 2021. Mitsubishi Financial Group SBFG +6.8 percent was the most important Japanese bank in the world at the time of its creation. 52. In all, there are 289 banks listed on the list for 2021. Global 2000 list.
Not only did banks survive the storm, but they also played an important part in the recovery of the economy. Within the U.S., for example they distributed PPP loans that the federal government made to small-scale companies. Their dealmaking and trading advisory groups generated their revenues and their reserves grew.
However, overall even though pre-tax profits in most regions have sunk substantially and a lot of banks are having balance sheets that are stuffed with loss on loans — the sector has held its own exceptionally well, particularly when in comparison to the financial crisis of 2007-09. While it is far from being in crisis it is more capitalised than it was in the past.