The three Japanesemegabanks lost their standing among the largest Asia-Pacific banks by market capitalizationafter the Bank of Japan's January to adopt negative rates took a toll on their shareprices.
All three banksfell in the rankings, with MizuhoFinancial Group Inc. dropping three notches to 19th, the biggest declineamong them, after losing 30.95% of its market cap in the three months through March31. The Bank of Japan in late January unexpectedly decided to charge a 0.1% feeon some deposits from commercial banks, raising concerns about the impact of themove on lenders' profitability.
China's four biggest banks by assets, on the other hand, sat tight at thetop of the rankings, although their share prices fell as well. led the pack with a market cap of US$227.94 billion as of March 31, 5.95% less thanDec. 31, 2015. Five Chinese banks climbed in the rankings.
All but one bank on the list saw their market values decline during the three-monthperiod. The wider SNL Asia-Pacific Bank index dropped 20%, with gauges for threemajor geographies — China, Japan, and Australia and New Zealand — all down.
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