TOP 10 Biggest Banks in World
#1- Industrial and Commercial Bank of China
Established in 1984, the Industrial and Commercial Bank of China has quickly grown to become the largest bank in the world based on assets. Its current asset tally is a whopping 3.47 trillion. ICBC focuses most of its efforts on industry (the name gives it away). They offer the majority of their loans in manufacturing, transportation, power, and retail. This bank shows no signs of slowing down either. It reported a 3.3% rise in profit for the 3rd quarter of 2017.
- Headquartered in Beijing, China
- Employs 460,000
#2 - China Construction Bank Corporation
The second-largest bank in China also happens to be the second-largest in the world. The China Construction Bank Corporation currently holds $3.02 trillion in assets. One of the older banks in China, CCB, was founded in 1954. In 2005, Bank of America wanted to expand its business into China. So it purchased a 9% stake in CCB. That didn’t work out so well, however. And BOA needed to sell most of its stake in 2009 during the US financial crisis. In 2013, Bank of America sold its remaining position in CCB and had focused its Asian operations in Hong Kong.
- Headquartered in Beijing, China
- Employs 330,000
#3-Agricultural Bank of China
If you’re sensing a trend here, you’re not alone. Yet another Chinese bank, the Agricultural Bank of China, ranks third largest globally with $2.82 trillion in assets. Known as Ag Bank and founded in 1951, the Agricultural Bank of China has branch locations in Seoul, Singapore, Sydney, London, New York, and many others of the world’s largest cities. Fun fact: In 2007, Ag Bank was the victim of the largest Chinese bank robbery ever. Thieves stole $7.5 million.
- Headquartered in Beijing, China
- Employs 444,000
#4 - Mitsubishi UFJ Financial Group (Mitsubishi)
With $2.63 trillion in assets, Mitsubishi is Japan’s largest bank holding/financial services group. Part of the Mitsubishi Corporation, the company, provides various financial and investment services, including commercial banking, trust banking, international finance, and assets management services. With all of the accolades MUFG has garnered, it’s surprising to learn they were only founded in 2005.
- Headquartered in Tokyo, Japan
- Employs 106,000
#5 - Bank of China
Yet another Asian bank rounds out the top five. Bank of China-controlled $2.61 trillion in assets and was founded in 1912. While this bank is no longer 100% government-owned, the largest shareholder of the Bank of China is still the investment arm of the People’s Republic of China. The Bank of China is the second-largest lender in the country. It currently has two locations in the state of New York.
- Headquartered in Beijing China
- Employs 310,000
#6 - J.P. Morgan Chase
One of the two so-called “too big to fail” banks, along with Bank of America, J.P. Morgan Chase is the sixth-largest bank in the world with $2.50 trillion in assets. The company provides products and services to its clients in 100 countries; It offers asset management, investment banking, private banking, treasury and securities services, and commercial banking. J.P. Morgan Chase is traded on the NYSE under the ticker symbol JPM. Of all the banks on our list, Chase is the second newest, founded in 2000.
Headquartered in New York City, New York
Employs 245,000
#7 - HSBC Holdings PLC
HSBC Bank has more than 460 bank branches throughout the United States, with the majority (380) in New York State. This one comes in at number seven on our list of the biggest banks with $2.37 trillion in assets. HSBC offers its 4 million customers access to global markets through its personal financial services, Private Bank, retail banking, commercial banking, and global banking and market segments. HSBC was initially founded in British Hong Kong in 1865.
Headquartered in London, UK
Employs 235,000
#8 - BNP Paribas
BNP Paribas was founded all the way back in 1848. This French bank comes in at number eight with $2.19 trillion in assets. BNP is one of the largest global banking networks in the world, with operations in 75 countries. BNP has four domestic retail banking markets located in France, Italy, Belgium, and Luxembourg. In April 2009, due to BNP’s 75% purchase of Fortis Bank, the Belgian bank is now the largest Eurozone deposit holder. Its core profitability comes from retail banking. More than three-quarters of its revenue comes from everyday client accounts.
Headquartered in Paris, France
Employs 190,000
#9 - Bank of America (BAC)
BAC is the largest bank holding company in the United States, by assets, with $2.19 trillion. The company serves clients worldwide and has a relationship with 99% of the U.S. Fortune 500 companies. In 2008, BAC acquired Merrill Lynch, making it the world’s largest wealth manager. It is listed on the New York Stock Exchange (NYSE) and is part of the S&P 500 Index and the Dow Jones Industrial Average.
Headquartered in Charlotte, North Carolina
Employs 208,000
#10 - Wells Fargo
Sneaking into the top 10, Wells Fargo has labored through the last few years with a few scandals they’d like to forget. Still, the bank currently holds $1.93 trillion in assets and is one of the United States’ largest retail banks. Founded all the way back in 1852, Wells Fargo has close to 9,000 retail locations scattered across the United States. They became my bank of record when in 2009 when they purchased Wachovia. All of a sudden, my login was changed, and I remember seeing a lot of wagons!
Headquartered in San Francisco, California
Employs 270,000
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