The increased profits growth reverses last year’s slower growth of 18.6% and reflects heightened economic growth in developed and developing countries and an overall benign economic environment.
The expanded EU (EU27), which accounts for 279 banks in the Top 1000, provides an increased 40.7% of aggregate profits (up from 37.4%) along with an expanding 52.5% of aggregate assets and 42% of aggregate Tier 1 capital.
As the EU27 banks expand, the US banks decline with the 185 US banks accounting for 23.6% of pre-tax profits (down from 26.5%), the 174 Asian banks (excluding Japan) accounting for 12.2% and the 101 Japanese accounting for just 6.7%.
The aggregate Tier 1 of $3360.9bn is again dominated by an expanding EU27 with 42% (up from 41%) followed by the US banks with a reduced 19% and Asia with 14%. Likewise, aggregate assets expanded significantly by 16.3% to $74232.2bn with the EU27 again increasingly dominant with 53% of the total followed by the US (14%) and Japan (12%).
