Top 20 Largest Banks In The World

Banks are one of the most important institutions all over the world. We all know the saying, “money makes the world go round”, but without a safe and trusted place to store and facilitate the flow of huge amounts of money on a regular basis, the entire system will definitely break down in an instant. And this is where banks step into the picture.

They are considered to be one of the foundations of any financial system. Countries and entire world organizations rely on dependable and powerful banks in order to make sure that their projects and operations are smooth sailing.

On a smaller basis, the average consumer also relies on banks in order to safeguard their finances. Regardless of location or size, banks have the primary purpose of storing deposits from individuals or organizations and then organizing these collected funds in a way that they can be lent to other people who are in need of loans for whatever reason.

By managing cash flows, there are a lot of benefits as a result, such as businesses being able to run smoothly and provide for customers who are in need of their services. And the list goes on as to the importance of banks in the economy. However, there are some banks that carry more importance than the rest. Usually, this is measured by the total number of assets that a bank is in control of.

On that note, let’s look at the largest banks in the world in terms of their total assets.

20. Deutsche Bank

Deutsche Bank is one of the largest banks in the world with over $1.498 trillion in total assets. Listed as both a financial services company and an investment bank based in Germany, Deutsche Bank is one of the biggest banking institutions the world has ever seen to date.

While its centuries-old lifespan, 153 years to be exact, has seen its fair share of ups and downs, Deutsche Bank’s massive size is a testament to the quality and trust that clients have for the multinational company.

19. Societe Generale

Societe Generale is another bank which, by definition, is classified among the largest in the world. Also known as SocGen, the French-based multinational company is recorded to have at least $1.605 trillion in total assets as of 2022.

It is also another bank that is also classified as being systemically important. Being in operation for over 158 years as of this article’s writing, the huge size of Societe Generale has been an important presence in France for more than a century.

18. Postal Savings Bank of China

The Postal Savings Bank of China is documented to have at least $1.7 trillion in total assets as of 2021. With its main headquarters being located in Beijing, the heart of China, the PSBC has spread out its influence all over the country and consequently all over the world.

The huge asset reserve of the banking institution allows it to operate and provide financial services to customers of all shapes and sizes — whether it be the average Chinese citizen or businesses as well.

17. Sumitomo Mitsui Banking Corporation

The first Japanese banking company to make this list is the Sumitomo Mitsui Banking Corporation, an institution that offers banking and financial services and is held by the Sumitomo Mitsui Financial Group.

As of 2022, the total assets of SMBC have amounted to 227.96 trillion Japanese Yen or $1.753 trillion. The company is best known for its specialty in project finance and its conscious and active participation in relevant sectors such as renewable energy. SMBC also offers services in personal, corporate and investment banking.

16. Groupe BPCE

Bagging a whopping $1.768 trillion in total assets, Groupe BPCE, a French banking group established in the 21st century, is considered to be among the biggest superstars in the banking industry not only in France, but in the entire world as well.

The largest bank in Europe in terms of revenue, Groupe BPCE has earned the title of being a systemically important bank because of its huge presence in the industry and because if ever the company fails, there is a chance that an economic crisis would be triggered.

15. Japan Post Bank

Japan Post Bank, a company held by the postal and logistics giant Japan Post Holdings, is a runner-up for the giants in the banking industry with its huge total asset base of 232.92 trillion Japanese Yen or $1.793 trillion.

Initially a postal savings system during its earlier years, Japan Post Bank expanded its reach to around 24,000 branches spread across the entire Japanese region. The company is known for its financial products and services that also cater to the more rural areas in Japan.

14. Mizuho Financial Group

The Mizuho Financial Group, also known as MHFG, is a banking holding company which is based in Japan. As of 2022, MHFG is reported to have total assets amounting to 237 trillion Japanese Yen, or $1.824 trillion.

Providing services such as consumer and corporate banking, wealth management, and financial analysis — among many other offerings, MHFG is a strong contender in the race of the biggest banks all over the world. MHFG’s strongest points are its large customer base in Japan and their massive international network as well.

13. Banco Santander

Located in Spain, Banco Santander is a massive financial services company that also ranks as one of the largest all over the globe. Amassing a massive $1,833 trillion in total assets, the company is considered to be not only the largest bank in Spain but one of the largest publicly listed companies, in general, all over the world.

Thanks to its long history of providing investment, private banking, insurance, and asset management services to name a few, Banco Santander is classified as an important bank, especially to some economies which partly rely on their operations with the bank.

12. Wells Fargo & Co.

Wells Fargo is another contender in the list of the largest active banks in the world as of the moment. With $1.877 trillion in total assets, the American bank has operations in more than 30 countries all over the world with around 70 million customers being served.

Besides being included in the prestigious “Big Four Banks” group in the United States, Wells Fargo also has a reputation for its long history in the industry, 93 years to be exact. And, showing no signs of slowing down despite the long period, Wells Fargo is expected to maintain its performance for the years to come.

11. Credit Agricole

As of the latest records, Credit Agricole has around $2.192 trillion in total assets —- making it the first banking company to reach the $2 trillion mark on this list. Known to be one of the biggest banking institutions in France, Credit Agricole continues to maintain control over a huge chunk of the nation and all of its sectors.

The bank is also known for its efforts in climate financing and how it continues to be a top player in the said area. Credit Agricole also specializes in corporate and investment banking.

10. Citigroup

As of 2022, Citigroup was able to accumulate total assets amounting to $2.381 trillion. Also known as Citi, the American bank provides financial services and is considered to be a part of the illustrious ‘Big Four Banks’ group in the United States.

The company’s convenience and accessibility to most customers all over the world makes it a premier banking institution and a leader in the wealth management industry which deserves to be included in the list of the largest banks in the world.

9. BNP Paribas

Accumulating a total asset amount of $2.783 trillionBNP Paribas is another banking institution based in France that has maintained its position as one of the key players in the entire banking industry in the 2020s.

The company is widely considered to be one of the top banks in the European Union — if not, the leading contender among the group. CNP Paribas mainly focuses on three activities: Corporate Institutional Banking or CIB, Personal Banking, and Investment Services.

8. Mitsubishi UFJ

The Mitsubishi UFJ Financial Group, commonly known as just Mitsubishi UFJ, is another Japanese bank on this list that has performed well enough to accumulate trillions of dollars in total assets.

The recorded asset amount for Mitsubishi UFJ as of 2022 is 373.73 trillion Japanese Yen or $2.857 trillion. It is considered to be Japan’s largest financial group and its corresponding operations all over the country are widely accepted to be one of the most integral and dominant institutions in the entire Japanese region.

7. HSBC Holdings

HSBC Holdings is a company that most people would be familiar with. With its distinctive logo and overall branding, the inclusion of HSBC on this list is almost a no-brainer. At a record of $2.957 trillion in total assets as of the latest available data, HSBC is without a doubt one of the leading banks all over the world.

The company is classified as a universal bank that handles several financial-related activities from all departments and sectors such as asset management, credit cards, securities services, and many more.

6. Bank of America

The Bank of America, as the name implies, is a multinational investment bank headquartered in the United States with over $3.169 trillion in total assets based on the latest available data. The Bank of America also belongs to the list of the largest banking institutions in the entire nation of the United States.

The company opens its services to all individuals and businesses who wish to avail of their financial services. The Bank of America offers banking services, investment management, and many other financial and risk-related products and services.

5. JPMorgan Chase

JPMorgan Chase belongs to the elite group of the biggest banks in the United States. But, the bank is also known all over the world for its highly respected reputation as a top company in the industry — performing exceptionally well and fulfilling a variety of financial services to millions of customers worldwide.

With total assets amounting to a staggering $3.743 trillionit’s undeniable that JPMorgan Chase is not only one of the largest banks in the world but one of the most powerful and influential companies globally as well.

4. Bank of China

The Bank of China is one of the oldest and most tenured banking companies in the Chinese state. Not only considered as belonging to the group of the most massive banking institutions in the world, the Bank of China — or BOC for short — has reached outrageous heights in terms of its total asset value amount.

To date, the Bank of China has accumulated a whopping 27 trillion yuan or $3.927 trillion with the state-owned institution showing no signs of slowing down.

3. Agricultural Bank of China

Finally reaching the top 3 of this list first is the Agricultural Bank of China — with the latest records showing that the bank has accumulated a grand total of approximately 29.07 trillion yuan or $4.228 trillion.

The multinational company is among the prestigious “Big Four Banks” group which is known far and wide in the nation of China.

Headquartered in Beijing, the Agricultural Bank of China provides financial services such as insurance, banking, mortgages, and private equity offerings among many other services provided not only to their Chinese customers but to their entire global base as well.

2. China Construction Bank Corporation

Holding the second spot on the list of the largest banks is none other than the China Construction Bank Corporation or the CBC for short.

With around 30.25 trillion yuan or $4.407 trillion, the CBCB is continuing to grow day by day, and it is expected that the banking company would be a strong competitor for the spot of the largest bank in the world. Initially established for government exchanges, the CCB gradually transformed into the commercial bank it is known as today.

1. Industrial and Commercial Bank of China

The largest bank in the world is none other than the Industrial and Commercial Bank of China — or the ICBC for short. With a grand total of $5.54 trillionthe ICBC holds the title of the biggest banking institution across the globe as of date.

The state-owned commercial bank has been around for 38 years and its headquarters lie in the heart of China, in Beijing. Offering a variety of financial services, the systemically important bank continues to retain its spot as the most dominating presence in the industry.

If things continue to turn out well for the company, the trend is expected to continue for a long time.

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