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		</div><p>Chinese banks now have three banks in the world’s top five banks, with ICBC in top spot for the third year in a row with US$248bn of Tier 1 capital at its disposal.</p>
<p>The report from The Banker said: “Chinese banks are powering ahead in the ranking but are not filling the gap left by the shrinking international banks.”</p>
<p>The global banking model has been on the retreat since the financial crisis due to a slower world economy and tighter regulatory control.</p>
<p>According to the report, ICBC aims to have 10% of its assets outside China in five years’ time.</p>
<p>The survey calls this “small in comparison with the global banks in their heyday”.</p>
<p>The UK’s largest bank HSBC has clung on to a place in the world’s top 10 banks, falling to ninth place from fifth last year. HSBC was the biggest bank in the world in 2008.</p>
<p>Brian Caplen, editor of The Banker, said: “At one time the ambition of the largest banks was to have operations in all parts of the world and across all business sectors. Now they are focusing on a few areas in a bid to restore profitability. We may have seen the end of the global bank.”</p>
<p>The largest three banks in the world are China’s ICBC, China Construction Bank with $202bn of Tier 1 capital and America’s JPMorgan with $187bn of Tier 1 capital.</p>
<p><b>The top 10 world banks ranked by their Tier 1 capital</b></p>
<li>ICBC – China – $248bn</li>
<li>China Construction Bank – China – $202bn</li>
<li>JPMorgan – US – $187bn</li>
<li>Bank of China – China – $184bn</li>
<li>Bank of America – US – $169bn</li>
<li>Agricultural Bank of China – China – $$168bn</li>
<li>Citigroup – US – $167bn</li>
<li>Wells Fargo &#038; Co – US – $155bn</li>
<li>HSBC – UK – $153bn</li>
<li>Mitsubishi – Japan – $118bn</li>
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