The Largest Banks In The World (2024)

A bank’s profitability and liquidity depend on the amount of assets it holds. Assets play a significant role in determining the size of the bank. Assets also show the worth of a bank and include both liquid wealth and property owned by the bank that can be converted to cash. Assets are divided into two types: current assets, and non-current assets. The following is a list of the world's largest banks in terms of total assets.

The World's Largest Banks By Total Assets

1. Industrial and Commercial Bank of China (ICBC) - US $3,473.09 Billion

The Industrial and Commercial Bank of China, or ICBC, is an international financial company and by far the largest bank in the world on asset value. A government-owned bank, the ICBC initially began as a limited company in 1984. As of 2017, the bank has an asset value of US$ 3,473.09 billion. In 2006 ICBC was listed in the stock markets of both Shanghai and Hong Kong. The bank has continued to grow to form a strong customer base and a diversified business structure. The ICBC has a total of 490 million retail customers and 5,320 thousand corporate customers. It is a global bank with branches spread across Asia, Europe, America, and Oceania.

2. China Construction Bank Corporation (CCB) - US $3,016.45 Billion

The China Construction Bank Corporation (CCB) was founded in 1954. It is the second largest bank in the world on asset value. Initially called People’s Construction Bank of China, the bank is also the 6th largest company worldwide. CCB has 13,629 branches locally in China and several branches in different parts of the world. CCB has assets amounting to a total of US$3,016.45 billion.

3. Agricultural Bank of China (ABC) - US $2,815.92 Billion

The Agricultural Bank of China (ABC) was established in 1951 and comes as the third largest bank in the world. It has its central operations in Beijing with several branches spread across China, Tokyo, Hong Kong, London, New York, Frankfurt, Sydney, Singapore, and Seoul. In total ABC has 24,000 branches. Its retail customers total 320 million while corporate clients total 2.7 million. In 2010, ABC went public, fetching the biggest IPO (Initial Public Offering) in the world.

4. Mitsubishi UFJ Financial Group - US $2,626.29 Billion

The Mitsubishi UFJ Financial Group, Inc. (or MUFG) is a major bank headquartered in the Japanese capital of Tokyo. It is the largest bank in Japan, and the fourth largest bank in the world in terms of total assets. The company was a result of a combined effort of two companies, the Mitsubishi Tokyo Financial Group from Tokyo and UFJ Holdings from Osaka.

5. Bank of China - US $2,611.43 Billion

The Bank of China is the fifth largest bank in the world by total assets. The bank has existed in some form since 1912. Today, the Bank of China is considered to me one of the four main banks in China. Like its other Chinese counterparts, it is government-owned. The Bank of China is headquartered in Beijing.

6. JPMorgan Chase & Co. - US $2,500.00 Billion

JPMorgan Chase & Co., which is headquartered in Manhattan, is the first of American banks on this list. It is considered to be the world's second most valuable bank in terms of market capitalization, and the world's sixth largest bank by total assets. JPMorgan Chase & Co. is the largest bank in the United States. In the realm of retail and credit card services, JPMorgan Chase & Co. operates under the name "Chase".

7. HSBC Holdings PLC - US $2,374.15 Billion

HSBC Holdings PLC, or simply HSBC, is a major bank headquartered in London, England. It has the largest assets out of all European banks, and ranks as one of the most important banks in the world. HSBC has a presence in over 65 countries around the globe. HSBC is primarily listed on both the London Stock Exchange and the Hong Kong Stock Exchange.

8. BNP Paribas - US $2,189.27 Billion

BNP Paribas is a French bank with headquarters in Paris. It is one of the largest banks in the world by total assets. Although the bank has the largest presence in France, it also has locations in some countries in northern Africa as well as in Italy and Belgium.

9. Bank of America - US $2,187.70 Billion

The Bank of America is one of the largest banks in the United States, as well as in the world. It has its headquarters in Charlotte, North Carolina, United States. The Bank of America is one of the largest companies in the United States. The Bank of America owns several buildings in major cities across the United States, and also has thousands of ATMs across the country.

10. Wells Fargo & Co. - US $1,930.12 Billion

Wells Fargo, officially called Wells Fargo and Company, is a major American bank. It has its headquarters in San Francisco, though it also has secondary headquarters across the country. The bank was founded in 1852, making it one of the oldest banks in the United States.

The Future Of Banking Operations

The world's largest financial institutions have evolved into complex institutions offering a broad range of financial services to international markets, and controlling trillions of dollars in both cash and assets. With innovation and technology, banks are identifying new business and markets and developing customized products and services. With globalization, minimal regulations, consolidation, and diversification the banking industry is likely to become even more complex in coming years.

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