China Construction Bank (CCB), the Hong Kong-listed lender, has been named as the top bank in China, according to a bank rating report released yesterday.

The report into the top 100 Chinese banks was published by The Banker, a British magazine renowned for its annual publication that rates the Top 1,000 global banks.
Indicators such as assets, pre-tax profits and the capital asset ratio were used to assess and rate the banks, according to the magazine.

The top slots in the listing are all occupied by the country's giant State-owned banks.

Bank of China, which raised US$11.2 billion in the world's largest initial public offering in six years earlier this month, was ranked second.

A woman makes a phone call in front of a billboard advertising China Construction Bank in Shanghai. The Hong Kong-listed lender, has been named as the top bank in China, according to a bank rating report released yesterday. [China Daily]

It was followed by the Industrial and Commercial Bank of China, which is expected to go public later this year.

Agricultural Bank of China, which is currently undergoing restructuring and also planning a listing, came in fourth place.

This is the first time that The Banker has published a list of top banks in China, a fact that the magazine said demonstrates the country's growing financial sophistication.

"We hope this listing provides a truly comprehensive picture of China's banking industry," said Stephen Timewell, editor-in-chief of The Banker.

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