15 biggest banks in the world
There are many such banks in the world whose place is highest. These banks have been given the status of big banks according to their revenue and assets. These banks are related to the economy of the whole world. Here you will be told about such 5 big banks of the world whose place is included in the list of top 10 banks. So let’s know which are those banks. So let’s know which are the 10 biggest banks in the world.
1. Industrial And Commercial Bank of China
Established in 1984, the Industrial and Commercial Bank of China has quickly become the world’s largest bank by assets. Its current assets are $102 Billion. ICBC is spread to the remotest areas of cheeses in the industry.
This bank provides loan, credit card and money management facilities for business. Apart from this, the bank also provides the facility of investment, exchange and transfer.
- Revenue: $123.6 B
- Net Income: $45.3B
- Market Cap: 231.8 B
2. China Contruction Bank Corporation
It is the second largest bank in the world. China Construction Bank Corporation currently has $3.02 trillion in assets. One of the old banks in China, CCB was established in 1954. In 2005, Bank of America wanted to expand its business to China.
Hence it bought 9% stake in CCB. In 2013, Bank of America sold its remaining stake in CCB and focused its Asian operations in Hong Kong.
- Revenue: $102B
- Net Income: $38.7B
- Market Cap: $196.6B
3. HSBC Holdings
HSBC Bank is located in England, this bank has offices in 80 countries, so the same UK. This bank is in 1,800 places. HSBC provides its 4 million customers with access to global markets through its Personal Financial Services, Private Banking, Retail Banking and Global Banking and Markets segments. HSBC was initially established in 1865 in British Hong Kong.
- Revenue: $56.1B
- Net Income: $8.71B
- Market Cap: $102.8B
4. Bank of America
Bank of America is a U.S. is a bank that provides services for personal banking, small business, mid-sized businesses and large corporations. It provides investment services in addition to its deposit and checking accounts. Bank of America has approximately 5,000 retail outlets.
- Revenue: $91.2B
- Net Income: $27.4B
- Market Cap: $188.5B
5. BNP Paribas
It has offices in 75 countries including the United States. In 2016, this bank was ranked second among banks in the Euro area, but in 2017 its position has reached number 7. The company announced on April 5, 2017, that it had sold its shares in Dakota Pipeline for $120 million.
- Revenue: $79.4B
- Net Income: $27.2B
- Market Cap: $109.1B
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6. Bank Of China
This bank was established in 1912. Bank of China controls $2.61 trillion in assets. Bank of China is no longer 100% state owned, the largest shareholder of Bank of China is still the investment arm of the People’s Republic of China. Bank of China is the largest lender of the country. It currently has two locations in New York State.
- Revenue: $79.4B
- Net Income: $27.2B
- Market Cap: $109.1B
7. Mitsubishi UFJ Financial Group
Mitsubishi is Japan’s largest bank holding / financial services group. Part of Mitsubishi Corporation, the company provides a wide range of financial and investment services, including commercial banking, trust banking, international finance and asset management services.
- Revenue: $34.65B
- Net Income: $45.3B
- Market Cap: $64.81B
8. JP Morgan Chase
JP Morgan Change provides products and services to its clients in 100 countries, it provides asset management investment banking, private banking, treasury and securities services and commercial banking. JP Morgan CHANGE is traded on the NYSE under the ticker symbol JPM.
- Revenue: $114.6B
- Net Income: $36.4B
- Market Cap: $8.5B
9. Agricultural Bank of China
The Agricultural Bank of China, established in 1951, is one of the world’s largest banks with $2.82 trillion in assets. The Agricultural Bank of China has branches in Seoul, Singapore, Sydney, London, New York and many other places in the world’s largest cities.
- Revenue: $89.7B
- Net Income: $30.9B
- Market Cap: $131.5B
10. Wells Fargo
Wells Fargo has dealt with some scandals over the years that they would rather forget. Wells Fargo Bank currently has $1.93 trillion in assets and is one of the largest retail banks in the United States.
- Revenue: $85.063B
- Net Income: $19.549B
- Market Cap: $222.96B
11. Goldman Sachs (GS)
One of the oldest banking firms established in 1869 and headquartered in New York, GS is offering its wide range of services across four divisions namely Investment Banking, Institutional Client Services, Investments & Lending and Investment Management. Goldman Sachs had a net profit of $32.07 billion in FY2017, of which investment banking contributed $7.37 billion. The investment banking division’s profit was higher than all the divisions. Its earnings per share (EPS) in 2017 was $9.01
12. JPMorgan Chase (JPM)
It is one of the largest investment banks, JP Morgan Chase had a net profit of $99 billion in fiscal year 2017, of which investment banking contributed $34.5 billion. Its EPS was $6.31. “The firm has $2.53 trillion in assets and $255 billion in stockholders’ equity” and has operations in 60 countries with over 60,000 employees. In addition to investment banking, it also serves sectors such as consumer and community banking, commercial banking, asset and wealth management, and corporate.
13. Barclays (BCS)
Founded in 1896, the London, UK-based investment bank was accused of rigging London interbank rates and made headlines in 2013 for cutting jobs globally. With 139,600 employees worldwide, it had total revenues of £21,451 million in its 2016 annual report, of which investment banking contributed £10,533 million. Overall, its EPS was £-0.12. Along with investment banking, it is also in the business of retail and commercial banking and card processing.
14. Bank of America Corporation (BAC)
Bank of America Corporation (BAC) Bank of America Corporation is an American multinational banking and financial services company that provides banking services such as investment banking, mortgage, trading, brokerage and card services. Operating in 40 countries around the world, the bank had a net income of $18.23 billion in FY2017, of which the investment banking division contributed $6,953 million. Total EPS for 2017 was $1.56.
15. Morgan Stanley (MS)
Morgan Stanley (MS) Established in 1935 and headquartered in New York USA, the firm employs 55,794 employees spread across several countries. Its net profit in FY17 was $37.9 billion, of which the investment banking sector contributed $1.4 billion, up from $1.3 billion in the previous year. Its EPS was $3.09. In addition to general capital raising, M&A, corporate restructuring services, as well as various services like brokerage, custodian, settlement and clearing.
16. Deutsche Bank (DB)
Deutsche Bank (DB) Germany’s Deutsche Bank, listed on the New York Stock Exchange, reported net profit of 26.4 billion euros, down 12% in a year. One of Europe’s largest financial services firms, the bank provides a range of services including cross border payments, international trade financing, cash management, card services, mortgages, insurance and investment banking. It is a global bank operating in 71 countries.
17. Citigroup (C)
Citigroup (C) Started in 1812, Citibank has 219,000 employees and as of 2016 had operations in 160 countries. Total profit in 2017 was $71.4 billion, of which investment banking contributed 20% more than the previous year’s $5.17 billion. Its EPS was $2.76. The group offers a range of services such as investment banking, investment management, private banking and card processing.
18. Credit Suisse (DHY)
Credit Suisse (DHY) Founded in 1856, Credit Suisse Group, based in Zurich, Switzerland, today has operations in more than 50 countries and has more than 48,000 employees. In 2017, CF was 20.9 billion and EPS was -0.41. In addition to investment banking, it provides services such as tax and advisory, structured lending, real estate leasing and investment research.
19. UBS Group AG (UBS)
UBS Group AG (UBS) Founded in 1862, this Swiss investment firm is headquartered in Zurich. UBS reported a net profit of $1.25 billion and EPS of $0.32 in 2017. The company employs 60,000 people worldwide, most of them in the United States and Switzerland. Along with investment banking, it provides services like private, retail and commercial banking.
20. HDFC Bank – HDFC In Top 10 Global Bank Club:
Private sector’s largest bank HDFC Bank (HDFC Bank) and housing finance company ADFC (HDFC) are going to merge with each other, which has already been announced. As soon as both the financial institutions of HDFC group get merged, HDFC Bank will join the club of top 10 banks in the world.
Indian bank in the club of top 10 banks
Currently HDFC Bank’s market cap is $108 billion. Recently, HDFC Bank has overtaken Citibank which was ranked 17th with a value of $100.5 billion. Let us tell you that the country’s largest public sector bank SBI is at 32nd position in the club of top banks with a market value of $57 billion. Currently HDFC Bank’s market cap is $108 billion and HDFC’s market cap is $52 billion. But as soon as HDFC is merged with HDFC Bank, the market cap of the new HDFC Bank formed after the merger will exceed $160 billion. This will be the first time that an Indian bank will be included in the list of top 10 banks in the world.
HDFC Bank + HDFC at 6th place in Top 10!
Currently, JP Morgan Chase is in the first place with a value of $ 337 billion. So Bank of America is in second place with a value of $269 billion, China’s ICBC is in third place with a value of $221 billion. America’s Wells Fargo is in fourth place with $164 billion. China Construction Bank is at the fifth position with a value of $161 billion. And after the merger, HDFC Bank + HDFC will be in sixth place with a value of $ 160 billion, which will be more than Agricultural Bank of China and Morgan Stanley.
It will take time
to complete the merger process of HDFC Bank + HDFC may take 15 more months to complete the merger process. That is, the merger process is expected to be completed by the end of 2023. The merger of HDFC and HDFC Bank has to be approved by the banking sector regulator RBI, stock market regulator SEBI, insurance sector regulator IRDAI, PFRDA and CCI.
Conclusion
worth noting There is no ranking in any of the orders in the list above. Apart from these there are companies like Nomura, Warburg, BNP Paribas, RBS, Wells Fargo etc. which are large financial companies that provide investment banking services both locally and globally.