Here's proof that Japanese bank stocks outpaced global peers in 2013

Thanks to Abe's reflationary policies.

According to a report by SNL Financial, Japanese and U.S. banks provided stock returns sharply higher than their peers in Asia and Europe in 2013. Japan's three megabanks posted average total returns of 60.82% last year, helped by Prime Minister Shinzo Abe's reflationary policies. Abe's policies also helped push the Nikkei 225 Index up by 56.7% in 2013.

On the other side of the Pacific, U.S. bank stocks were boosted by improved earnings. The aggregate net income of publicly traded U.S. banks and thrifts increased by 16.40% and 34.10% during the nine months ended Sept. 30, 2013, compared to the same periods in 2012 and 2011, respectively.

Among the top five banks by market capitalization in each region, Allied Irish Banks Plc recorded the highest total return at 124.00%.