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Top Ten Largest Banks in the World

Combined the top ten biggest banks in the world account for more than $25 trillion in combined assets, or essentially 1/4 of the world’s net annual economic output. It is no wonder then, how banks influence the economy in the way they are do. Banks were both the victims and the culprits of the 2007-2009 worldwide economic collapse. Banks must play a careful game when supplying loans. If they supply them too easily they risk default, but if they don’t supply enough they will hinder their profits and economic growth of the demographics they serve. Here are the top ten largest banks in the world:

10

Bank of America

Assets: $2.12 trillion

Country: United States

Up until 2011, Bank of America was the largest bank in the United States until it was surpassed by JPMorgan Chase. It is headquartered in Charlotte, North Carolina, but its presence is felt in more than 150 countries around the world. As of 2012, it is estimated Bank of America holds roughly 12.2% of all bank deposits in the country. Bank of America has 5,600 branch locations, operates 16,200 ATMs and serves 57 million customers around the world. Nearly 260,000 employees work for Bank of America.

9

JPMorgan Chase

Assets: $2.26 trillion

Country: United States

JPMorgan Chase is the largest bank in the Untied States. It is headquartered in Manhattan in New York City. JPMorgan Chase, together with Wells Fargo, Bank of America, and Citigroup are referred to as the Big Four Banks of the United States. It is also one of the biggest banks int he world in terms of employees. Globally, JPMorgan Chase employs more than 258,000 people.

8

Royal Bank of Scotland

Assets: $2.32 trillion

Country: United Kingdom

The Royal Bank of Scotland has around 700 branches throughout Scotland, England, and Wales. The bank was founded in 1727 in Edinburgh, Scotland. Fascinatingly, up until the middle of the 19th century, the Royal Bank of Scotland was allowed to issues their own banknotes and circulated freely as a means of payment.

7

Barclays Group

Assets: $2.43 trillion

Country: United Kingdom

Barclays has operations in more than 50 countries around the world and serves 48 million customers. It is also one of the oldest banks in the world. It was originally founded in London in 1690 where it still is headquartered today. It is currently the 22 largest company in the world and employs 150,000 individuals. A lot of people are familiar with them after they purchased the naming rights of the new NBA basketball arena in Brooklyn, New York called the Barclays Center.

6

Credit Agricole

Assets: $2.43 trillion

Country: France

With more than 161,000 employees, Credit Agricole is one of the largest employers in all of France. The bank is the largest retail banking group in all of France and is the second largest in Europe. The bank itself is majority owned by 39 French co-op retail banks. In 2010, the bank was at the center of controversy when it was fined Credit Agricole for colluding to charge unjustified fees on check processing.

5

Mitsubishi UFJ Financial Group

Assets: $2.44 trillion

Country: Japan

Better known as MUFG, Mitsubishi UFJ Financial Group is by far the largest bank in Japan. It was founded October 1, 2005 as a result of a merger and is headquartered in Chiyoda, Japan. MUFG employs more than 80,000 employees and is one of the largest companies in Japan.

4

Industrial and Commercial Bank of China

Assets: $2.45 trillion

Country: China

The Industrial and Commercial Bank of China is the largest bank in the world if measured by profit and market capitalization. It comes in 4th place based on net assets. It is widely to considered to be the largest public company in the world. It is a state-owned commercial bank and operators 18,000 outlets and 106 overseas branches globally. The bank serves 2.5 million corporate customers and 150 million individuals.

3

BNP Paribas

Assets: $2.54 trillion

Country: France

Headquartered in Paris, France, BNP Paribas is the third largest bank in the world in terms of net assets. BNP Paribas is known for escaping the 2007-2009 credit crisis unscathed and even even reported a $3 billion Euro net operating profit in 2008 when most of the world’s banks were falling apart. In 2013 BNP Paribas was awarded the Bank of the Year award by the prestigious International Financing Review.

2

HSBC

Assets: $2.55 trillion

Country: United Kingdom

HSBC is the largest bank in the United Kingdom and the second largest in the world in terms of net assets. The name HSBC comes from its founding name, The Hongkong and Shanghai Banking Corporation since being founded in London in 1991. In a short 20 years, it has quickly become one of the key players in the banking industry. Shockingly, it is also the 6th largest public company in the world and serves 89 million customers in 85 countries around the world.

1

Deutsche Bank

Assets: $ 2.79 trillion

Country: Germany

Deuusche Bank is the largest bank in the world in terms of net assets. It is also the largest foreign exchange dealer in the world and has roughly 21% of the market share. The bank is headquartered in Frankfurt, but has a presence in nearly every country in the world. Worldwide, the company employs more than 100,000 individuals in more than 70 countries.

 

Featured Image: Flickr by gravitat-OFF