The biggest banks in the world in accordance of their assets Top-10
Let’s take a look on the list of the biggest banks in the world, based on the volume of their assets. American banks have headed this list for years, but it has changed when China became an important global economic center. Consequently, here we can find 4 China’s Banks, also from USA, France, UK and Japan.
1. Industrial & Commercial Bank of China, or ICBC
It’s the biggest bank on the planet with total assets of $ 4.009 trillion. This governmental bank founded in 1984, and at the end of October 2006 made an IPO, collecting record $ 22 milliard 48,4 milliard shares (18% of the total number). Today ICBC has about half a million employees across China and branches in Canada, Macau and Turkey.
2. China Construction Bank Corp
The main office is situated in Beijing, and it counts about $ 3.4 trillion of assets. It offers banking services for individuals and corporations, investment and asset management services. It does also take care of securities, money markets and currencies in debt.
3. Agricultural Bank of China
The Agricultural Bank of China, also known as AgBank, manages $ 3.235 trillion assets. Established in 1951 after the merger of Cooperation Bank and the Farmers Bank, it has over 330 million customers and 25,000 branches throughout China.
4. Bank of China
Bank of China’s total assets are $ 2.991 trillion. Founded in 1912 and is the oldest of the Big Four banks. From 1912 to 1942, on behalf of the government, the bank issued banknotes. Today, Bank of China is represented in more than 27 countries around the world. In addition to retail and corporate banking, Bank of China provides insurance and asset management services.
All four of the world’s largest banks are Chinese banks known as the Big Four.
5. Mitsubishi UFJ Financial Group
The Japanese financial conglomerate manages assets in the amount of $ 2787 trillion. Established in 2005, it was founded after the merger of Bank of Tokyo-Mitsubishi and UFJ Bank. It is also the second largest public company in Japan.
This bank raised its position. From 2017, when it was the 8th biggest bank, it became 5th
6. JPMorgan Chase & Co
It is the largest bank in the United States in terms of total assets and market capitalization. The company manages assets of $ 2.533 trillion, and its market value is currently $ 390 billion. It was formed in 2000 after the merger of JPMorgan & Co and Chase Manhattan Bank. The credit institution offers banking services to private and corporate clients, asset management and private capital management services.
7. HSBC Holdings
HSBC, headquartered in London, is the largest bank in Europe with total assets of $ 2.521 trillion. It was founded in 1885 as the Hong Kong and Shanghai Banking Corporation in British Hong Kong. HSBC has offices in more than 80 countries. The company is engaged in consumer finance, provides private and corporate banking, investment services.
This bank loosed its position. From 2017, when it was the 5th biggest bank, it became 7th
8. BNP Paribas
The largest bank in France was established in 2000 after the merger of the National Bank of Paris (BNP) and Paribas. In his asset $ 2.357 trillion. BNP Paris has over 40 million customers in 75 countries.
This bank loosed its position. From 2017, when it was the 7th biggest bank, it became 8th
9.Bank of America
Finance guru Ramit Sethi has publicly criticized Bank of America, calling it “one of the worst banks on the planet.” However, it is one of the largest banks in the world with total assets of $ 2.281 trillion. With a market value of $ 325 billion, it is the third largest bank in the world by market capitalization. The company strengthened its investment banking business by acquiring Merrill Lynch in 2008.
The second largest bank in France with assets of $ 2.117 trillion. It has been recognized as one of the most sustainable companies in the world. Credit Agricole was founded in 1894 and initially provided banking and financial services to farmers. Now it is the world’s largest cooperative financial institution.