List of largest banks

Summary

The following are lists of the largest banks in the world, as measured by market capitalization and total assets.

By market capitalization edit

The list is based on Forbes ranking as of January 2024 based on an analysis of the bank's operations, financial performance, and overall impact on the global economy.

Many of the largest banks in the world are part of larger bank holding companies. This structure allows them to offer various financial services, making them more resilient and competitive in the global market.[1]

 
JPMorgan Chase, the largest bank in the world by market capitalization

Here's a table showcasing the ten largest banks in the world, ranked by their market caps (as of January 2, 2024).

Rank Bank name Market cap
(US$ billion)
1   JPMorgan Chase 491.76
2   Bank of America 266.45
3   Industrial and Commercial Bank of China 219.45
4   Wells Fargo 178.74
5   Agricultural Bank of China 175.69
6   HDFC Bank 169.84
7   HSBC Holdings PLC 156.13
8   Morgan Stanley 153.05
9   China Construction Bank 151.97
10   Bank of China 150.39

By total assets edit

 
Industrial and Commercial Bank of China, the largest bank in the world by total assets

This list is based on the April 2023 S&P Global Market Intelligence report of the 100 largest banks in the world. The ranking was based upon assets as reported and was not adjusted for different accounting treatments.[2] Another publication which compiles an annual list of the world's largest banks is The Banker magazine. It publishes a list of the World 1000 Largest Banks every July.[3] The financial data published by the July yearly issue of The Banker are much more extensive compared to the S&P Top 100 banks, but it is not a publication intended for the general public. Some banks were added due to their annual reports.

Accounting treatment affects the assets reported: for example, the United States uses US GAAP (as opposed to IFRS), which only reports the net derivative position in most cases, leading to US banks having fewer derivative assets than comparable non-US banks.[4] If Goldman Sachs reported under the IFRS, it would be ranked 17th on the list as of 2023, rather than 26th.[2]

Rank Bank name Total assets
(2022)
(US$ billion)
1   Industrial and Commercial Bank of China Limited 5,742.86
2   China Construction Bank 5,016.81
3   Agricultural Bank of China 4,919.03
4   Bank of China 4,192.12
5   JPMorgan Chase 3,736.62
6   Bank of America 3,100.02
7   Mitsubishi UFJ Financial Group 2,967.91
8   HSBC 2,864.59
9   BNP Paribas 2,849.61
11   Crédit Agricole 2,542.61
10   Citigroup Inc. 2,786.36
12   Postal Savings Bank of China 2,039.56
13   SMBC Group 2,006.75
15   Mizuho Financial Group 1,909.35
16   Bank of Communications 1,883.72
14   Wells Fargo 1,937.18
18   Banco Santander 1,853.86
19   Barclays 1,823.84
20   Japan Post Bank 1,719.92
21   UBS 1,679.36
22   Groupe BPCE 1,636.35
23   Société Générale 1,588.99
24   Royal Bank of Canada 1,544.17
25   Toronto-Dominion Bank 1,524.83
27   Deutsche Bank 1,480.22
28   China Merchants Bank 1,470.00
17   Goldman Sachs 1,859.46
29   Industrial Bank (China) 1,343.54
30   China CITIC Bank 1,239.28
31   Shanghai Pudong Development Bank 1,184.28
26   Morgan Stanley 1,492.72
32   Crédit Mutuel 1,180.22
33   Lloyds Banking Group 1,057.69
34   China Minsheng Bank 1,051.97
35   Intesa Sanpaolo 1,042.73
36   ING Group 1,034.32
37   Scotiabank 1,029.80
38   UniCredit 916.72
39   China Everbright Bank 913.49
40   NatWest Group 867.59
41   Bank of Montreal 859.05
42   Commonwealth Bank 837.21
43   Standard Chartered 819.92
44   La Banque postale 796.88
45   Ping An Bank 771.55
46   Banco Bilbao Vizcaya Argentaria 762.15
47   Norinchukin Bank 753.26
48   State Bank of India 694.94
49   Canadian Imperial Bank of Commerce 691.31
51   National Australia Bank 679.76
50   U.S.Bancorp 680.23
52   Rabobank 671.70
53   DZ Bank 670.13
54   Australia and New Zealand Banking Group 669.66
55   Westpac 653.39
56   Nordea 635.72
57   KfW 604.95
58   CaixaBank 604.03
59   Sberbank of Russia 566.07
61   KB Financial Group Inc 557.54
60   PNC Financial Services 559.50
62   Resona Holdings 557.10
63   Truist Financial Corp 557.02
64   DBS 554.40
65   Danske Bank 540.66
66   Huaxia Bank 540.04
67   Shinhan Bank 537.44
68   China Guangfa Bank 528.91
69   Sumitomo Mitsui Trust Holdings 516.83
70   Commerzbank 510.25
71   Capital One 456.38
72   Hana Financial Group 452.34
73   Bank of Beijing 447.54
74   Itaú Unibanco 439.50
75   OCBC 417.61
76   Nonghyup Bank 417.37
78   Bank of Jiangsu 410.83
77   The Bank of New York Mellon 413.99
79   ABN AMRO 405.67
80   DekaBank 405.26
81   Bank of Shanghai 405.13
82   Woori Bank 382.05
83   KBC Bank 380.33
84   China Zheshang Bank 380.14
85   Banco do Brasil 379.78
86   United Overseas Bank 376.07
87   Nomura Holdings 373.59
88   HypoVereinsbank 346.62
89   Landesbank Baden-Württemberg 346.45
90   Erste Group 346.12
91   Industrial Bank of Korea 343.49
92   Bank of Ningbo 343.05
93   Banco Bradesco 340.41
94   SEB Group 338.91
95   VTB Bank 335.11
96   Handelsbanken 331.32
97   DNB ASA 328.50
98   Qatar National Bank 323.56
99   Macquarie Group 313.47
100   National Bank of Canada 312.67

Banks by country or territory edit

Number of banks in the top 100 by total assets [2]
Rank Country Number
1   China 20
2   United States 11
3   Japan 8
4   Germany 7
5   France 6
  Canada 6
  South Korea 6
8   Australia 5
  United Kingdom 5
10   Spain 3
  Netherlands 3
  Singapore 3
  Brazil 3
14
  Italy 2
  Russia 2
  Sweden 2
18    Switzerland 1
  India 1
  Finland 1
  Denmark 1
  Belgium 1
  Austria 1
  Norway 1
  Qatar 1

* Includes all beneath counted banks of member states of the European Union

See also edit

References edit

  1. ^ "The 10 largest banks in the world by market capitalization as of January 2024".
  2. ^ a b c Khan, Zia; Terris, Harry; Meggeson, Ben (26 April 2023). "The world's 100 largest banks, 2023". spglobal.com. S&P Global Market Intelligence. Retrieved 16 June 2023.
  3. ^ Banker, The. "Top 1000". www.thebanker.com. Retrieved 26 August 2023.
  4. ^ "World's 100 Biggest Banks: China's ICBC #1". Forbes. 12 February 2014.