The rankings of the world’s largest (p.8) and strongest (p.84) banks confirm the enduring dominance of global institutions such as JPMorgan Chase, Bank of America and Industrial and Commercial Bank of China. Their multi-trillion dollar balance sheets, combined with diversified revenue streams, ensure resilience despite margin pressure. The strongest banks list also highlighted the continuing power of Canadian lenders and select Chinese banks, whose conservative regulation and profitability underpin stability. Yet scale is not the only story. The CIW rankings (p.130) show that regional champions are punching above their weight. Banks such as UOB, First Abu Dhabi Bank and Bank Mandiri have achieved efficiency and client growth through high digital adoption, in some cases above 90%. Their ability to deliver returns rivalling larger peers shows that technology and focus can offset limitations of scale. Resilience underpins confidence in transformation Balance sheet health remains critical in an uncertain macroeconomic environment. Return on assets across the global sample averaged 0.81%, with marked differences by region. Asia Pacific banks remain lending-dependent, while North American and European banks benefit from higher fee income. Weaknesses persist, particularly in markets flagged by the Bank Watch List, where non-performing loans are elevated. These contrasts underscore that only institutions with strong foundations can afford to take bold steps into new technologies. Tokenisation and stablecoins move mainstream That context explains why the push into tokenised assets and stablecoins has been led by banks with both scale and resilience. Standard Chartered (p.139, 144) has tokenised funds in collaboration with asset managers, while JP Morgan’s Kinexys platform (p.137) is already processing billions in tokenised payments daily for corporate clients. Ripple and Stripe are embedding stablecoins in cross-border settlement and commerce, while BNY (p.142) is constructing interoperability layers to bridge public blockchains with existing securities rails. The debate is no longer about whether digital assets matter, but how quickly and in what form they enter mainstream banking. Some, like Deutsche Bank (p.135, 152), foresee fragmented regional “club” markets, while others like Bank of America (p.147) remain deliberately cautious, emphasising resilience and predictability. What unites them is recognition that tokenisation and stablecoins are part of the next phase of financial infrastructure (p.158). Convergence defines leadership The link between the rankings and these strategic choices is clear. Scale provides the capacity to invest, strength provides the resilience to withstand shocks, and digital adoption provides the pathway to deliver efficiency and new services. Institutions that align these elements are best placed to lead as traditional and digital finance converge. Leadership in banking is no longer about one dimension. It is about the convergence of size, strength and technology, enabling banks to both safeguard stability and pioneer innovation. That convergence will define who sets the pace in the next decade of global finance. Read the full publication
