The bank plays a lively role in our life. The world may be shrinking, but the banks are the sophisticated component of our global economy. The kickback from the financial crisis hasn’t put an incision in the world’s largest banks. Most of the world’s largest are outside the US, but there is one American based bank that now listed as the top largest world banks. Here are some of the biggest banks.
ICBC or Industrial & Commercial Bank of China is listed as the the first rank position in the world’s largest bank. It is the greatest bank in the world by total assets and by market capitalization. It was established as a limited company in January , 1984. In 2014, it had assets of US $3.32 trillion. This is the first Chinese bank to win this achievement. In 1999, ICBC opened a branch in Luxembourg which became the European central office of the bank in 2011. ICBC was the world’s largest IPO at that time valued at US $21.9 billion.
2. HSBC Holding
The HSBC Holdings holds the second spot as the largest bank in the world. The total assets of this bank is $2.68 trillion. This bank is a British multinational banking and financial services company headquarted in London, United Kingdom. The blood lines of the bank lie mainly in Hong Kong and to a lesser extend in Shangai, where the branches were first opened in 1865. HSBC is developed with four business groups: Commercial Banking; Global Banking and Markets; Retail Banking and Wealth Management; and Global Private Banking. HSBC has around 6,600 offices in 80 states. It was the world’s largest bank in terms of assets
3. Duetsche Bank
Duetsche Bank is a German global bank which is ranked in the third position of world’s largest bank. Its asset is approximately $2.6 trillion. The financial services company with its home office in the Duetsche Bank Twin Towers in Frankfurt. Duetsche bank was the biggest foreign exchange dealer in the world with a market share of 21 percent. The bank provides financial products and services for institutional clients along with private and business guests. The primary services of the bank are sales, trading, research and organization of debt and equity. The Scorpio Global Private Banking Benchmark suggests that the company received 384.1 USD Bn of assets under management.
4. Credit Agricole Group
Credit Agricole Group is a banking company which is located in Germany. Sometimes this bank is also called “Green Bank” because since earlier, it is tied to agriculture. This money box is positioned in the fourth place as the world’s greatest bank. It is a French network of cooperative and mutual banks constitute 39 Credit Agricole Regional Banks. Afterward in 1990, it became an international full- service banking group. The toat asset of this bank is $2.68 trillion.
5. BNP Paribas
BNP Paribas is a French multinational bank and it is listed in the fifth rank as the largest world bank. And its entire asset is about $2.51 trillion. It was molded through the merger of Banque National de Paris(BNP) and Paribas. This bank mainly split into three as strategic business units, retail banking, corporate and investment banking and investment solutions. The main four domestic markets of BNP Paribhas are France, Italy, Belgium and Luxembourg.
6. Mistubishi UFJ Financial Group
Mitsubishi UFJ Financial Group is a Japanese bank holding company headquartered in Chiyoda Tokyo, Japan. Its total asset is around $2.49 trillion and it is one of the top companies of the Mitsubishi Group. It is one of largest financial group in Japan. This financial bank is listed as the sixth biggest bank in the world. Mistubishi UFJ Financial is the second largest public company in Japan which js measured by market capitalisation.
7. Barlays PLC
Barclays PLC is a British banking company which is headquartered in United Kingdom. It is a universal bank and the banking operations are done in retail, wholesale, and investment banking, mortage lending and credit cards. It is a world wide bank because the bank deals with more than 50 nations and territories and has around 48 million customers. The asset of the bank is approximately $2.41 trillion. It is rated as the seventh largest bank in the world.
Chase is the eighth largest bank in the world. It is a national bank that comprises the customer and commercial banking subsidary of the multinational banking corporation JPMorgan Chase. The bank is headquartered in Chicago and the total asset of the bank is approximately $2.39 trillion.
9. China Construction Bank Corp.
China Corporation Bank is ranked in the nineth positon of largest world bank. It is one of the “big four” banks in the People’s Republic of China. This money box has approximately 13, 629 branches and it maintains overseas branches with Frankfurt, Luxembourg, Hong Kong, Johannesburg, New York, Seoul, Singapore, Tokyo, Melbourne, Sydney and Auckland. Its total assets reached $2.36 trillion and it is headquartered in Xicheng District.
10. Japan Post Bank
Japan Post Bank is the tenth largest bank in the world. Japan Post Bank is a Japanese Bank headquartered in Tokyo. It was reported as the world’s largest deposit holder in November 2008. It is a slice of Japan Post Holdings postal and financial services group. The entire asset of this bank is $2.12 trillion.
Hence, these are the top most leading large banks in the whole world.