The world’s wealthiest banks hold tremendous influence, managing vast sums of money that outsize the economies of many nations. Their actions can impact everything from the rise and fall of interest rates to even the stability of international markets. Here is a list of the 15 wealthiest banks in the world, ranked by total assets.
Industrial and Commercial Bank of China (ICBC)
Topping the list is the Industrial and Commercial Bank of China (ICBC), with assets exceeding $6.3 trillion. Founded in 1984, it has rapidly grown to become a symbol of China’s economic might on the world stage. ICBC offers many financial services and has a significant domestic and international presence.
Agricultural Bank of China
Established in February 1979, The Agricultural Bank of China, with assets over $5.8 trillion, is the second-largest bank in the world. Originally established to support China’s rural economy, it has become a comprehensive financial services provider.
China Construction Bank
CCB, as its name suggests, was originally set up in 1954 to fund infrastructure projects in China. It has since diversified its operations, extending its reach across Asia, Europe, and the Americas. As part of its expansion plans, the bank has increased its presence in infrastructure financing.
Bank of China
Managing assets worth $4.57 trillion, the Bank of China is the fourth-largest bank globally. Established in 1912, it is the oldest bank in mainland China. This bank provides services ranging from corporate finance to international banking, with a solid overseas footprint.
JPMorgan Chase
With assets exceeding $3.87 trillion, it is the largest bank in the United States. Formed from the merger of several prominent American banks, it has a rich history dating back to 1799. Investor banking, consumer and small business financial services, commercial banking, and asset management are some of its areas of expertise.
Bank of America
With over $3.18 trillion in assets, this bank, which has its headquarters in Charlotte, North Carolina, is the second-largest bank in the US. It has grown through many mergers and acquisitions. The bank serves individual consumers, small and middle-market businesses, and large corporations.
HSBC
Headquartered in London, it is one of the world’s biggest banking and financial services organizations, with assets amounting to $2.92 trillion. With roots tracing back to Hong Kong and Shanghai in 1865, HSBC is particularly dominant in Asia and Europe.
BNP Paribas
BNP Paribas, with assets nearing $2.87 trillion, is France’s largest bank and a major player in European finance. Formed through the merger between Paribas and Banque Nationale de Paris (BNP) in 2000, the bank operates in multiple countries. In addition to retail banking, it focuses on corporate and institutional banking.
Mitsubishi UFJ Financial Group
As Japan’s largest financial institution, it controls assets worth $2.82 trillion. MUFG was created in October 2005 from the merger of several major Japanese banks. It is a key player in both domestic and international finance, providing services that include corporate and investment banking, asset management, and insurance.
Crédit Agricole
With assets reaching $2.73 trillion, Crédit Agricole is France’s second-largest bank and the largest Cooporative Financial Institution in the world. Originally founded to serve French farmers, “the Green Bank” has expanded to become a full-service international banking group.
Postal Savings Bank of China
The bank holds assets exceeding $2.2 trillion. Established in 2007, it is one of China’s largest banks, coming second in the number of branches only after the Agricultural Bank of China. Mostly in rural and remote areas, the bank leverages China’s extensive postal network to provide financial services.
Citigroup
Headquartered in New York, Citigroup holds $2.2 trillion in assets, making it one of the largest banks in the US and globally. Originally founded in 1812, Citigroup has a long history of innovation in banking and financial services. It is known for its global presence and strength in emerging markets,
SMBC Group
Another Japanese financial giant on this list is the bank headquartered in Marunouchi, Chiyoda, Tokyo, Japan, with an asset portfolio of about $2.03 trillion. Formed in 2001 through the merger of old Japanese banks, SMBC Group operates in over 35 countries.
Banco Santander
Spain makes an entry in the list with Banco Santander. The largest bank in Spain, it manages assets of nearly $2 trillion. Founded in 1857, it has grown through numerous acquisitions to become a major global bank. Santander has a strong presence in Europe, Continental Asia, and North and South America.
Bank of Communications – $1,982.89 Billion
Another Chinese financial behemoth rounds out the list of wealthiest banks with assets just shy of $2 trillion. One of China’s oldest banks, BankComm, was formed in 1908. Its long history and strong domestic presence of over 2800 branches have helped it grow into one of the largest financial institutions in the world.
