Foreign news: China trumps the West in global bank rankings, Moody's rates Indian banks, China Bank

Three of the top five banks in the world are now Chinese, according to a list of 1000 institutions by capital strength published by The Banker. CNBC reports The Industrial and Commercial Bank of China and China Construction Bank hold the two top spots, with tier one capital of US$249 billion and US$202 billion respectively. The Bank of China is in fourth place with tier one capital of US$184 billion. The Banker reports Chinese banks also made 1.75 times more profit than US banks and almost ten times more profit than UK banks.
Moody's Investors Service has affirmed the deposit ratings of five Indian banks: Axis Bank, ICICI Bank, Bank of Baroda, Bank of India and Canara Bank. Hindustan Times reports that Moody's also affirmed the baseline credit assessment for ICICI Bank, Axis Bank and Bank of Baroda at baa3, baa3 and ba2, respectively. But the ratings agency downgraded Bank of India and Canara Bank to ba3 from ba2.
China Banking Corporation has returned to the international debt capital market for the first time since 1997, securing a US$158 million three-year term loan facility from regional and international banks. CBN News reports that proceeds of the loan will be used for general corporate purposes and to support the growth of China Bank's dollar assets. The facility carries an interest margin of 1.40 per cent per annum over three-months Libor.