Which banks rank as the biggest in the world, and just how big are they? Assets play a critical role in this ranking, so find out which firms come in at Nos. 1-100. Spoiler alert: There are some familiar names on the list!
The top 100 banks in the world are all from various countries, but China has its own brand of excellence when it comes to financial services. This is due not only do they have one if not The biggest economy and trade surplus on earth; They also dominate this list with more than 20 entries into Top500 rankings!
Banks are the backbone of any economy. They provide financial services like loans, wealth management, and currency exchange to their customers in order for them be able to thrive as a business or survive!
The main function of a bank is to accept and safeguard money owned by other individuals or entities, then lend out this capital in order for companies like them (the lending ones) can conduct economic activities such as making a profit or simply covering operating expenses. T
hey also offer savings accounts, checking CDs/deposits, loans and similar services including underwriting stock offers brokerage M&A advisory among others.
There are two major types of banks, commercial/retail and investment. Each type offers a variety of financial services to their customers depending on what they want for themselves at that moment.
List of Largest Banks by Assets
Industrial and Commercial Bank of China
Industrial and Commercial Bank of China (ICBC) is the world’s largest commercial bank by total assets. As of 2017, it had US$4.009 trillion in assets. The bank was founded on January 1, 1984, as a state-owned company and went public on October 20, 2006. It is listed on both the Hong Kong Stock Exchange and Shanghai Stock Exchange.
ICBC is one of China’s “Big Four” state-owned commercial banks (the others being Agricultural Bank of China, Bank of China, and China Construction Bank). It has more than 400 million retail customers and nearly 20 million corporate clients.
Total assets (2020) : US$4,324.27 Billion
China Construction Bank
China Construction Bank (CCB) is the world’s second-largest bank by total assets, with US$3,653.11 billion as of 2020. The bank was founded in 1954 and is headquartered in Beijing, China. CCB has a network of over 16,000 branches and outlets throughout China. The bank also operates in other countries such as Hong Kong, Singapore, and Luxembourg.
Total assets (2020) : US$3,653.11 Billion
Agricultural Bank of China
The Agricultural Bank of China is the third-largest bank in the world by total assets. It has total assets of $3,572.98 billion as of 2020.
The Agricultural Bank of China offers a wide range of banking products and services to its customers, including loans, deposits, cards, investment banking, and wealth management. It also operates a large network of branches and ATMs throughout China.
Total assets (2020) : US$3,572.98 Billion
Bank of China
The Bank of China is one of the “big four” state-owned commercial banks in China. It was founded in 1912 and has been operating for over 100 years. As a state-owned bank, it is majority-owned by the Chinese government.
The Bank of China is headquartered in Beijing and has branches in most major cities throughout China. It is also one of the largest banks in the world, with total assets of over $3 trillion (according to Wikipedia).
The Bank of China offers a wide range of products and services, including retail banking, corporate banking, and investment banking. It is one of the leading providers of renminbi (RMB) products and services worldwide.
Total assets (2020) : US$3,270.15 Billion
Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group ( MUFG) is the largest financial group in Japan and one of the largest in the world. The company has a global network with over 3,000 offices in more than 50 countries.
MUFG’s roots can be traced back to 1876 when the Yokohama Specie Bank was founded. In 1959, two banks merged to form the Mitsubishi Bank. And in 2003, the Mitsubishi Tokyo Financial Group and UFJ Holdings merged to form MUFG.
Today, MUFG offers a wide range of products and services including commercial banking, investment banking, securities brokerage, credit card issuance and consumer finance. The company is listed on four stock exchanges including Tokyo Stock.
Total assets (2020) : US$2,892.97 Billion
HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is the world’s seventh largest bank by total assets and the largest in Europe with total assets of €2.374 trillion. It was founded in London in 1991 from a merger of Hongkong and Shanghai Banking Corporation and The Midland Bank.
The origins of the bank lie mainly in Hong Kong and to a lesser extent in Shanghai, where branches were first opened in 1865 and 1866 respectively. HSBC has around 3,900 offices in 67 countries and territories across Africa, Asia, Oceania, Europe, North America and South America, and around 38 million customers.
Total assets (2020) : US$2,715.15 Billion
JPMorgan Chase is a multinational investment bank and financial services company headquartered in New York City. It is the largest bank in the United States by assets.
Some of JPMorgan Chase’s products and services include commercial banking, investment banking, treasury and securities services, asset management, private banking, and credit card services. The firm is a component of the Dow Jones Industrial Average.
JPMorgan Chase was formed in 2000 as a result of the merger between Chemical Bank and J.P. Morgan & Co.
Total assets (2020) : US$2,687.38 Billion
Bank of America
Bank of America is one of the largest financial institutions in the world. It offers a variety of services, including checking and savings accounts, credit cards, loans, and mortgages. The bank also provides investment advice and asset management services.
Bank of America has a long history dating back to the early 20th century. It was founded in San Francisco in October 1904 as the Bank of Italy by Amadeo Giannini. The bank grew rapidly and soon became one of the largest banks in California. In 1928, it merged with two other banks to form the Bank of America National Trust and Savings Association.
Total assets (2020) : US$2,434.08 Billion
BNP Paribas is a French multinational banking and financial services company, with global headquarters in Paris. It is one of the world’s largest banks by total assets and one of the six “world systemically important banks”.
The company operates in nearly 80 countries around the world, providing financing for businesses and consumers and offering a wide range of banking products and services. Some of its key products and services include corporate and investment banking, retail banking, asset management, private banking, and securities brokerage.
BNP Paribas has been in operation for over 150 years and is currently one of the world’s leading banks. It has a strong track record of stability and profitability, making it a safe bet for those looking for high yield savings accounts.
Thanks to French laws that protect bank clients, BNP Paribas has historically held its competitive edge over other major banks. However, the company’s lackluster performance since 2008 is forcing them to contract and expand in new markets. This strategic shift includes a focus on Latin American economies as well as emerging Asian ones.
Total assets (2020) : US$2,429.26 Billion
Crédit Agricole is a French bank that offers a wide range of personal and commercial banking products and services. The company operates through two segments, Retail Banking, and Corporate and Institutional Banking.
The Retail Banking segment provides retail banking products and services to individual customers, professionals, small businesses, farmers, and rural customers. This segment offers current accounts, savings accounts, investments, credit cards, mortgages, loans, and insurance products.
Total assets (2020) : US$2,256.72 Billion
Japan Post Bank
The Japan Post Bank is arguably the largest bank in Japan with close to $2 trillion in assets. It was founded in 2007 as a result of the privatization of the Japanese postal system. The bank offers a wide range of banking products and services, including deposits, loans, insurance, and investment products. It has over 30 million customers and more than 100,000 employees.
Total assets (2020) : US$1,984.62 Billion
SMBC Group is a Japanese investment banking and securities firm. It was founded in 2001 and is headquartered in Tokyo. The company provides a wide range of services, including mergers and acquisitions (M&A), initial public offerings (IPOs), and private equity.
SMBC Group has been involved in a number of high-profile transactions over the years, including the $4.8 billion acquisition of Flextronics’ semiconductor business in 2006, the $2.6 billion acquisition of SBI Holdings’ retail banking unit in 2007, and the $5.5 billion mergers of Mitsubishi Tokyo Financial Group (MTFG) and UFJ Holdings in 2004.
Total assets (2020) : US$1,954.78 Billion
Citigroup Inc. (NYSE: C) is an American multinational investment bank and financial services company headquartered in New York City. The company was formed by the merger of Citicorp and Travelers Group in 1998 and became the largest banking institution in the world by assets. As of 2016, it is the third-largest public company in the United States by market capitalization.
Citigroup has approximately 200 million customer accounts and does business in more than 160 countries. It has a network of approximately 4,000 branches and 16,000 ATMs across the world. The company operates two primary businesses: Citicorp, which consists of Global Consumer Banking (GCB) and Institutional Banking; and Citi Holdings, which consists of businesses and investments that Citigroup has decided to, or was forced to, the spin-off due to capital requirements and/or business performance.
Total assets (2020) : US$1,951.16 Billion
Wells Fargo is one of the country’s largest banks, with over $2 trillion in assets. The company has a long history dating back to 1852, when Henry Wells and William G. Fargo founded the company as a freight transportation business.
The company grew rapidly in the early 20th century, and today Wells Fargo provides banking, insurance, and other financial services to millions of customers across the United States. However, Wells Fargo has come under fire in recent years for fraudulent activities carried out by bank employees.
Total assets (2020) : US$1,927.56 Billion
Mizuho Financial Group
Mizuho Financial Group is one of the largest financial services companies in the world. The company provides a wide range of banking and financial services, including retail banking, wholesale banking, investment banking, credit cards, and asset management.
Mizuho is headquartered in Tokyo, Japan, and has more than 100 branches in 30 countries. The company employs over 60,000 people and has assets of more than $1.8 trillion. Mizuho is a public company listed on the Tokyo Stock Exchange (TYO: 8411).
Total assets (2020) : US$1,874.89 Billion
Banco Santander is a Spanish bank that was founded in 1857. It is the largest bank in Spain and the eurozone, and the 10th-largest bank in the world by assets.
Banco Santander offers a wide range of products and services to personal, corporate, and institutional customers around the world. These products and services include retail banking, asset management, private banking, leasing and factoring, credit cards, insurance, and real estate services.
The bank has a strong presence in Europe but also operates in Latin America, North America, Asia Pacific, and Africa. In 2016, Banco Santander reported total revenues of €43.8 billion and net income of €7.1 billion.
Total assets (2020) : US$1,702.61 Billion
Société Générale is a large French bank that offers a wide range of financial products and services to individuals, small businesses, and corporations. Some of the products and services offered include retail banking, investment banking, private banking, asset management, and insurance. The company is listed on the Paris Stock Exchange and is a member of the CAC 40 Index.
Société Générale was founded in 1864 as a joint-stock company by three prominent businessmen in France. Throughout its history, the company has been involved in a number of major scandals, including the 2002 French presidential election scandal and the 2011 Société Générale rogue trader scandal.
Total assets (2020) : US$1,522.05 Billion
Barclays is a multinational banking and financial services company headquartered in London, United Kingdom. It is a universal bank with operations in retail, wholesale, and investment banking, as well as wealth management, credit cards, and investment products.
Barclays traces its origins to a 17th-century goldsmithing business founded in the City of London. The British Empire expanded rapidly in the 19th century, and Barclays grew with it, establishing branches in several countries overseas. The bank went public in 1984, and today forms the flagship of the Barclay’s Group.
Total assets (2020) : US$1,510.14 Billion
Groupe BPCE is the 2nd largest banking group in France. It was formed in 2010 from the merger of Banque Populaire and Caisse d’Epargne. Today, it has over 16 million customers and employs more than 100,000 people.
The group offers a wide range of products and services, including retail banking, corporate and investment banking, asset management, private banking, and insurance.
BPCE has been through a lot of changes in recent years. In addition to the merger that created the group, it has also undergone a number of major acquisitions. In 2013, for example, it acquired Natixis Bank for €4 billion. And in 2015, it acquired Crédit du Nord for €5.4 billion.
Total assets (2020) : US$1,501.59 Billion
Postal Savings Bank of China
The Postal Savings Bank of China (PSBC) is a state-owned financial institution that offers a wide range of banking products and services to consumers and businesses in China. It is the world’s fifth largest bank by total assets, with over $3 trillion in assets as of 2017.
The PSBC was founded in 2007 as a successor to the former State Postal Bureau Savings Bank. It is headquartered in Beijing and has more than 4,400 branches across China. The PSBC offers deposit, loan, and payment services to its customers, as well as insurance products, investment products, and other financial services.
The PSBC is majority-owned by the Chinese government. It has been profitable every year since it was founded, making the PSBC one of China’s few state-owned commercial banks to do so.
The Postal Savings Bank of China was founded in 2007 as a successor to the former State Postal Bureau Savings Bank. The PSBC has grown quickly since its establishment, establishing its first overseas branch in Dubai in 2009 and opening over 4,400 branches by the end of 2017.
Every year since 2007, the PSBC has earned a net profit, making it one of China’s few state-owned commercial banks to do so. The PSBC is majority-owned by the Chinese government, with 83.2 percent of its shares owned by various governmental entities as of 2015. It has been profitable every year since its establishment, recording a net profit of RMB$92 billion in 2014. The bank has prioritized “social responsibilities” in addition to pursuing profits, focusing on financial inclusion for rural residents and small businesses.
Total assets (2020) : US$1,467.31 Billion
Deutsche Bank (DB) is a German global banking and financial services company with its headquarters in Frankfurt, Germany. It has operations in more than 70 countries.
Founded in 1870, Deutsche Bank has been one of the leading names in international banking for over a century. In 2001, it merged with the Dresdner Bank, forming the largest bank in Europe. Today, Deutsche Bank is one of the world’s largest asset managers and one of the largest providers of investment products.
In terms of assets under management, Deutsche Bank is ranked #8 globally with $1.5 trillion USD AUM as of 2018. The company offers a wide range of products and services to individuals, small businesses, large corporations, and institutional investors.
Total assets (2020) : US$1,456.26 Billion
Bank of Communications
The Bank of Communications is one of the largest banks in China, with total assets of over 2 trillion yuan. It was founded in 1902 as the Imperial Bank of China and became a state-owned commercial bank in 1948.
The Bank of Communications offers a wide range of banking products and services, including retail banking, corporate banking, investment banking, asset management, and insurance. It has more than 300 million individual and corporate customers and over 30,000 employees.
The Bank of Communications is headquartered in Beijing and has branches and subsidiaries in major cities throughout China. In addition, it has a presence in Hong Kong, Macau, Singapore, New York City, London, Frankfurt am Main, Sydney, Melbourne, Auckland, and Luxembourg.
Like other Chinese state-owned banks, the Bank of Communications is not well known for its innovation in next-generation banking services, but it is actively playing a leading role in China’s big data industry by leveraging the vast amount of real-time financial and non-financial transactional data that it has collected over the past century. In the past two years, it has been a top investor in several big data startups and signed strategic cooperation agreements with over 10 companies.
Total assets (2020) : US$1,422.63 Billion
Goldman Sachs is an American multinational investment banking and securities firm that engages in global investment banking, securities, and investment management.
Founded in 1869, the firm provides a wide range of financial services to corporations, financial institutions, governments, and individuals. Goldman Sachs has been involved in some of the most high-profile and groundbreaking deals in history.
The company’s employees are known for their intelligence and expertise, and the firm has a long history of hiring only the smartest and most qualified people. Goldman Sachs is one of the most respected banks in the world and is considered to be one of the “too big to fail” institutions.
Total assets (2020) : US$1,200.00 Billion
Royal Bank of Canada
The Royal Bank of Canada (RBC) is a Canadian multinational lender and financial services company. It is the largest bank in Canada, as measured by deposits, revenues, and market capitalization.
The bank was founded in 1864 in Halifax, Nova Scotia. RBC is the largest Canadian company by assets and among the 50 largest banks in the world. It has been listed on the Toronto Stock Exchange since 1870. RBC’s international headquarters are located in London, England.
RBC operates branches in all ten provinces of Canada, as well as in Washington D.C., Europe, and Asia. The bank’s 677 branches and 2,094 ATMs served 16 million clients at year-end 2017.
Total assets (2020) : US$1,116.31 Billion
Lloyds Banking Group
Lloyds Banking Group (LBG) is a British banking and financial services company, with headquarters in London. It has been a constituent of the FTSE 100 Index since 23 June 2014. The company was founded in 1695 by Edward Lloyd as a coffee house in Tower Street, London. At the beginning of 2009, it was the largest bank in the world by market capitalization but was overtaken by China’s ICBC during the global financial crisis.
The Group has around 30 million customers and provides a wide range of products and services, including current accounts, savings accounts, mortgages, loans, credit cards and insurance products. The Group operates principally through its two main subsidiaries: Lloyds Bank and HBOS.
Total assets (2020) : US$1,104.42 Billion
Toronto-Dominion Bank is a Canadian multinational bank that is the second largest in Canada by deposits and market capitalization. It has over 80,000 employees and over 22 million customers worldwide. The company ranks at number 131 on the Forbes Global 2000 list.
Toronto-Dominion Bank was founded in 1871 as The Dominion Bank. In 1998, it merged with TD Bank Financial Group to form Toronto-Dominion Bank. Today, the company operates under three main segments: Canadian Retail, U.S. Retail, and Wholesale Banking. Toronto-Dominion Bank is a publicly-traded company listed on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE).
Total assets (2020) : US$1,102.04 Billion
China Merchants Bank
China Merchants Bank (CMB) is a large Chinese bank with origins dating back to the Qing Dynasty. It is one of the biggest banks in the world by total assets and is the largest financial institution in Mainland China.
The bank has a wide range of products and services, including corporate banking, retail banking, treasury, and investment banking. It also operates an extensive network of branches and ATMs across China.
CMB has been criticized in the past for its poor customer service and opaque business practices. However, it has made significant strides over the past few years to improve its reputation and become more customer-focused. In 2017, it was named Retail Bank of the Year by Asian Financial Forum.
Total assets (2020) : US$1,065.25 Billion
Intesa Sanpaolo is an Italian banking group. It ranks as the second-largest bank in Italy, after Unicredit, and has more than 8,000 branches and over 100,000 employees.
The company offers a wide range of retail and corporate banking products and services, including loans, deposits, mortgages, credit cards, and investment products. Intesa also has a strong presence in Central and Eastern Europe, with subsidiaries in Bulgaria, Croatia, the Czech Republic, Hungary, Romania, Russia, Serbia Montenegro), Slovenia).
Intesa Sanpaolo was founded in 1998 as the result of a merger between Banca Commerciale Italiana (BCI) and Sanpaolo IMI. BCI was formed in 1992 by the merger of Cassa di Risparmio delle Provincie Lombarde (aka Cariplo) and Banco Ambrosiano. Sanpaolo IMI was formed in 1998 by the merger of Istituto Bancario San Paolo di Torino, which specialized in retail banking, and the investment bank IMI.
Total assets (2020) : US$1,057.82 Billion
Norinchukin Bank is a financial institution headquartered in Tokyo, Japan. It is the world’s largest bank in terms of assets and among the top 10 largest banks in the world by market capitalization. The bank was formed on October 1, 1966, as a result of the merger of two Japanese regional banks, The Chiba Bank and The Metropolitan Bank.
Norinchukin Bank provides a wide range of banking services to individuals, businesses, and other financial institutions in Japan and around the world. Some of the key services offered by the bank include retail banking, commercial banking, corporate finance, investment banking, securities brokerage, foreign exchange trading, and credit card services.
Total assets (2020) : US$1,011.14 Billion
The ING Group is a multinational banking and financial services corporation with its origins in the Netherlands. It has offices in over 40 countries and services clients in more than 100.
ING Group is one of the world’s largest banking and financial services corporations, offering a range of services including retail banking, corporate finance, investment banking, asset management, and insurance. It has a long history dating back to 1881 when it was founded as the Internationale Nederlanden Groep.
In 1990, it became ING Group NV and went public on the Amsterdam Stock Exchange. Today, it has offices in over 40 countries and provides services to clients in more than 100.
Total assets (2020) : US$1,000.72 Billion
Industrial Bank (China)
Industrial Bank is one of the “big four” banks in China, along with the Agricultural Bank of China, the Bank of China, and the Construction Bank of China. It is headquartered in Beijing and was founded in 1984. As of March 2017, it had total assets of 3.9 trillion yuan (about $579 billion).
The bank is listed on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange. It has a market capitalization of about 460 billion yuan (about $68 billion) as of June 2017. In terms of total assets, it ranks sixth among Chinese banks and seventh among global banks.
Industrial Bank is principally engaged in commercial banking activities, including corporate banking, retail banking, and investment banking.
Total assets (2020) : US$976.79 Billion
List of 100 Largest Banks in the World and Total Assets
|Name of Bank||Total assets in USD B (2020)|
|Industrial and Commercial Bank of China||$4,324.27 B|
|China Construction Bank||$3,653.11 B|
|Agricultural Bank of China||$3,572.98 B|
|Bank of China||$3,270.15 B|
|Mitsubishi UFJ Financial Group||$2,892.97 B|
|JPMorgan Chase||$2,687.38 B|
|Bank of America||$2,434.08 B|
|BNP Paribas||$2,429.26 B|
|Crédit Agricole||$2,256.72 B|
|Japan Post Bank||$1,984.62 B|
|SMBC Group||$1,954.78 B|
|Citigroup Inc.||$1,951.16 B|
|Wells Fargo||$1,927.56 B|
|Mizuho Financial Group||$1,874.89 B|
|Banco Santander||$1,702.61 B|
|Société Générale||$1,522.05 B|
|Groupe BPCE||$1,501.59 B|
|Postal Savings Bank of China||$1,467.31 B|
|Deutsche Bank||$1,456.26 B|
|Bank of Communications||$1,422.63 B|
|Goldman Sachs||$1,200.00 B|
|Royal Bank of Canada||$1,116.31 B|
|Lloyds Banking Group||$1,104.42 B|
|Toronto-Dominion Bank||$1,102.04 B|
|China Merchants Bank||$1,065.25 B|
|Intesa Sanpaolo||$1,057.82 B|
|Norinchukin Bank||$1,011.14 B|
|ING Group||$1,000.72 B|
|Industrial Bank (China)||$976.79 B|
|Crédit Mutuel||$976.14 B|
|China Minsheng Bank||$959.63 B|
|NatWest Group||$957.6 B|
|Shanghai Pudong Development Bank||$950.01 B|
|China CITIC Bank||$904.02 B|
|Morgan Stanley||$895.43 B|
|Credit Suisse||$812.91 B|
|Banco Bilbao Vizcaya Argentaria||$782.16 B|
|Standard Chartered||$720.4 B|
|Commonwealth Bank||$688.4 B|
|China Everbright Bank||$679.81 B|
|Bank of Montreal||$665.2 B|
|Australia and New Zealand Banking Group||$661.72 B|
|State Bank of India||$640.31 B|
|National Australia Bank||$571.34 B|
|Ping An Bank||$565.72 B|
|Danske Bank||$564.83 B|
|DZ Bank||$561.54 B|
|U.S. Bancorp||$553.9 B|
|Resona Holdings||$549.51 B|
|Sumitomo Mitsui Trust Holdings||$509.28 B|
|Canadian Imperial Bank of Commerce||$495.99 B|
|Sberbank of Russia||$482.53 B|
|Shinhan Bank||$478.5 B|
|Truist Financial Corp||$473.08 B|
|KB Financial Group Inc||$449.15 B|
|DBS Bank||$430.45 B|
|Nomura Holdings||$425.5 B|
|Huaxia Bank||$422.74 B|
|ABN AMRO||$420.89 B|
|PNC Financial Services||$410.3 B|
|Itaú Unibanco||$407.37 B|
|Capital One||$390.37 B|
|The Bank of New York Mellon||$381.51 B|
|Bank of Beijing||$374.97 B|
|Nonghyup Bank||$369.92 B|
|OCBC Bank||$365.57 B|
|Banco do Brasil||$365.51 B|
|Hana Financial Group||$365.1 B|
|Banco Bradesco||$345.21 B|
|China Guangfa Bank||$343.26 B|
|KBC Bank||$327.87 B|
|Caixa Econômica Federal||$321.68 B|
|DNB ASA||$317.75 B|
|Woori Bank||$313.54 B|
|Nationwide Building Society||$307.45 B|
|Bank of Shanghai||$306.04 B|
|SEB Group||$305.79 B|
|La Banque postale||$304.88 B|
|United Overseas Bank||$300.68 B|
|Bank of Jiangsu||$296.58 B|
|Landesbank Baden-Württemberg||$287.99 B|
|Erste Group||$275.72 B|
|Industrial Bank of Korea||$275.54 B|
|Qatar National Bank||$259.48 B|
|China Zheshang Bank||$258.63 B|
|Raiffeisen Gruppe||$256.43 B|
|Banco Sabadell||$251.1 B|