May 20, 2020

TOP 20 Largest World Banks in 2020 by Total Assets

TOP 20 Largest World Banks in 2020 by Total Assets

Introducing the world’s TOP 20 largest banks as of 20 May 2020.

The ranking of the biggest banks is built according to banks’ total assets. Read more about this index at the end of the article.

Different banks from China have taken the top spot for several years in a row. That is quite logical, taking into consideration the annual economy and the trade surplus of the Heavenly Empire.

Thereby, the first place is taken by…

#1

Industrial and Commercial Bank of China (ICBC)

Assets: $4,322 bln.
ICBC

Country: China.

The largest and richest bank in the world is the Industrial and Commercial Bank of China (ICBC).

It is one of the “BIG FOUR” of the Heavenly Empire and controls almost 1/5 of all banking in China.

ICBC has $4,322 billion total assets according to the latest data, and its market capitalization totals $424 billion.

The Bank was founded in 1984 and now has more than 450,000 employees.

ICBC’s headquarters are located in Peking. And over 70% of the bank are government-owned.

#2

China Construction Bank Corporation

Assets: $3,822 bln.
China Construction Bank Corporation

Country: China.

The second in this ranking and the second bank of china by “size” was founded in 1954 and now is called “China Construction Bank” (CCB).

According to the latest data, it has $3,822 billion in assets, and its market capitalization totals more than $204 billion.

Originally, CCB was created for government exchanges, and only later, it was redeveloped into the commercial bank.

The company operates more than 14,000 branches all around the globe, with about 372,000 employees.

#3

Agricultural Bank of China

Assets: $3,698 bln.
Agricultural Bank of China

Country: China.

The ABoC was founded in 1951 by Mao Zedong to help collective farms, peasants, and workers.

Currently, this bank entrenched with financial and commercial corporations of China and the whole world.

The headquarters are also located in Peking, and ABoC has nearly 24,000 representatives in the country and abroad.

Total assets of the Agricultural Bank of China comprise more than $3,698 billion, and according to the latest data, its market capitalization is $147 bln.

#4

Bank of China ltd

Assets: $3,387 bln.
Bank of China ltd

Country: China.

The Bank of China is one of the oldest and most reliable banks in China. It was created in 1912 and still leads in the national banking sector.

Over 70% of the company belongs to the Chinese government, and it has offices in over 20 countries.

According to the data, its assets are near $3,387 billion, and its market capitalization is about $113 bln.

#5

JPMorgan Chase

Assets: $3,139 bln.
JPMorgan Chase

Country: USA.

JPMorgan Chase is one of the most eminent and popular US banks.

This company was created in 2000 as a result of merging several huge banks.

JPMorgan Chase HQ is located in Manhattan, New York City. It is one of the largest investment companies in the world.

Now its assets total $3,139 bln, and its market capitalization is over $292 bln, which also makes it one of the most expensive companies in the world.

#6

HSBC Holdings plc

Assets: $2,918 bln.
HSBC Holdings plc

Country: Great Britain (England).

London's HSBC is one of the biggest banks in Europe, totaling $2.92 tln. in assets.

Originally, the purpose of its creation was to perform exchanges between Europe and China, and it still stays crucial in such actions.

It also has more than 10 subsidiaries, which perform all possible operations inside this sector.

#7

Mitsubishi UFJ Financial Group

Assets: $2,893 bln.
Mitsubishi UFJ Financial Group

Country: Japan.

This Japanese holding company has $2.89 tln. in assets, which makes it one of the "best" banks in Japan.

MUFG’s department network spread all around the world allows MUFG to perform in 40 different countries.

The company was created in 2005 by the merger of the two largest banks of Japan, and its headquarter is located in Osaka City.

#8

Bank of America (BoA)

Assets: $2,620 bln.
Bank of America (BoA)

Country: USA.

The BoA is the second largest bank in the USA. It has an extensive range of financial services in the whole country and abroad.

The headquarters are located in Charlotte City, North Carolina.

According to the latest data, the BoA balance sheet has $2,620 bln. assets and its market capitalization is about $209 bln.

#9

BNP Paribas

Assets: $2,430 bln.
BNP Paribas

Country: France.

BNP Paribas was created in 1999, and now it tops the financial, banking, and insurance rankings. Currently, the company has representatives all around the globe, and its headquarters are located in Geneva, Paris, and London.

Its assets compound to $2,336 bln and the bank has $39 bln of market capitalization.

10

Crédit Agricole

Assets: $1,984 bln.
Crédit Agricole

Country: France.

The French bank Crédit Agricole ends the list of TOP 10 of the biggest world banks. It has a balance of $1,984 bln. in assets.

Crédit Agricole is one of the largest companies in France, which successfully controls a large part of the banking sector inside the country.

No. 11 — 20 biggest banks

Banks, which can break into the rating of the top 10 largest banks at any time.

# Bank Country Assets
11 Citigroup USA $1,917 bln.
12 Japan Post Bank Japan $1,911 bln.
13 Wells Fargo USA $1,896 bln.
14 Sumitomo Mitsui Financial Group Japan $1,848 bln.
15 Mizuho Financial Group Japan $1,838 bln.
16 Banco Santander Spain $1,671 bln.
17 Deutsche Bank Germany $1,544 bln.
18 Societe Generale France $1,485 bln.
19 Groupe BPCE France $1,463 bln.
20 Barclays England $1,444 bln.

*Some data can be inaccurate, given the absence or limited access to reports issue during the last periods.

TOP 100 World Banks by country

The list of countries by the total number of banks in the "top 100 by total assets".

Rank Country Number of Banks in TOP 100
European Union 34
1 China 18
2 United States 12
3 Japan 8
4 France 6
United Kingdom 6
South Korea 6
5 Canada 5
Germany 5
Spain 5
6 Australia 4
Brazil 4
7 Sweden 3
Netherlands 3
Singapore 3
8 Italy 2
Switzerland 2
9 Austria 1
Belgium 1
Denmark 1
Finland 1
India 1
Norway 1
Russia 1
Taiwan 1

On what criteria are the rankings based

Annually, rating agencies, analysts, and financial companies compound ratings of the most reliable, profitable, and successful global bank corporations.

However, filter settings to find the largest world bank are quite specific. That is because rankings made by different parameters and the same bank can lead by one criterion and be out by another at the same time.

Total assets sum is the total value of all financial units regarding a company’s property, as well as financial capital, which consists of own corporation resources, investor assets, interbank credits and assets received from bond issues. Such ranking is built according to the sum of the total assets of a bank, as explained above.

Market Capitalization  is the cumulative value of a company, including all subsidiaries and commercial assets. The corporate market capitalization is calculated from the stock exchange price of its shares.

Other very important banking gauges are operational and clear profits, total turnover, and the number of its outlets and employees.