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The Global Finance magazine recently published the list of biggest banks in emerging markets. The table below lists the ten biggest banks in Asia for 2010. These banks were ranked based on their total assets as of September, 2010. The data was provided by Bankersalmanc.com.

Rank Name Country
1 Industrial & Commercial Bank of China* China
2 China Construction Bank* China
3 Agricultural Bank of China* China
4 Bank of China China
5 Bank of Communications China
6 China Merchants Bank* China
7 Shinhan Bank* South Korea
8 Shanghai Pudong Development Bank China
9 State Bank of India India
10 Kookmin Bank* South Korea

Note: *Asset figures provided by bank

Chinese banks dominate this list taking 7 of the 10 places. Industrial And Commercial Bank of China Ltd (OTC:IDCBF.PK) is China’s largest lender with about 200 branches in 28 countries. ICBC said on Friday that profits from its overseas branches will total around $1 billion in 2010. The second rank holder China Construction Bank Corp (OTC:CICHF.PK) has a 3.24% dividend yield. South Korea’s Shinhan Financial Group Co Ltd (SHG) pays a less than 1% dividend and KB Financial Group (KB) pays no dividend. Shinhan was up over 26% and KB was up just over 4% in 2010. India’s largest state-owned lender State Bank of India is not yet listed on the U.S. markets.

Disclosure: No positions

Source: The 10 Largest Banks in Asia