List of largest banks explained
The following are lists of the largest banks in the world, as measured by total assets and market capitalization.
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] If Goldman Sachs reported under the IFRS, it would be ranked 17th on the list, rather than 26th.
data-sort-type="number" | Rank | Bank name | Total assets (2023) (US$ billion) |
---|
1 | Industrial and Commercial Bank of China | 6,303.44 |
2 | Agricultural Bank of China | 5,623.12 |
3 | | 5,400.28 |
4 | Bank of China | 4,578.28 |
5 | JPMorgan Chase | 3,875.39 |
6 | Bank of America | 3,180.15 |
7 | HSBC | 2,919.84 |
8 | BNP Paribas | 2,867.44 |
9 | Mitsubishi UFJ Financial Group | 2,816.77 |
10 | Crédit Agricole | 2,736.95 |
11 | Postal Savings Bank of China | 2,217.86 |
12 | Citigroup | 2,200.83 |
13 | SMBC Group | 2,027.34 |
14 | Banco Santander | 1,986.36 |
15 | Bank of Communications | 1,982.89 |
16 | Wells Fargo | 1,932.47 |
17 | Mizuho Financial Group | 1,923.56 |
18 | Barclays | 1,891.72 |
19 | Société Générale | 1,717.49 |
20 | UBS | 1,717.25 |
21 | Groupe BPCE | 1,706.80 |
22 | Goldman Sachs | 1,641.59 |
23 | Japan Post Bank | 1,625.60 |
24 | Royal Bank of Canada | 1,566.41 |
25 | China Merchants Bank | 1,555.30 |
26 | Deutsche Bank | 1,450.57 |
27 | Industrial Bank (China) | 1,432.59 |
28 | Toronto-Dominion Bank | 1,428.29 |
29 | China CITIC Bank | 1,276.63 |
30 | Crédit Mutuel | 1,262.95 |
31 | Shanghai Pudong Development Bank | 1,207.18 |
32 | Morgan Stanley | 1,193.69 |
33 | Lloyds Banking Group | 1,122.76 |
34 | China Minsheng Bank | 1,082.37 |
35 | ING Group | 1,078.35 |
36 | Intesa Sanpaolo | 1,066.74 |
37 | Scotiabank | 1,041.11 |
38 | Bank of Montreal | 990.19 |
39 | China Everbright Bank | 955.14 |
40 | NatWest Group | 882.30 |
41 | UniCredit | 872.90 |
42 | Commonwealth Bank | 868.74 |
43 | Banco Bilbao Vizcaya Argentaria | 857.25 |
44 | Standard Chartered | 822.84 |
45 | La Banque postale | 815.91 |
46 | Ping An Bank | 787.93 |
47 | State Bank of India | 780.05 |
48 | ANZ Group | 769.59 |
49 | Canadian Imperial Bank of Commerce | 726.27 |
50 | DZ Bank | 712.49 |
51 | Norinchukin Bank | 702.03 |
52 | National Australia Bank | 683.41 |
53 | Rabobank | 678.45 |
54 | CaixaBank | 671.13 |
55 | Westpac | 664.50 |
56 | U.S. Bancorp | 663.49 |
57 | Nordea | 662.71 |
58 | Capital One | 629.99 |
59 | Sberbank of Russia | 581.88 |
60 | Commerzbank | 571.64 |
61 | Huaxia Bank | 562.58 |
62 | PNC Financial Services | 561.58 |
63 | DBS Group | 560.10 |
64 | Itaú Unibanco | 555.72 |
65 | KB Financial Group | 551.94 |
66 | Danske Bank | 542.81 |
67 | Truist Financial Corp | 535.35 |
68 | Shinhan Financial Group | 533.48 |
69 | Resona Holdings | 527.53 |
70 | Sumitomo Mitsui Trust Holdings | 520.34 |
71 | Bank of Beijing | 503.31 |
72 | China Guangfa Bank | 495.55 |
73 | Charles Schwab Corporation | 493.18 |
74 | HDFC Bank | 464.34 |
75 | Bank of Jiangsu | 457.25 |
76 | Hana Financial Group | 456.47 |
77 | Banco do Brasil | 447.72 |
78 | Nationwide Building Society | 446.95 |
79 | China Zheshang Bank | 443.37 |
80 | OCBC | 441.53 |
81 | Bank of Shanghai | 435.14 |
82 | ABN AMRO | 417.72 |
83 | BNY | 409.88 |
84 | United Overseas Bank | 396.62 |
85 | Banco Bradesco | 394.76 |
86 | Nonghyup Bank | 394.46 |
87 | Nomura Holdings | 388.42 |
88 | Woori Financial Group | 382.05 |
89 | KBC Group | 383.47 |
90 | Caixa Econômica Federal | 377.29 |
91 | Erste Group | 372.67 |
92 | Landesbank Baden-Württemberg | 368.41 |
93 | Bank of Ningbo | 365.96 |
94 | SEB Group | 358.79 |
95 | Raiffeisen Group | 352.87 |
96 | Handelsbanken | 351.79 |
97 | Industrial Bank of Korea | 345.81 |
98 | DNB | 339.21 |
99 | Qatar National Bank | 338.14 |
100 | VTB Bank | 326.85 | |
Banks by country or territory
By market capitalization
Forbes maintains a list of top ten largest banks in the world, ranked by their market capitalization. The list was updated on May 2, 2024.
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.[4]
See also
Notes and References
- Web site: Jimenea . Adrian . Wu . John . Terris . Harry . 30 April 2024 . The world’s largest banks by assets, 2024 . 8 May 2024 . spglobal.com . S&P Global Market Intelligence.
- Web site: Banker . The . Top 1000 . 26 August 2023 . www.thebanker.com . en-GB.
- Web site: World's 100 Biggest Banks: China's ICBC #1 . 12 February 2014 . Forbes.
- News: The 10 largest banks in the world by market capitalization as of January 2024 .