World BanksLargest Profits top 25 -RY 10thBy Monica Gutschi JUNE 30, 2009, 2:22 P.M. ET
Of DOW JONES NEWSWIRES
TORONTO (Dow Jones)--Canada's biggest banks may have been rated the world's soundest by the World Economic Forum, but they are still relatively small by global standards.
Not one of the country's leading lenders cracked the Top 25 in The Banker's 2009 survey released Tuesday. The list was led by JP Morgan Chase & Co. (JPM), which moved up from number four last year.
Royal Bank of Canada (RY) came in at number 34, while Bank of Nova Scotia (BNS) was 40, Toronto-Dominion Bank (TD) was 46, Bank of Montreal (BMO) was 52 and Canadian Imperial Bank of Commerce (CM) was 71.
However, two of the banks were included in the Top 25 of largest profits, with Royal Bank ranking 10th and TD Bank at number 24. That list was led by Industrial and Commercial Bank of China, which moved up from number eight last year.
And CIBC fell into the list of Top 25 Largest Losses, at number 15. That list was led by Royal Bank of Scotland (RBS), with losses of $59.3 billion.
The Banker, a part of the Financial Times Group, will include the full list in its July edition.
The Top 1000 list has been published since the 1970s and ranks global banks by their capital strength. In a press release, the publication said the survery showed that the world's Top 1000 banks have had "an abysmal year."
It noted system profits fell 85.3% to $115 billion from $780.8 billion, as return on equity dropped to 2.69% from 20%.
Company Web Site: https://www.thebanker.com