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Sign of the times: The world's largest bank by market cap is no longer a Chinese one as Wells...

Sign of the times: The world's largest bank by market cap is no longer a Chinese one as Wells Fargo (WFC) overtakes Industrial & Commercial Bank of China for the top spot. ICBC had wrested the #1 ranking from Citigroup in 2007 as the Western credit bubble was just beginning to blow. "There's been a complete 180 degree turn in perceived danger," says an observer. "The U.S. banks are exiting danger and Chinese banks are entering."
Comments (10)
  • deercreekvols
    , contributor
    Comments (5585) | Send Message
     
    Believe it or not, Wells Fargo is considered a "regional bank."
    How can a regional bank be the worlds largest?
    Not sure how they can be considered this, but it is Wall Street, after all.
    23 Jul 2013, 03:37 PM Reply Like
  • Amber Li
    , contributor
    Comments (27) | Send Message
     
    The largest market cap, which means investors are bullish on the bank's future, I think.

     

    The Chinese banks may be hurt by the previous "cash crunch", which also dampened investor confidence, according to a report by DZH News.
    23 Jul 2013, 10:26 PM Reply Like
  • Gallop
    , contributor
    Comments (2) | Send Message
     
    There is a bias that if you are not a "Wall Street" bank, and you don't choose to underwrite securities, and you think like a "retail" banker serving customers, you must be just regional. I think it's quite refreshing that banking success is still outside of Wall Street......don't forget, Wells CEO at the time wanted to privately turn down TARP.
    23 Jul 2013, 03:43 PM Reply Like
  • Tack
    , contributor
    Comments (13401) | Send Message
     
    Remember, a short while back the "cw" was that U.S. banks were finished?
    23 Jul 2013, 07:10 PM Reply Like
  • Zeus2012
    , contributor
    Comments (704) | Send Message
     
    So maybe it may be time to fade the rally in the U.S. financials? Seems like the easy money has been made.

     

    On the flip side, sentiment seems overly bearish on China. May make sense to take a contrarian view.
    23 Jul 2013, 08:15 PM Reply Like
  • lghdavid
    , contributor
    Comments (26) | Send Message
     
    Even if it may be seen as a "national bank", WF is not as internationalized as ICBC. China is undergoing economic restructuring, with complexities and uncertainties. It looks to rebound in the long term, though. Keep an eye on DZH News. You know the answer.
    23 Jul 2013, 10:25 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1890) | Send Message
     
    How many banks have massive exposures to city lenders? When all the cities go bankrupt, when California goes bankrupt etc., will the banks remain solvent?
    23 Jul 2013, 08:48 PM Reply Like
  • sethmcs
    , contributor
    Comments (3280) | Send Message
     
    Not so sure its a good thing to be the worlds largest anything. Seems to be the kiss of death. The bigger they are the harder they fall.
    23 Jul 2013, 10:21 PM Reply Like
  • Jessica Sun
    , contributor
    Comments (17) | Send Message
     
    I read some pieces by DZH News saying that China is conducting economic reforms which are expected to cut risks in the country's banking system on a long-term basis.
    23 Jul 2013, 10:33 PM Reply Like
  • Swisser998
    , contributor
    Comments (133) | Send Message
     
    Go USA! We're #1!
    23 Jul 2013, 10:46 PM Reply Like
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