Top 10 Largest Banks in the World 2023

Top 10 Largest Banks in the World: A bank is the major source of capital for businessmen, traders, and companies. The wealth of any bank has a direct relation to the economy of the nation. Further, the banks of some of the most developed nations take place on this list.

Many factors contribute to the success of the bank. They include assets, total customers, and deposits, and so on. Many people do not know about the world’s largest banks in the world.

This article lists out the largest and wealthiest banks of the globe that have assets worth millions. They also have managed to remain at the top of the list with their better services.

10. Credit Agricole Group

This is the biggest cooperative financial institution in the globe. It established in the year 1894 in France. This bank has assets of $2.13 trillion as per the latest report. Further, this institution has many local banks, 39 regional banks, and the Credit Agricole S.A.

The headquarters of this bank is in Montrouge, France. It plays a vital role in the development of the banking system in France. Apart from that, this French bank has many ties with the farming industries.

9. Bank of America

Bank of America is one of the largest banks in the world with total assets of $2.19 trillion. It serves some of the most successful companies in the United States. The bank has its headquarters in Charlotte, North Carolina, U.S.

Further, this bank holds more than 10% of the total American deposits. It offers services such as wealth management, commercial banking, and others. The market capitalization of $313.5 billion makes Bank of America as one of the biggest companies in the globe.

8. BNP Paribas

BNP Paribas operates in 75 nations of the globe. It is one of the largest banks in the world with total assets of $2.19 trillion. This bank was established as BNP in the year 1848. It was formed as BNP Paribas in the year 2000 with the joint venture of Paribas and Banque Nationale de Paris.

Further, this bank has over 30 million customers. It has its headquarters in Paris, France. The major income of BNP Paribas is from client accounts.

7. HSBC Holdings PLC

The next bank on the list is HSBC Holdings PLC. It is one of the most powerful investment banks offering services such as wealth management, retail banking, finance, corporate banking, and others.

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This bank was formed as the Hong Kong and Shanghai Bank in the year 1865. HSBC Holdings PLC has more than 235,350 employees all over the world. Further, this bank has a listing on the London Stock Exchange and Hong Kong Stock Exchange.

6. JPMorgan Chase & Co

JPMorgan Chase & Co is one of the largest banks in the world with assets of $2.7 trillion. It offers products such as ADR, financial services, credit cards, index funds, and so on. This bank was established in the year 2000.

This bank offers services such as consumer and community banking, asset management, consumer banking, and so on. It has about 256,980 employees all over the globe. Furthermore, it has a revenue of $115.627 billion every year.

5. Mitsubishi UFJ Financial Group

This is one of the biggest financial groups in Japan. It has total assets of more than $2450 billion. Mitsubishi is one of the largest bank holding companies in the globe. It has its headquarters in Chiyoda, Tokyo, Japan.

This bank established in the year 2005 by a joint venture. It has deposits of $1.8 trillion as per the report of the year 2011. The services of Mitsubishi UFJ Financial Group include asset management, trust banking, commercial banking, and so on.

4. Bank of China

Bank of China is one of the most successful commercial banks in China. It formed in the year 1912 in Beijing, China. The bank is one of the major lenders in China. It holds total assets of $3.090 trillion.

This bank has 310,000 employees in more than 20 nations in the world. It offers services like credit cards, investment banking, insurance, and mortgages. Moreover, it operates in more than 20 nations and is one of the largest banks in the world.

3. Agricultural Bank of China

The next on the list is the Agricultural Bank of China. It is among the “Big Four” banks of the country. Formed in the year 1951, this bank has its headquarters in Beijing, China. Further, the bank has branches in some of the famous cities such as Hong Kong, Tokyo, New York, and so on.

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It has assets of about $3.285 trillion. Besides, the bank has about 320 million customers and 2.7 million corporate clients. Furthermore, it takes 8^th place in the list of top 1000 banks of the globe.

2. China Construction Bank Corporation

This is another bank that takes place in the list of “Big Four” banks. It has a revenue of $92.1 billion. The services of China Construction Bank Corporation include corporate banking, finance, insurance, private equity, and so on.

The bank has branches in New York City, Barcelona, Melbourne, Seoul, Sydney, and so on. It has 13,629 branches in China. Further, the headquarters of the bank is in Xicheng District, Beijing. The total assets of China Construction Bank Corporation amount to $3.375 trillion.

1. Industrial & Commercial Bank of China

Industrial & Commercial Bank of China is the largest bank of the world holding assets of $4.2 trillion. It is the largest of the “Big Four” bank of the globe. This bank established in the year 1984 in Beijing, China.

It is the first bank on the list of the top 1000 world banks in the world. It is also the biggest public company in the world. Furthermore, this bank has branches in Asia, Oceania, the USA, and Europe.

Conclusion

These are the largest banks in the world with assets of trillion dollars. They contribute a major share in the economic progress of the countries. Besides, these banks also help small businesses and companies to develop within a short time. Also, there are many companies that are not currently banks, but they provide services like “credit repair” and other stuff.