In 2023, China’s domestic systemically important banks grew to 20, led by China Merchants Bank in the TAB Global 1000 World’s Strongest Banks 2023 ranking, but some still require more capital despite improved capital ratios

Four banks in Bangladesh on the TABInsights Bank Watch List reported an average gross NPL ratio of 17.8% in FY2022, while Indian banks demonstrated improved asset quality, with none making the list, highlighting resilience to economic fluctuations

Trade finance is gradually digitalising amid evolving e-commerce models, driven by technology and sustainability; the $2.5 trillion global trade finance gap affecting SMEs prompts innovation in blockchain, tokenisation, and sustainability, despite geopolitical complexities

The majority of institutions surveyed attribute their increased Renminbi usage to China’s investments and partnerships facilitated by the Belt and Road Initiative

The global use of Renminbi is influenced by geopolitics, macroeconomic conditions, infrastructure, and technology

Surveyed institutions continue to adopt RMB in cross-border trade, driven by cost benefits and foreign exchange risk management

Alipay retains its top spot in this year’s ranking, while Apple Pay climbs higher with its expanded financial services ecosystem

Financial institutions are swiftly adopting blockchain and cryptocurrencies, catalysing regulatory discussions and heralding a significant shift in the global financial system.

China’s bank-backed fintechs, such as CCB Fintech and OneConnect, grapple with profitability, fierce competition from tech giants and evolving regulatory landscapes.

The global outage led by the CrowdStrike-Microsoft faulty software update underscores the emerging gaps in resilience, interdependence of systems, vendor concentration, and single points of failure in networks

North America and Asia Pacific banks maintain overall balance sheet strength over those in other regions, with the Middle East showing some improvements. Profitability among all 1000 banks improved, driven by higher interest rates, while asset quality indicators stayed stable.