Review of the best according to the editorial board. On the selection criteria. This material is subjective, does not constitute advertising and does not serve as a purchase guide. Before buying, you need to consult with a specialist.
The banking organizations represented in the rating are one of the most influential in the financial world, holding leading positions in the banking market. The companies were selected based on one of the key factors – total assets. This concept means the value of the monetary objects owned by the company and its monetary capital. Next – the top 10 giants in the banking world.
Financial monsters: top 10 largest banks on the planet by assets
|10 largest banks on the planet by assets||10||Crédit Agricole||$ 2123 billion||France|
|9||BNP Paribas||$ 2336 billion||France|
|8||BOA||$ 2354 billion||USA|
|7||HSBC||$ 2558 billion||Great Britain|
|6||JPMorgan Chase||$ 2765 billion||USA|
|5||MUFG||$ 3,069 billion||Japan|
|4||Bank Of China||$ 3,092 billion||China|
|3||ABoC||$ 3,287 billion||China|
|2||CCB||$ 3377 billion||China|
|1||ICBC||$ 4027 billion||China|
Assets: $ 2,123 billion
Our top 10 is opened by a French conglomerate – a member of the 'big four' of the national banking sector. As of 2018, Crédit Agricole ranks 10th in terms of its own assets exceeding $ 2,100 billion. Since 2011, the organization has been included in the list of systemically important banks.
The French bank began its activities in the distant 19th century and experienced many difficulties along the way. During World War II, the company was under strict government control. This cooperation proved to be quite successful: it avoided the decline of agriculture. Since 1975, the bank has successfully entered the international market, opening the first overseas branches.
In 2001, the company was transformed into a joint stock company and, after a short time, listed its shares on the Paris stock exchange. Subsequently, the financial institution began to expand its sphere of influence and opportunities through numerous acquisitions, mergers and reorganizations. In 2012, the company showed a record large loss – 6.5 billion euros, which was due to financial problems in Italy, Greece, Portugal.
Assets: $ 2336 billion
The French conglomerate is considered the leader in the financial and banking sectors in Europe. One of the representatives of the Big Four of the country's banking sector. As of 2018, the financial institution ranks 9th in terms of its assets. According to the financial magazine Global Finance, the bank is among the 50 most reliable in the world. The banking organization is included in the list of systemically important for the planet.
The organization is quite young (founded in 2000): it started its activities after the merger of BNP and Paribas Bank. BNP Paribas was the bank that provided funds for the Oil-for-Food Initiative, a UN initiative that allowed Iran to sell oil on the world stage in exchange for medicine, food, etc.
The Bank operates in 2 areas – retail banking in the national and international arena, as well as corporate banking. In 2014, the company paid almost $ 9 billion for violating US sanctions against Cuba, Iran, and others – a huge sum and the largest penalty for such violations.
Assets: $ 2,354 billion
Bank of America is the largest conglomerate of the United States in the banking sector, providing a wide range of services not only in the country, but also far beyond its borders. One of the representatives of the Big Four American banks along with Citigroup, Wells Fargo and JPMorgan Chase. In the United States, it is considered the most powerful financial holding company in terms of assets.
BOA was created in 1998 and is the result of the merger of two American banks – BankAmerica and NationsBank. 10 years after its start, Bank of America acquired a large investment bank, Merrill Lynch. Since 2011, the organization has been included in the list of systemically important banks. Although the BOA has a well-developed network of international branches, the key region of the bank's activity is, nevertheless, the United States. The main activities of BOA: consumer banking, as well as the global market, banking, asset management.
Assets: $ 2,558 billion
The British financial holding is considered one of the most significant in Europe and one of the most powerful on the planet. The organization has impressive assets – about $ 2,550 billion, its market capitalization reaches $ 117.5 billion. Initially, the organization was created with the aim of quickly and conveniently conducting mutual settlements between Europe and China, but today the bank's activities are much wider.
Undoubtedly, European-Asian settlements remain the key area of the company's activity today, but dozens of open subsidiaries perform a whole range of other operations: retail banking, commercial banking, global financial flows management, global private banking and a corporate center. HSBC branches are represented not only in Europe (France, Malta, Russia, Switzerland, etc.), but also in the United States, Africa and the Middle East.
Assets: $ 2,765 billion
One of the most powerful and rapidly developing American financial conglomerates – the giant of the country's banking sector and an active participant in the global arena. The company, established in 2000, is the result of the merger of several large national banks. One of the Big Four American banks.
JPMorgan Chase is one of the largest and most influential investment banks on the planet, with over $ 23 trillion in depository assets. dollars. The main geographic area of activity is the United States, Canada, India and the United Kingdom. According to the Forbes 2000 rating, the banking organization takes the honorable 3rd place among the largest public companies on the planet. Since 2011, JPMorgan Chase has been listed as systemically important.
The organization's current assets exceed $ 2,700 billion, and its capitalization reaches $ 421.5 billion. Thus, a financial institution is automatically ranked among the most expensive on the planet. The organization's activities can be divided into 4 key areas: consumer and public banking, commercial banking, corporate as well as the investment sector and the management of client assets through a network of subsidiaries. Half of all bank revenue is net interest income.
Assets: $ 3,069 billion
Mitsubishi UFJ Financial Group is the largest Japanese holding with assets exceeding the $ 3,000 billion mark. It is the most powerful company in the Japanese financial sector. Its market capitalization reaches $ 65 billion. The organization appeared relatively recently – in 2005 as a result of the merger of the country's most important banks – MTFG (the 4th largest conglomerate at that time) and UFJ Holdings (the 2nd bank in the country at that time).
The main predecessor of MUFG is Mitsubishi Exchange Office – a currency exchange office created almost 150 years ago, which successfully existed for over a century. The organization was not broken by the powerful collapse of the country's financial market that occurred in the 90s. The then Mitsubishi Bank managed to avoid collapse thanks to its conservative policies. In 2008, MUFG formed a strategic alliance with one of the most important financial conglomerates in the United States – Morgan Stanley.
The main activities of the organization: retail banking services, client asset management, promotion of the interests of the Mitsubishi Group in the world, participation in the global financial market.
Bank Of China
Assets: $ 3,092 billion
One of the oldest (founded back in 1912) and reliable banks in the Middle Kingdom. He is also a representative of the Big Four of China's financial institutions, which have a huge impact on the territory of the Middle Kingdom and provide banking services not only to the citizens of the country, but also to its non-residents.
Bank of China is the undisputed leader of the country's banking sector. More than 70% of the organization's assets belong to the government of the Celestial Empire. The financial company is represented in several dozen countries, and since 2011 it has been included in the list of systemically important banks and for good reason: the collapse of a banking organization, whose market capitalization reaches $ 143 billion, could significantly hit the global financial system.
After the 1949 revolution, the Bank of China focused on foreign economic activity (in particular, it carried out commercial banking) and still adheres to this course, rapidly developing a foreign network.
In 1993, the Russian branch of the bank JSCB BANK OF CHINA (ELOS) was opened in Moscow. It became the first in a series of subsidiary banking organizations opened by a foreign company in Russia.
Assets: $ 3,287 billion
The financial organization was created back in 1951 by the famous Chinese state and party leader of the 20th century, Mao Zedong, with the aim of helping peasants and ordinary Chinese workers. At the time, it was known as the Cooperative Agricultural Bank. In 1993, the organization was transformed into a state commercial bank.
Today ABoC is one of the key players in the financial market, which holds a confident position as an important commercial organization of global importance. The bank has more than 24,000 branches throughout the country and far beyond its borders. In 2007, the decision of the national conference on the ABoC was entrusted with the serious task of financing the 'sannong problem' with the aim of developing the underdeveloped agricultural areas of the country.
The banking organization includes 14 subsidiaries, 6 of which operate outside China (including in Russia). Over a ten-year period (from 2005 to 2015), banking assets tripled, revenue doubled, and the organization's equity capital increased significantly (from 542 billion yuan in 2010 to 1,670 billion yuan in 2018).
Assets: $ 3,377 billion
The second largest member of our rating, and undoubtedly the most influential bank on the planet, created more than half a century ago – in 1954. Initially, the financial organization was created strictly for mutual settlements for the state, but over time it was redesigned for commercial operations. The bank has more than 345,000 employees, 14 branches successfully operate in the world.
The bank's market capitalization is about $ 225 billion. The financial institution is considered one of the largest in the country, and in the Forbes 2000 rating it is ranked 3rd in terms of assets. Since 2015 – one of the globally significant banks in the world. In 2005, the bank first listed its shares on the Hong Kong Stock Exchange and earned $ 9.24 billion.
The bank has several subsidiaries, some of which serve trade operations between China and the UK, some provide retail financial services, and some were created for asset management.
Assets: $ 4,027 billion
The Industrial and Commercial Bank of China is a real financial giant and by far the largest bank on the planet. ICBC is another member of the Big Four, controlling over 20% of the state's banking sector. The financial institution started its activities in 1984. Today, from a modest company, it has turned into a real monster: the organization employs about 500,000 employees worldwide, dozens of branches in many countries. The market capitalization of ICBC, according to experts, exceeds $ 305 billion.
In 2006, ICBC made its first public sale of its shares, having managed to raise a record $ 22 billion during trading (a record number – the largest in history). For a full 6 years, starting in 2011, the bank was in the first line of the rating of the largest public companies with an average revenue of more than 165 billion dollars.
The company is majority owned by the Chinese government. Although ICBC has about 500,000 shareholders, the largest of them are considered to be only 3 (they own more than 90% of the shares) are the investment company of China, the Ministry of Finance of the PRC and one of the largest holdings in Hong Kong. Since 2013 ICBC has been one of the most important banks in the world.
Attention! This rating is subjective and does not constitute an advertisement and does not serve as a purchase guide. Before buying, you need to consult with a specialist.