The following are lists of the largest banks in the world, as measured by total assets and market capitalization.
This list is based on the April 2024 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. [1] 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. [2] 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.
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. [3] When adjusted for this netting, JPMorgan Chase would have US$ 4,359.78 billion in total assets, rather than US$3,875.39 billion. [1]
Rank | Country | Number |
---|---|---|
1 | China | 20 |
2 | United States | 12 |
3 | Japan | 8 |
4 | France | 6 |
South Korea | 6 | |
United Kingdom | 6 | |
7 | Canada | 5 |
8 | Australia | 4 |
Brazil | 4 | |
Germany | 4 | |
11 | Netherlands | 3 |
Singapore | 3 | |
Spain | 3 | |
14 | India | 2 |
Italy | 2 | |
Russia | 2 | |
Sweden | 2 | |
Switzerland | 2 | |
19 | Austria | 1 |
Belgium | 1 | |
Denmark | 1 | |
Finland | 1 | |
Norway | 1 | |
Qatar | 1 |
Many of the largest banks in the world are part of larger bank holding companies. This structure allows them to offer various financial services, making them more resilient and competitive in the global market. GlobalData and Forbes India maintain their own lists of the top ten largest banks in the world ranked by their market capitalization. [4] [5]
Bank name | GlobalData | Forbes India | ||
---|---|---|---|---|
Rank | Market cap (US$ billion) | Rank | Market cap (US$ billion) | |
JPMorgan Chase | 1 | 599.931 | 1 | 583.91 |
Bank of America | 2 | 307.900 | 2 | 304.56 |
Industrial and Commercial Bank of China | 3 | 303.543 | 3 | 288.06 |
Agricultural Bank of China | 4 | 232.836 | 4 | 231.00 |
Bank of China | 5 | 209.295 | 6 | 187.79 |
China Construction Bank | 6 | 192.715 | 5 | 197.15 |
Wells Fargo | 7 | 192.279 | 7 | 187.13 |
HSBC | 8 | 163.544 | 10 | 159.35 |
Commonwealth Bank | 9 | 156.639 | ||
Goldman Sachs | 10 | 156.356 | ||
Royal Bank of Canada | 8 | 173.86 | ||
Morgan Stanley | 9 | 169.17 |
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