Largest Banks in the World

Largest Banks in the World

Banks are a financial intermediary that accept deposits and channel those deposits into lending activities, either directly or through capital markets. They connect customers with capital deficits to customers with capital surpluses. Banks are a pivotal part of the economy and throughout history have played an important part in the global economy’s collapse or success. Some banks have carved a niche for themselves and have emerged as global players due to their market capitalization, total assets, professional workforce, customer services and overseas expansions.

Banking is generally a highly regulated industry, and government restrictions on financial activities by banks have varied over time and location. The current set of global bank capital standards is called Basel II. In some countries such as Germany, banks have historically owned major stakes in industrial corporations while in other countries such as the United States, banks are prohibited from owning non-financial companies. In Japan, banks are usually the nexus of a cross-share holding entity known as the keiretsu. In Iceland, banks had very light regulation prior to the 2008 collapse. Banks not only help in the growth of the country economy but also give stability to capital market.

The world’s top ten banks come from the United States and China. Of the top ten world’s largest banks, four are Chinese and four belong to the United States. The United Kingdom and Australia account for one bank each. Following is the list of World’s Largest Banks ranked according to total Assets and market capitalization:

List of World’s Largest Banks

Rank Bank Headquaters Market Capital, US$b (March 2016)
1 Wells Fargo & Co San Francisco, California, U.S. 254.19B
2 Industrial & Commercial Bank of China (ICBC) Beijing, China 226.55B
3 JP Morgan Chase & Co 270 Park Avenue, New York, U.S. 217.79B
4 China Construction Bank Beijing, China 155.97B
5 Agricultural Bank of China Beijing, China 155.04B
6 Bank of China Beijing, China 144.16B
7 Bank of America North Carolina, U.S. 142.39B
8 HSBC Holdings London, United Kingdom 128.91B
9 Citigroup Inc New York City, NY, U.S 126.74B
10 Commonwealth Bank of Australia Sydney, Australia 99.69B
11 Westpac Banking Corporation Sydney, Australia 83.53B
12 Royal Bank of Canada Montreal, Canada 83.36B
13 Toronto­Dominion Bank Toronto, Canada 77.11B
14 Lloyds Banking Group 25 Gresham Street, London, United Kingdom 73.777
15 Banco Santander Santander, Spain 71.16B
16 US Bancorp Minneapolis, Minnesota, United States 70.24B
17 Mitsubishi UFJ Financial Group (MUFG) Chiyoda, Tokyo, Japan 69.43B
18 Goldman Sachs Group Manhattan, New York City, New York, U.S. 67.91B
19 UBS Group AG Basel, Switzerland 65.33B
20 BNP Paribas Boulevard des Italiens, Paris, France 62.60B
21 China Merchants Bank Shenzhen, China 59.17B
22 Bank of Nova Scotia (Scotiabank) Toronto, Ontario, Canada 56.62B
23 Australia & New Zealand Banking (ANZ) 833 Collins Street, Docklands, Melbourne, Australia 56.48B
24 National Australia Bank Melbourne, Australia 56.27B
25 Bank of Communications Shanghai, China 55.08B
26 Intesa Sanpaolo Torre Intesa Sanpaolo, Turin, Italy 51.40B
27 Itau Unibanco Holding São Paulo, Brazil 51.007
28 Morgan Stanley New York City, New York, U.S 50.92B
29 Shanghai Pudong Development Bank Shanghai, China 48.71B
30 HDFC Bank Limited Mumbai, Maharashtra, India 48.45B
31 China Minsheng Banking Corp (CMBC) Beijing, China 47.67B
32 BBVA Bilbao, Spain 46.60B
33 Sumitomo Mitsui Financial Chiyoda, Tokyo, Japan 45.53B
34 Industrial Bank Co Fuzhou, China 44.48B
35 Nordea Bank Stockholm, Sweden 44.19B
36 PNC Financial Services Pittsburgh, Pennsylvania, U.S 43.30B
37 Banco Bradesco Osasco, São Paulo, Brazil 40.87B
38 Bank of New York Mellon New York City, New York, U.S 40.62B
39 Barclays Plc One Churchill Place, Canary Wharf, London, England, United Kingdom 40.60B
40 Mizuho Financial Group Chiyoda, Tokyo, Japan 39.95B
41 China Citic Bank Hong Kong, China 39.41B
42 Royal Bank of Scotland Group Edinburgh, Scotland, United Kingdom 38.94B
43 Bank of Montreal (BMO) Toronto, Canada 38.05B
44 Capital One Financial Tysons Corner, Virginia, U.S. 37.46B
45 Charles Schwab San Francisco, California, U.S. 37.24B
46 Sberbank of Russia Moscow, Russia 36.43B
47 Societe Generale Paris, France 33.02B
48 Hang Seng Bank 83 Des Voeux Road, Central, Hong Kong 32.49B
49 Credit Agricole SA Montrouge, France 31.36B
50 Credit Suisse Group Paradeplatz 8 Zürich, Switzerland 31.18B



Top 10 Banks in the World in 2015

Rank Bank Country Total Assets, US$b
1 Industrial & Commercial Bank of China China 3427
2 China Construction Bank Corp China 2831
3 Agricultural Bank of China China 2745
4 Bank of China China 2595
5 Mitsubishi UFJ Financial Group Japan 2456
6 HSBC Holdings UK 2410
7 JPMorgan Chase & Co US 2352
8 BNP Paribas France 2180
9 Bank of America US 2144
10 China Development Bank China 1898


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Last Updated on : 21st September 2016