HomeBusiness/EconomyThe Biggest Banks In The World 2024

The Biggest Banks In The World 2024

Banks are financial institutions that provide a variety of services and goods, such as managing deposits, lending, managing wealth, and exchanging currencies. These banks serve consumers who are both individuals and corporations as well as other institutional clientele. The concept of a commercial bank has drastically changed during the previous few decades.

Large banks provide their clients with a wide range of services, such as certificates, deposits, loans, checking and savings accounts, and other comparable products. Numerous banks also possess investment banking firms.

They provide brokerage, financial advising, and underwriting for stock offers to institutional and corporate clients. Here are the top 10 banks in the world according to market cap, assets, founding year, etc.

Top 10 Biggest Banks In The World 2024

1. Industrial and Commercial Bank of China, ICBC

1 January 1984 – Founded
Headquarters: China, PRC.
Number of employees:4,53,048 (2018)
Market cap $246.5 billion
Total assets: $4.614 billion

One of the top 10 banks in the world, Industrial and Commercial Bank of China Limited, offers financial services. In addition to loans, deposits, foreign currency settlement, fund underwriting, and loan processing, the organization also provides other services. The Industrial and Commercial Bank of China serves all kinds of customers, including people and companies.

The Industrial and Commercial Bank of China (ICBC) is China’s largest bank in terms of total assets. The Industrial and Commercial Bank of China (ICBC) had 33.3 trillion Yuan in total assets as of 2020.

2. JPMorgan Chase & Co. (JPM)

Head: Jamie Dimon
Headquarters: United States
Year founded: 1 December 2000
Market Cap: $488.4 Billion
Total assets $3,684 Billion
JPMorgan Chase & Co. is headquartered in New York, USA. It is a holding corporation for financial services with headquarters in the US. The largest bank by assets in the US is JPMorgan Chase & Co.
The corporation provides consumer banking, investment banking, and commercial banking services to people, companies, governments, and institutions all around the world.

3. Japan Post Holdings Co. Ltd

$112.3B in revenue
Income: $4.7 billion
$34.4 billion market cap
-28.3% is the 1-year trailing total rate of return.
OTC Markets
Of all the businesses on this list, Japan Post Holdings Co. Ltd. stands out. It operates in a variety of industries, including logistics, life insurance, and banking. It is well-known for its branch of Japan Post, which maintains post offices and conducts mail delivery in Japan.

4. China Construction Bank Corp [CICHY]

Revenue: $102.2B
Net Income: $38.7B
Market Cap: $196.6B
1-Year Trailing Total Rate of Return: -3.7%
OTC Exchange

China Construction Bank Corp. is the second-largest Chinese bank. Corporate banking services are offered by China Construction Bank Corp., including e-banking, credit lines, and other forms of personal loan shells.

Through a different organization, China Construction Bank provides personal banking services. Personal loans, deposits, credit cards, and financial services like wealth management are all included in this.

5. Bank of America Corporation [BAC]

Headquarters: United States of America
Revenue: 85.52 billion USD
Employees:2,13,000
Market Cap: 279.2 billion USD
Total assets: 2,820 billion USD
The Bank of America Corporation is a US-based global investment bank and financial services holding corporation that ranks among the top 10 banks in the world. The company’s main office is in Charlotte, North Carolina.

The bank was founded in San Francisco in 1998 as a result of NationsBank buying BankAmerica. It is the ninth-largest bank in the world and the second-largest in the United States. One of the Four Big Financial Institutions in the United States is Bank of America.

6. Agricultural Bank of China Ltd. [ACGBY]

Revenue (TTM: $89.7B)
TTM: Net Income of $30.9B
Market Cap: $131.5B
1-Year Trailing Total Rate of Return: -14.1%
OTC Exchange

Personal and business banking services are offered by the government-owned Agricultural Bank of China. But it also provides a distinctive range of items for agricultural clients, including little-known farmers and bigger distributors.

7. Crédit Agricole SA [CRARY]

Headquarters: Montrouge, France
Head: Philippe Brassac
Founded on: 5 November 1894
Market Capitalization: $52.1 Billion
Total assets worth: $2,278 Billion
One of the top 10 banks in the world is the Credit Agricole Group. The French economy’s biggest financial backer is it. In terms of total assets, it ranks as the tenth-largest bank.

It has 142 000 employees, serves 48 countries, and has 52 million customers worldwide. Since 1990, Credit Agricole has expanded to become a global full-service bank.

8. Wells Fargo & Co. [WFC]

Revenue (TTM: $82.0B)
Net Income (TTM: $19.6B)
Market Capital: $123.8B
1-Year Trailing Total Rate of Return: -35.4%
Exchange enlisted: New York, NYSE
According to Forbes, the bank was ranked number 15 in the world, second in global revenues and earnings, and first in France, according to Fortune magazine, with a 28% industry share.
Wells Fargo offers both private citizens and businesses a range of financial services. The business has been embroiled in a scandal involving false accounts that has a larger consumer base. In reality, Wells Fargo just received a $ 3 billion fine from the US government as part of continuing investigations.

9. Bank Of China Ltd. [BACHF]

Headquarters: China
Founded by: Chen Jintao
Founded on: 5 February 1912
3,11,000 employees in service
Market capitalization: $181.4 billion
Total asset worth: $4.073 billion
One of China’s top ten commercial banks and largest state-owned banks is The Bank of China. Even though Bank of China and Bank of China are legally separate organizations, they work closely together in several areas, including the resale of BOC’s securities and insurance services.

The Bank of China, the oldest and biggest financial institution in China, is a trustworthy organization. It was founded in 1912 and continues to dominate China’s national banking sector.

10. Citigroup Incorporated

Revenue (TTM: $74.3B)
Net Income (TTM: $19.4B)
Market Capitalization: $91.9B
1-Year Trailing Total Rate of Return: -25.9%
New York, NYSE: Enlisted Exchange

Global financial services company Citigroup. Citibank’s retail banking division is headquartered in Sioux Falls, South Dakota. Over 1,800 branches of Citibank are located outside of the United States, where there are about 700. Customers from the United States have free access to more than 65,000 ATMs.

Must Read

CATEGORIES

0
Would love your thoughts, please comment.x
()
x