The Largest Banks in the World

The largest banks in the world give a glimpse of the economic activity and trends in the global economy. Chinese and American banks top the list and European banks seem to be slipping down it. This article reviews the S&P Global list of the largest banks in the World 2022. 

China

With a larger balance sheet, big Chinese banks maintained their top four rankings and increased their advantage over the majority of other banks worldwide.

In 2021, the combined assets of Industrial & Commercial Bank of China Ltd., China Construction Bank Corp., Agricultural Bank of China Ltd., and Bank of China Ltd. increased by 10.2% to $19.081 trillion from $17.321 trillion the previous year.

Industrial & Commercial Bank of China Ltd.

The largest bank in the world and the largest bank in China is Industrial and Commercial Bank of China Ltd. (ICBC). One of the “Big Four” state-owned commercial banks in China (the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank). In terms of market value, deposits, and profitability, it is the biggest bank in the world. It is also the most profitable bank in the world.

On January 1st, 1984, a limited company was established. It has assets worth RMB 11 trillion ($1.6 trillion) as of 2009 and more over 18,000 locations worldwide, including 106 branches and agents abroad.

It surpassed Citigroup to become the most valuable bank in the world in July 2007 with a market capitalization of US$ 254 billion.

The U.S.

Major American banks including JPMorgan Chase & Co., Bank of America Corp., and The Goldman Sachs Group Inc. had balance sheet growth in 2021, which raised their rankings for asset size. JPMorgan and Bank of America rose one and two spots, respectively, to positions No. 5 and No. 7.

JPMorgan Chase & Co

J.P. Morgan is a leader in financial services globally, providing solutions to more than 100 countries’ most significant institutions, governments, and enterprises. JPMorgan Chase will distribute $1.75 billion in charitable money globally by 2023, as it was reported in early 2018. By employing its various resources, such as those resulting from access to cash, economies of scale, worldwide reach, and experience, it also coordinates voluntary service projects for employees in local communities.

Europe 

In 2021, major Chinese bankers continued to hold the top spot as the largest financial institutions in the world, but European banks’ dominance in the rankings of global asset size diminished somewhat.

According to S&P Global Market Intelligence, 26 of the 37 European lenders on the list of the 100 largest banks in the world saw their positions drop from one to nine spots as of the end of 2021 from the previous year. All of the European banks on the list’s combined assets decreased 2.16 percent to $36.890 trillion in 2021 from $37.707 trillion the previous year.

The List of the Top 20 Largest Banks in the World by S&P Global Include:

1. Industrial and Commercial Bank of China

2. China Construction Bank Corp. 

3. Agricultural Bank of China Ltd. 

4. Bank of China Ltd.

5. JPMorgan Chase & Co

6. Mitsubishi UFJ Financial Group Inc.

7. Bank of America Corp.

8. HSBC Holdings PLC

9. BNP Paribas SA

10. Crédit Agricole Group 

11. Citigroup Inc.

12. Sumitomo Mitsui Financial Group Inc. 

13. Wells Fargo and Co.

14. Barclays PLC 

15. Bank of Communications Co. Ltd.

16. Banco Santander SA

17. Groupe BPCE

18. Société Générale SA

19. Deutsche Bank AG

20. The Toronto-Dominion Bank 

The Following Demonstrate Bank Assets by Country

To ask any questions related to the rights of NRIs, PIOs, and OCIs, you can download SBNRI App from the Google Play Store or App Store. You can also use the SBNRI app for investment in stock market/ mutual funds, NRI account opening, tax filing, etc. To ask any questions, click on the button below. Also, visit our blog and YouTube channel for more details. 

Ask Indian Friend Now

FAQs