Bank of America Corporation has topped The Banker’s Top 1000 World Banks ranking, for the North America region. The Royal Bank of Scotland, meanwhile, picked up top honors for Western Europe, ICBC for Asia and the Brazilian powerhouse Itaú Unibanco Banco Múltiplo S.A. for Latin America.
The rankings are based on the definition of Tier 1 capital as set out by Basel’s Bank for International Settlements (BIS). The definition is stricter than total stockholders’ equity and covers only the core of the bank’s strength – the shareholders’ equity available to cover actual or potential losses. Goodwill is deducted from Tier 1.
For more information about the rankings, visit the Banker’s website.