List of largest banks

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

Contents

By total assets

Industrial and Commercial Bank of China, the world's largest bank by total assets ICBC ChanganAVe.jpg
Industrial and Commercial Bank of China, the world’s largest bank by total assets

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]

RankBank nameTotal assets
(2023)
(US$ billion)
1 Flag of the People's Republic of China.svg Industrial and Commercial Bank of China 6,303.44
2 Flag of the People's Republic of China.svg Agricultural Bank of China 5,623.12
3 Flag of the People's Republic of China.svg China Construction Bank 5,400.28
4 Flag of the People's Republic of China.svg Bank of China 4,578.28
5 Flag of the United States.svg JPMorgan Chase 3,875.39
6 Flag of the United States.svg Bank of America 3,180.15
7 Flag of the United Kingdom.svg HSBC 2,919.84
8 Flag of France.svg BNP Paribas 2,867.44
9 Flag of Japan.svg Mitsubishi UFJ Financial Group 2,816.77
10 Flag of France.svg Crédit Agricole 2,736.95
11 Flag of the People's Republic of China.svg Postal Savings Bank of China 2,217.86
12 Flag of the United States.svg Citigroup 2,200.83
13 Flag of Japan.svg SMBC Group 2,027.34
14 Flag of Spain.svg Banco Santander 1,986.36
15 Flag of the People's Republic of China.svg Bank of Communications 1,982.89
16 Flag of the United States.svg Wells Fargo 1,932.47
17 Flag of Japan.svg Mizuho Financial Group 1,923.56
18 Flag of the United Kingdom.svg Barclays 1,891.72
19 Flag of France.svg Société Générale 1,717.49
20 Flag of Switzerland (Pantone).svg UBS 1,717.25
21 Flag of France.svg Groupe BPCE 1,706.80
22 Flag of the United States.svg Goldman Sachs 1,641.59
23 Flag of Japan.svg Japan Post Bank 1,625.60
24 Flag of Canada (Pantone).svg Royal Bank of Canada 1,566.41
25 Flag of the People's Republic of China.svg China Merchants Bank 1,555.30
26 Flag of Germany.svg Deutsche Bank 1,450.57
27 Flag of the People's Republic of China.svg Industrial Bank (China) 1,432.59
28 Flag of Canada (Pantone).svg Toronto-Dominion Bank 1,428.29
29 Flag of the People's Republic of China.svg China CITIC Bank 1,276.63
30 Flag of France.svg Crédit Mutuel 1,262.95
31 Flag of the People's Republic of China.svg Shanghai Pudong Development Bank 1,207.18
32 Flag of the United States.svg Morgan Stanley 1,193.69
33 Flag of the United Kingdom.svg Lloyds Banking Group 1,122.76
34 Flag of the People's Republic of China.svg China Minsheng Bank 1,082.37
35 Flag of the Netherlands.svg ING Group 1,078.35
36 Flag of Italy.svg Intesa Sanpaolo 1,066.74
37 Flag of Canada (Pantone).svg Scotiabank 1,041.11
38 Flag of Canada (Pantone).svg Bank of Montreal 990.19
39 Flag of the People's Republic of China.svg China Everbright Bank 955.14
40 Flag of the United Kingdom.svg NatWest Group 882.30
41 Flag of Italy.svg UniCredit 872.90
42 Flag of Australia (converted).svg Commonwealth Bank 868.74
43 Flag of Spain.svg Banco Bilbao Vizcaya Argentaria 857.25
44 Flag of the United Kingdom.svg Standard Chartered 822.84
45 Flag of France.svg La Banque postale 815.91
46 Flag of the People's Republic of China.svg Ping An Bank 787.93
47 Flag of India.svg State Bank of India 780.05
48 Flag of Australia (converted).svg ANZ Group 769.59
49 Flag of Canada (Pantone).svg Canadian Imperial Bank of Commerce 726.27
50 Flag of Germany.svg DZ Bank 712.49
51 Flag of Japan.svg Norinchukin Bank 702.03
52 Flag of Australia (converted).svg National Australia Bank 683.41
53 Flag of the Netherlands.svg Rabobank 678.45
54 Flag of Spain.svg CaixaBank 671.13
55 Flag of Australia (converted).svg Westpac 664.50
56 Flag of the United States.svg U.S. Bancorp 663.49
57 Flag of Finland.svg Nordea 662.71
58 Flag of the United States.svg Capital One 629.99
59 Flag of Russia.svg Sberbank of Russia 581.88
60 Flag of Germany.svg Commerzbank 571.64
61 Flag of the People's Republic of China.svg Huaxia Bank 562.58
62 Flag of the United States.svg PNC Financial Services 561.58
63 Flag of Singapore.svg DBS Group 560.10
64 Flag of Brazil.svg Itaú Unibanco 555.72
65 Flag of South Korea.svg KB Financial Group 551.94
66 Flag of Denmark.svg Danske Bank 542.81
67 Flag of the United States.svg Truist Financial Corp 535.35
68 Flag of South Korea.svg Shinhan Financial Group 533.48
69 Flag of Japan.svg Resona Holdings 527.53
70 Flag of Japan.svg Sumitomo Mitsui Trust Holdings 520.34
71 Flag of the People's Republic of China.svg Bank of Beijing 503.31
72 Flag of the People's Republic of China.svg China Guangfa Bank 495.55
73 Flag of the United States.svg Charles Schwab Corporation 493.18
74 Flag of India.svg HDFC Bank 464.34
75 Flag of the People's Republic of China.svg Bank of Jiangsu 457.25
76 Flag of South Korea.svg Hana Financial Group 456.47
77 Flag of Brazil.svg Banco do Brasil 447.72
78 Flag of the United Kingdom.svg Nationwide Building Society 446.95
79 Flag of the People's Republic of China.svg China Zheshang Bank 443.37
80 Flag of Singapore.svg Oversea-Chinese Banking Corporation 441.53
81 Flag of the People's Republic of China.svg Bank of Shanghai 435.14
82 Flag of the Netherlands.svg ABN AMRO 417.72
83 Flag of the United States.svg BNY 409.88
84 Flag of Singapore.svg United Overseas Bank 396.62
85 Flag of Brazil.svg Banco Bradesco 394.76
86 Flag of South Korea.svg Nonghyup Bank 394.46
87 Flag of Japan.svg Nomura Holdings 388.42
88 Flag of South Korea.svg Woori Financial Group 384.04
89 Flag of Belgium (civil).svg KBC Group 383.47
90 Flag of Brazil.svg Caixa Econômica Federal 377.29
91 Flag of Austria.svg Erste Group 372.67
92 Flag of Germany.svg Landesbank Baden-Württemberg 368.41
93 Flag of the People's Republic of China.svg Bank of Ningbo 365.96
94 Flag of Sweden.svg SEB Group 358.79
95 Flag of Switzerland (Pantone).svg Raiffeisen Group 352.87
96 Flag of Sweden.svg Handelsbanken 351.79
97 Flag of South Korea.svg Industrial Bank of Korea 345.81
98 Flag of Norway.svg DNB 339.21
99 Flag of Qatar.svg Qatar National Bank 338.14
100 Flag of Russia.svg VTB Bank 326.85

Banks by country or territory

Number of banks in the top 100 by total assets [1]
RankCountryNumber
1Flag of the People's Republic of China.svg  China 20
2Flag of the United States.svg  United States 12
3Flag of Japan.svg  Japan 8
4Flag of France.svg  France 6
Flag of South Korea.svg  South Korea 6
Flag of the United Kingdom.svg  United Kingdom 6
7Flag of Canada (Pantone).svg  Canada 5
8Flag of Australia (converted).svg  Australia 4
Flag of Brazil.svg  Brazil 4
Flag of Germany.svg  Germany 4
11Flag of the Netherlands.svg  Netherlands 3
Flag of Singapore.svg  Singapore 3
Flag of Spain.svg  Spain 3
14Flag of India.svg  India 2
Flag of Italy.svg  Italy 2
Flag of Russia.svg  Russia 2
Flag of Sweden.svg  Sweden 2
Flag of Switzerland (Pantone).svg   Switzerland 2
19Flag of Austria.svg  Austria 1
Flag of Belgium (civil).svg  Belgium 1
Flag of Denmark.svg  Denmark 1
Flag of Finland.svg  Finland 1
Flag of Norway.svg  Norway 1
Flag of Qatar.svg  Qatar 1

By market capitalization

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]

383 Madison Ave Bear Stearns C R Flickr 1.jpg
JPMorgan Chase, the largest bank in the world by market capitalization
Bank nameGlobalData

(as of 30 September 2024) [4]

Forbes India

(as of 4 October 2024) [5]

RankMarket cap
(US$ billion)
RankMarket cap
(US$ billion)
Flag of the United States.svg JPMorgan Chase 1599.9311583.91
Flag of the United States.svg Bank of America 2307.9002304.56
Flag of the People's Republic of China.svg Industrial and Commercial Bank of China 3303.5433288.06
Flag of the People's Republic of China.svg Agricultural Bank of China 4232.8364231.00
Flag of the People's Republic of China.svg Bank of China 5209.2956187.79
Flag of the People's Republic of China.svg China Construction Bank 6192.7155197.15
Flag of the United States.svg Wells Fargo 7192.2797187.13
Flag of the United Kingdom.svg HSBC 8163.54410159.35
Flag of Australia (converted).svg Commonwealth Bank 9156.639
Flag of the United States.svg Goldman Sachs 10156.356
Flag of Canada (Pantone).svg Royal Bank of Canada 8173.86
Flag of the United States.svg Morgan Stanley 9169.17

See also

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References

  1. 1 2 3 Jimenea, Adrian; Wu, John; Terris, Harry (30 April 2024). "The world's largest banks by assets, 2024". spglobal.com. S&P Global Market Intelligence. Retrieved 8 May 2024.
  2. Banker, The. "Top 1000". www.thebanker.com. Retrieved 26 August 2023.
  3. "World's 100 Biggest Banks: China's ICBC #1". Forbes. 12 February 2014.
  4. 1 2 "Top 10 Banks in the World by Market Capitalization". globaldata.com. 30 September 2024. Retrieved 26 October 2024.
  5. 1 2 "The 10 Largest Banks In The World In 2024". Forbes India. 4 October 2024. Retrieved 26 October 2024.