When we say the biggest bank in the world, does that sound better, too? We have shortlisted the top 05 largest banks in the world according to the S&P Global Market Intelligence Report.
Bank of China for Industry and Trade
The biggest bank in the world is the National Industrial and Commercial Bank of China. The bank has been within since 1984. As a banking service provider, it is owned by the Chinese government and corporate finance. Its financial services are particularly popular in the transportation industry, where it provides loans to companies for infrastructure projects. The bank has more than 460,000 employees in branches in Asia, Europe, and the United States. Its main office is in Beijing.
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According to The Banker, at the end of 2017, the Industrial and Commercial Banking Corporation of China was the world’s biggest bank. The following lists put the top 1,000 banks in order of their Tier-1 capital reserves, which involve common stock and retained earnings. Moreover, Chinese banks hold four of the top five spots, while China’s Agricultural and Commercial Banking Corporation knocked out Bank of America as the world’s fifth-largest. Last year, Chinese banks were the most profitable, accounting for more than a third of the world’s profits.
China Construction Bank Corporation
By assets, the Chinese Construction Bank Corporation is the world’s second-biggest bank. It has been around since 1984 and is now worth more than $3.1 trillion on the stock market. The assets and bills of all of its companies are listed in its financial report. It has the most net income of any bank in the world and the third most assets of any bank in the world. Its main office is in Beijing, which is the capital city of China. If we look around the staff members, the count is more than 300K, making this organization manageable.
Agricultural Bank of China
On the list of the biggest banks in the world, the Agricultural Bank of China is in third place. With a combined 2.28 trillion dollars in assets. As one of the world’s top banks, its headquarters is also located in Beijing, with more than 24,000 branches across China and other countries. And its reputation as the world’s biggest bank is well-deserved. The French government is extremely pleased with this global enterprise and is very happy to have it as a member of their financial system.
Japan’s Mitsubishi UFJ Financial Group
India’s commercial and industrial lender of China has the most assets of any bank in the world, making it the biggest bank in the world. The fourth and greatest bank on our list is the Mitsubishi UFJ Financial Group from Japan. The company provides several financial plus investment services for trust commercial, international finance, and other financial management services. Moreover, the company holds 106,000 employees to empower the business, and its headquarters is in the capital city of Japan, Tokyo.
The Bank of China
According to the population and industrial focus, again, an Asian bank is in 5th place in our list of the biggest banks in the world. Yes! The Bank of China, although the government no longer owns this bank but a giant investor in the country. The company is known as the 2nd largest lender in the state.
