Big American banks are doing quite well in 2019
It has been a particularly good year for American banks. Despite historically low interest rates, which theoretically eat into their profits, the sector has enjoyed significant share appreciation.
By the numbers: 75 of the world’s largest 100 banks by market cap have seen an increase in their stock price in 2019, according to a new report from GlobalData.
Between the lines: When it comes to assets held, American banks have ceded global leadership to China, which is home to the four largest banks by assets — Industrial & Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China.