Biggest Global Banks With More Than US$1 Trillion Of Assets
Banks are the backbone of the economy of a country. Some banks are bigger than the size of GDPs of most of the countries. There are 14 countries in the world with a nominal GDP of more than US$1 trillion; US, China, Japan, Germany, UK, France, India, Italy, Brazil, Canada, South Korea, Russia, Australia, Spain, and Mexico. Trillion dollar economy. But, there are more than 25 international banks with total assets of more than US$1 trillion.
9. Bank of America Corporation
Chinese banks are dominating the top list.
Biggest Global Banks With More Than US$1 Trillion Of Assets
1. Industrial and Commercial Bank of China Limited
Total Assets: RMB25514046 Million = US$3892243.49 Million = US$3.89 Trillion
About: Industrial and Commercial Bank of China was established on 1 January 1984. On 28 October 2005, the Bank was wholly restructured to a joint-stock limited company. On 27 October 2006, the Bank was successfully listed on both Shanghai Stock Exchange and Stock Exchange of Hong Kong Limited.
2. China Construction Bank Corporation
Total Assets: RMB21.69 Trillion = US$3.31 Trillion
About: China Construction Bank Corporation, headquartered in Beijing, is a large-scale joint stock commercial bank lending in China. Its predecessor China Construction Bank was established in October 1954. It was listed on Hong Kong Stock Exchange in October 2005(stock code: 939) and the Shanghai Stock Exchange in September 2007 (stock code: 601939).
3. Agricultural Bank of China Limited
Total Assets: RMB20573586 Million = US$3138561.65 Million = US$3.14 Trillion
About: The predecessor of the Bank was Agricultural Cooperative Bank established in 1951. Since the late 1970s, the Bank has evolved from a state-owned specialized bank to a wholly state-owned commercial bank and subsequently a state-controlled commercial bank. The Bank was restructured into a joint stock limited liability company in January 2009. In July 2010, the Bank was listed on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange.
4. Bank of China
Total Assets: RMB19425980 Million = US$2963490.94 Million = US$2.96 Trillion
About: Bank of China was formally established in February 1912 following the approval of Dr. Sun Yat-sen. From 1912 to 1949, the Bank served consecutively as the country’s central bank, international exchange bank, and specialized international trade bank. The Bank was listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange in June and July 2006 respectively, becoming the first Chinese commercial bank to launch an A-Share and H-Share initial public offering and achieve a dual listing in both markets.
5. Mitsubishi UFJ Financial Group, Inc.
Total Assets: JPY304221.6 Billion = US$2753.51 Billion = US$2.75 Trillion
About: MUFG manages the affairs of its subsidiaries within the group and the business of the group as a whole along with all relevant ancillary business. In 2000, the basic agreement reached on the integration of Bank of Tokyo-Mitsubishi, Mitsubishi Trust Bank and Nippon Trust Bank through the establishment of a holding company. The basic agreement reached on the integration of Sanwa Bank, Tokai Bank and Toyo Trust Bank through the establishment of UFJ Holdings. In 2004, it was announced the commencement of discussions on the integration of Mitsubishi Tokyo Financial Group and UFJ Group. In 2006, delisting of shares from the London Stock Exchange. In 2010, the creation of Mitsubishi UFJ Securities Holdings.
6. JPMorgan Chase & Co.
Total Assets: US$2.6 Trillion
About: The firm is built on the foundation of more than 1,200 predecessor institutions that have come together through the years to form today's company. The Bank traces its roots to 1799 in New York City, and our many well-known heritage firms include J.P. Morgan & Co., The Chase Manhattan Bank, Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicago, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, Cazenove Group and the business acquired in the WaMu transaction. Each of these firms, in its time, was closely tied to innovations in finance and the growth of the U.S. and global economies.
7. HSBC Bank plc
Total Assets: US$2492 Billion = US$2.49 Trillion
About: The Hongkong and Shanghai Banking Corporation Limited opened in Hong Kong on 3 March 1865 and in Shanghai one month later. Listed on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by more than 203,000 shareholders in 132 countries and territories. HSBC was established in 1865 to finance trade between Europe and Asia. For over 150 years we have connected customers to opportunities. We enable businesses to thrive and economies to prosper, helping people to realize their ambitions.
8. BNP Paribas SA
Total Assets: EUR2142961 Million = US$ 2552770.15 Million = US$2.55 Trillion
About: The story of BNP Paribas dates back to the 19th century when the banks that would eventually form the Group first opened and expanded. Fueled by Europe’s extraordinary industrial growth, the banks were able to set aside enough savings to finance crucial economic development. From its early beginnings to the present day, the Group’s evolution offers an opportunity to explore two centuries of banking history, in addition to that of Europe and the world as a whole.
9. Bank of America Corporation
Total Assets: US$2.25 Trillion
About: The Bank’s roots, from 1784 to 1850, are set in stories of its earliest heritage members and their roles in the evolution of a young United States. Learn about the making of the national anthem, the survival of its capital through the War of 1812, the discovery of comets, building a foundation for economic growth and more. As of June 30, 2017, the bank operated in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Its retail banking footprint covers approximately 80 percent of the U.S. population, and it serves approximately 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and leading online and mobile banking platforms with approximately 34 million active accounts and more than 23 million mobile active users.
10. Wells Fargo & Company
Total Assets: US$1.8 Trillion
About: Founded on March 18, 1852, the name Wells Fargo is forever linked with the image of a six-horse stagecoach thundering across the American West, loaded with gold. The full history, over more than 160 years, is rich in detail with great events in America’s history. From the Gold Rush to the early 20th Century, through prosperity, depression, and war, Wells Fargo earned a reputation of trust due to its attention and loyalty to customers. In 1852, Henry Wells and William Fargo founded Wells, Fargo & Co. to serve the West. The new company offered banking (buying gold and selling paper bank drafts as good as gold) and express (rapid delivery of the gold and anything else valuable).
11. Credit Agricole SA
Total Assets: US$1.85 Trillion
About: The offices of the Société de Crédit Agricole de l’arrondissement de Poligny in Salins (Jura), founded in 1885. The building now houses the Fondation Maison de Salins, a foundation devoted to promoting cooperative endeavors. The government passed legislation in 1988 allowing the Crédit Agricole Regional Banks to buy CNCA. Transformed into a limited company, the bank was now completely independent of the State. It was listed on the stock market in 2001 and rechristened itself Crédit Agricole SA.
12. Japan Post Bank Co., Ltd
Total Assets: US$1.9 Trillion
About: Postal savings was introduced to Japan in 1875 and operated as a government department until privatization of the postal service was passed under the government of Prime Minister Junichiro Koizumi. The bank was established on 1 September 2006, as part of the reorganization of Japan Post into Japan Post Holdings.
13. Citigroup Inc.
Total Assets: US$1.86 Trillion
About: Citigroup was formed on October 9, 1998, following the $140 billion mergers of Citicorp and Travelers Group to create the world's largest financial services organization. The history of the company is, thus, divided into the workings of several firms that over time amalgamated into Citicorp, a multinational banking corporation operating in more than 100 countries; or Travelers Group, whose businesses covered credit services, consumer finance, brokerage, and insurance. As such, the company history dates back to the founding of the City Bank of New York (later Citibank) in 1812; Bank Handlowy in 1870; Smith Barney in 1873, Banamex in 1884; Salomon Brothers in 1910.
14. Mizuho Financial Group, Inc.
Total Assets: US$1.81 Trillion
About: Mizuho traces its roots to three of Japan’s oldest banks—Dai–Ichi Bank (Dai–Ichi Kangyo Bank), Yasuda Bank (Fuji Bank), and the Industrial Bank of Japan. Beginning as far back as 1873, these financial institutions helped build and rebuild Japan during the early modern and post–WW2 eras and laid the foundations for Japan’s financial leadership in the 21st century. We also inherit the spirit of the leaders of these banks—three key Japanese bankers who played a pivotal role in the development of the Japanese financial industry: Eiichi Shibusawa, Zenjiro Yasuda, and Sohei Nakayama. These men advocated a pioneering and socially responsible approach to financial services that continue to make Mizuho one of the world’s top financial institutions today. In 2002, Dai–Ichi Kangyo Bank, Fuji Bank, and the Industrial Bank of Japan merged to form the Mizuho Financial Group.
15. Deutsche Bank AG
Total Assets: US$1.87 Trillion
About: When Deutsche Bank started the business on 9 April 1870 its first office was at 21 Französische Strasse in Berlin, on the first floor of a rather ordinary-looking building. In 1945, after 75 years in business, Deutsche Bank stood on the verge of ruin. The postwar period was a time of crucial decisions in the field of banking. In 2001, Deutsche Bank's share is listed on New York Stock Exchange.
Others:
Sumitomo Mitsui Financial Group, Japan- US$1.65 trillion
Barclays, UK- US$1.50 trillion
Societe Generale, France- US$1.45 trillion
Banco Santander, Spain- US$1.41 trillion
Groupe BPCE, France- US$1.30 trillion
Bank of Communications, China- US$1.21 trillion
Postal Savings Bank of China, China- US$1.19 trillion
Lloyds Banking Group, UK- US$1.01 trillion
The Royal Bank of Scotland
Comments
Post a Comment