A Long Journey — Bank Internationalization Report was jointly released by ZIBS together with the AIF of ZJU, Institute of Finance of ZJU, International Monetary Institute (IMI) and Wind Information Co., Ltd. This report is the opening chapter of the book series of ZIBS.
Under the complex global economic situation, trade frictions, geopolitics and other risks are increasing, and political uncertainty has been further increased. On the one hand, since the 21st century, such key words as globalization and global collaboration have been mentioned more than a hundred times in various initiatives of the United Nations, indicating that economic globalization is unstoppable. On the other hand, the world is undergoing changes of a scale unseen in a century as events with counter-globalization risks, including Brexit and the trade friction between China and the U.S., occurred from time to time. Banks, as important players in the global financial market, will inevitably go through ups and downs in the changes.
As a line in the Chinese classics reads, A man of vision sees the trend of the times and follows it. Facing globalization's clash with counter-globalization, different banks should make their own choices between going local and going global. Only by taking targeted measures while following the trend can they stand out. Just as a blacksmith in the past would spend years forging the perfect sword, banks could not achieve internationalization overnight but need to overcome difficulties and obstacles. However, only when they step onto the world stage will they have the opportunity to identify their deficiencies and narrow the gap. Besides, only by occupying the international market can they have the possibility to become farsighted and lead the changes.
The BII, with the focus on global banks, scientifically fits overseas data to the index, visually reflecting the relative superiority or inferiority. Though internationalization cannot be used directly to judge how well a bank is run, it reflects the bank's ability to go global and face international competition to some extent. Not all banks need to go global, but large banks of a country should have the courage and determination to climb up to the summit, with one sweeping view see how small all other mountains are.
Features of the 2019 Bank Internationalization Index
Continuous efforts in the past five years
The BII has been released for five times since 2015. Over the past five years, the Index has remained true to its original intention of reflecting the internationalization level of global banks with objective and realistic data. It aims at helping banks become clear about their open position in the international financial market, identify the gaps and deficiencies in their international development, and thus explore better strategies and paths for internationalization.
The focus on the core in three dimensions
Supported by its accumulated overseas assets, overseas operation results and global institution layout, the BII forms the internationalization index. It comprehensively evaluates the internationalization level of banks from such aspects as the depth, breadth and effectiveness, striving for scientific and objective results. The full report provides an in-depth analysis of banks' overseas business changes, operating cost control and international talent training, and shows a comprehensive picture of the banks' international performance.
Continuous expansion with a global orientation
Since the release of its first report, the BII has adhered to a global orientation in continuously increasing the number of banks in wider areas. In 2019, the BII involved 131 banks, with the total assets reaching 76 trillion U.S. dollars, accounting for 89% of global GDP. Among them, the BII selected 68 banks from 32 countries for ranking and analysis. Their assets totaled 67 trillion U.S. dollars, accounting for 78% of global GDP.
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