The 10 Largest Banks in the World

Although signs of recovery appear to be on the horizon, the financial crisis continues to plague the global banking system.  Banks are being shut down on a regular basis and interest rates continue to fall, making it harder and harder to find a reliable and trustworthy bank, that also has a high savings account rate.

As shown below, European banks have appeared to fare better than their American counterparts. Below are the world’s ten largest banks, determined by the amount of assets and a description of each.

BNP Paribas (BNP) – This French bank comes in at No. 1 with $2.96 trillion in assets.  BNP is one of the largest global banking networks in the world with operations in 84 countries.  BNP has four domestic retail banking markets located in France, Italy, Belgium and Luxembourg.  In April 2009, as a result of BNP’s 75% purchase of Fortis Bank, the Belgian bank is now the largest Eurozone deposit holder.

Royal Bank of Scotland (RBS) Group – RBS Group ranks as the number two bank in terms of assets held. Currently, the British government is the largest owner of the bank.  As a result of severe losses and the conditions of a government backed bailout, RBS Group has halted dividend payments. RBS Group is the largest banking group in Scotland and operates a wide variety of banking brands including personal and business banking, private banking, insurance and corporate finance throughout its operations located in Europe, North America and Asia.  As of May 2010, RBS Group had $2.75 trillion in assets.

Barclays PLC (Barclay’s) – Barclays, with $2.23 trillion in assets, is a British financial services firm operating worldwide. It is a holding company listed on the London and New York Stock exchanges, is a component of the FTSE 100 Index and until 2008 was also listed on the Tokyo Stock Exchange. Barclays operates through branches, offices and subsidiaries in the United Kingdom and overseas and provides retail banking, credit card, corporate and investment banking and wealth management services. Its two major business groups are: Global Retailing and Commercial Banking, and Investment Banking and Investment Management.

Deutsche Bank – Deutsche Bank, the largest German bank with $2.16 trillion in assets, has a strong presence throughout Germany and Europe and continues to grow in North America and Asia. As of March 31, 2010, Deutsche Bank had approximately 2,000 branches in 72 countries.

 

HSBC Bank – HSBC Bank has more than 460 bank branches throughout the United States, with the majority (380) in New York State. Coming in at number 5 on our list of the biggest banks with $2.36 trillion in assets, HSBC offers its 4 million customers access to global markets through its personal financial services, private banking, retail banking, commercial banking and global banking and market segments.

Credit Agricole – The second and final French bank on the top 10 list with $2.24 trillion in assets, Credit Agricole is a retail banking leader in France and throughout Europe. It is part of the CAC 40, a benchmark French stock market index. It has 11,500 branches throughout the world, more than 160,000 employees and 59 million customers in 70 countries.

Bank of America (BAC) – BAC is the largest bank holding company in the United States, by assets, with $2.22 trillion. The company serves clients all over the world and has a relationship with 99% of the U.S. Fortune 500 companies. In 2008, BAC acquired Merrill Lynch making it the world’s largest wealth manager.  It is listed on the New York Stock Exchange (NYSE) and is part of the S&P 500 Index and the Dow Jones Industrial Average.

Mitsubishi UFJ Financial Group (Mitsubishi) – With $2.20 trillion in assets, Mitsubishi is Japan’s largest bank holding/financial services group. Part of the Mitsubishi Corporation, the company provides a wide variety of financial and investment services including commercial banking, trust banking, international finance, and assets management services.

J.P. Morgan Chase – One of the two so-called “too big to fail” banks, along with Bank of America, J.P. Morgan Chase is the 10th largest bank in the world with $2.03 trillion in assets. The company provides products and services to its clients in 100 countries including asset management, investment banking, private banking, treasury and securities services, and commercial banking. J.P. Morgan Chase is traded on the NYSE under ticker symbol JPM.

CitiGroup – Rounding out the top ten banks in the world by asset type is CitiGroup with $1.86 trillion in assets. CitiGroup is compiled of many different banking sectors, including credit cards, mortgages and deposits and are headquartered in the Big Apple.

So there are 10 largest banks in the world. But of course, bigger is not always better. So if you are looking for banks with the best interest rates, check out these options:


Topics: Banking

42 Responses to “The 10 Largest Banks in the World”

    • Observer

      JP Morgan Chase is likely not to be on this list much longer
      when they finish sorting out the Madoff Swindle.

      That this bank just got a $136,000,000 judgment against
      them is an indication that they believe in dishonesty at
      the highest levels.

      The Madoff Swindle which is still before the courts
      is a Four Billion Dollar Claim…..

      If you look behind the scenes and find some of the
      other ways this bank can swindle it’s account holders
      you will likely find fraudulent charges and rigged
      computer programs…….

      A sad day for the good name of a man who made
      banking history in the United States

  1. Wow! What a difference 20 years make! Only 2 of the top 10 were foreign back then – now it’s hard to find one in there. Guess that goes to show how boutique investing/banking and the lack of savings have come about to hurt America’s standing over all.

  2. I’m pretty sure the Japanese were dominating in 1990 (Japan held the top 5 spots back then). In fact US banks began to decline in terms of relative size to rest of world’s banks in the late 1950s.

  3. These are “considered by U.S. sources” the 10 largests banks maybe, but not the world if you consider trust holding side banks. Having had first hand experience of transactions involving hundreds of world banks, these are not the 10 largests banks of the world. Citibank is about the 100th largest bank in the world.

  4. likedragon

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  5. No wonder Banks are in trouble… Just look at the assets!
    The race of banks and other financial institutions to build up balance sheets and short term profits, a miscalculation of the risks involved and the arguably loose financial oversight framework meant that Banks were at the highest risk of collapsing first. The recent financial crisis was the epitome of several factors and choices that led the whole financial sector and the world economy beyond a point of no return….
    Globalization and the established economic links made worldwide contagion inevitable. After the bust, the challenge in global financial markets and especially banks is deleveraging as well as renewed scrutiny by regulatory authorities of several market practices. U.S. Commodity Futures Trading Commission has recently established (2010) new rules to protect financial transactions, banks and trading. The new rules demand larger capital requirements lower leverage. Japan already introduced similar rules this past August. The new financial legislation acknowledges that extreme leverage levels are uniquely speculative and can pose significant risks to all kind of investors. Like the wise man said “Greed is nor Good nor smart…the industry itself should rethink offered leverage levels rather than wait for regulation to impose caps”.

    • torren

      They also loan us money, invest in business, give us credit and overdrafts so we can spend their money. Look after our finances, help it to grow, while giving us interest and they give us morgages so we can improve our living standards.

      Sure they are evil but they are fundemental to our society.

      • robert

        actually the banks should be alowed to fail and governments should then cover savings only! sell off assets to claw back the money put in to cover the savings then leave say a couple of million businesses, mortgagees ect.. debt free and able to spend more cash in real terms in the remaining businesses! only losers then are the bankers themselves!

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  7. michelle calimlim manlincon

    the “HEART of the CENTER” in the “MANAGEMENT” is “HONEST AND PRAY”, credit written by michelle calimlim manlincon

    why we encountered the global economy crisis….and the banks were affected
    1. population growth vs. new technology, but we need to have the balance continue the innovation to all of us, especially in the PRODUCTION MAN’S NEED.
    2. calamity (tragedy)
    3. robbery
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    5. credit cards – who does not pay

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  8. One other reason why non US banks are dominating the list is because the US has so many banks that are smaller. All of these other countries only have a few banks which makes their assets much greater. If Bank of America, Chase, Citi, Wachovia/WellsFargo had 90% market share in the US they would be the largest 4 banks on earth. Not to mention that the European Banks and other foreign banks have such a large US presence also whereas US banks presence in other countries aren’t as saturated as they are here. Regarding Bank of China with 7 trillion in assets. Its not really a bank its a communist govt. banks under total govt. control.

  9. Steven Montes

    Re: Read Carefully
    From:
    Nick Treble
    “Nick Treble”@omr11.networksolutionsemail.com
    To:

    Bcc: [email protected]
    Date:
    Wed, Feb 3, 2010 5:23 am
    Dear Partner,

    I hope this mail meets you in good time. However strange or surprising this contact might seem to you as we have not meet personally or had any dealings in the past, I humbly ask that you take due consideration of
    its importance and immense benefit. Presently, we are conducting a standard process investigation on behalf of “AIB Group the International Banking conglomerate. This investigation involves a client and the
    circumstances surrounding investments made by this client at “AIB Group”, the Private Banking arm of
    Allied Irish Bank. I would respectfully request that you keep the contents of this mail private and respect
    the integrity of the information you come by as a result of this mail.

    I contacted you independently of my private investigation and no one is informed of this communication.
    You share similar surname with the deceased customer, as such I am prepared to place you in a position to instruct my bank to release the deposit to you as the closest surviving relation. That is, I will simply nominate you as the next of kin and have them release the deposit to you as the beneficiary.

    I would have gone ahead and transfer the funds secretly to my private offshore account, but that would have drawn a straight line to me and my involvement in claiming the deposit. On the other hand, you as a
    foreigner stand a better chance to easily surpass, as the beneficiary to the fund.

    This transaction will be executed under a legitimate arrangement that will protect you from any breach of the law. If you are ready to work with me, I assure you that I could have the deposit released to you within the next few days. Upon receipt of the deposit, we shall share the proceeds in halves. There is a reward for this project and it is a task well worth undertaking. If we can be of one accord
    base on mutual consent, I shall initiate this process towards a swift conclusion.

    Thank you,

    Nick Treble
    Chief Risk Officer
    AIB GROUP

    • FPBSTFMBR

      I don’t actually expect a Risk Officer to send such a mediocre letter riddled with poor grammar. This article concerns banks and not some nonsensical pseudo-secretive “mail” .

  10. Steven Montes

    Re: Read Carefully
    From:
    Nick Treble
    “Nick Treble”@omr11.networksolutionsemail.com
    To:

    Bcc: [email protected]
    Date:
    Wed, Feb 3, 2010 5:23 am
    Dear Partner,

    I hope this mail meets you in good time. However strange or surprising this contact might seem to you as we have not meet personally or had any dealings in the past, I humbly ask that you take due consideration of
    its importance and immense benefit. Presently, we are conducting a standard process investigation on behalf of “AIB Group the International Banking conglomerate. This investigation involves a client and the
    circumstances surrounding investments made by this client at “AIB Group”, the Private Banking arm of
    Allied Irish Bank. I would respectfully request that you keep the contents of this mail private and respect
    the integrity of the information you come by as a result of this mail.

    I contacted you independently of my private investigation and no one is informed of this communication.
    You share similar surname with the deceased customer, as such I am prepared to place you in a position to instruct my bank to release the deposit to you as the closest surviving relation. That is, I will simply nominate you as the next of kin and have them release the deposit to you as the beneficiary.

    I would have gone ahead and transfer the funds secretly to my private offshore account, but that would have drawn a straight line to me and my involvement in claiming the deposit. On the other hand, you as a
    foreigner stand a better chance to easily surpass, as the beneficiary to the fund.

    This transaction will be executed under a legitimate arrangement that will protect you from any breach of the law. If you are ready to work with me, I assure you that I could have the deposit released to you within the next few days. Upon receipt of the deposit, we shall share the proceeds in halves. There is a reward for this project and it is a task well worth undertaking. If we can be of one accord base on mutual consent, I shall initiate this process towards a swift conclusion.

    Thank you,

    Nick Treble
    Chief Risk Officer
    AIB GROUP

  11. Bhargav

    Its interesting that WORLD’s BIGGEST BANK is in china ICBC bank’s announced that bank’s total assets have reached 12.5 trillion as of the end of March, 2010.
    ICBC bank = BNP Paribas+RBS+Barclays PLC+Deutsche that is not all it will still be left with 1.33 Trillion $$$$$$$$$$$$.

  12. I never understood HSBC… It’s acronym is of HongKong Shanghai Banking Corporation…yet It’s headquarters are in London and is also listed on the FTSE100, is this a British bank then???

    • torren

      It’s history is quite complex, it was founded in London as HSBC holdings just 20 years ago, however the Hong Kong Shanghai Banking Corp is over a 100 years old and was of course based in China. It became HSBC Holdings plc to allow it to buy the UK based Midland Bank (one of our biggest banks in the 20th century) helping it to grow to become the international banking corporation it is today.

      HSBC is the largest bank in Hong Kong and has branches across China and Asia.

  13. Look at this crap. All these banks are too big to fail. Talk about a cartel of banks and no free market. These banks need to be broken down for fair competition. You can’t have only a handful of banks control most of the world’s assets. Thats how US got into this mess.These banks would never be this big without government backing. Need to end this fascist banking cartel.

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  15. I’M SURE THAT IN THE NEAREST FUTURE ARAB BANKS WILL FIND THEIR PLACES BETWEEN THESE HUGE BANKS AFTER COLLECTING AND ASSEMBLING ARABIC NATIONS WEALTH’S FROM ALL OVER THE WORLD …………….
    THIS IS ONE OF OUR IMPORTANT REVOLUTION OBJECTIVES TO ACHIEVE , SURELY THE HELP AND COOPERATION OF THESE BANKS ARE VERY IMPORTANT TO INDICATE US FOR STOLEN OR HIDDEN WEALTH DEPOSIT BY OUR TERRORISTS LEADERS , PRESIDENTS OR KINGS ……………..

  16. Shreyas

    Hello,
    Can anyone recommend a good bank in INDIA for current account.
    I often receive wires from different different countries. I already have account in HDFC bank, but as they don’t have many branches around the globe, money/ wire amount comes with deductions.

    Per transaction they deducts around 3- 5K which is insane.

    Please help!

    Thanks

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