Today, we feature the top 20 banks in the world based on total assets, as ranked in the April 2022 S&P Global Market Intelligence report.
S&P Global Market Intelligence based the rankings on a bank’s reported assets, which include the number of loans, mortgages, and credit card accounts.
Here is the list of the largest banks in the world in terms of asset size, with over a trillion-dollar in total asset base.
Key Takeaways
- The Industrial and Commercial Bank of China Limited (ICBC) again leads the list of the largest banks in the world by total assets, with US$5.5 trillion in asset size.
- US-based JPMorgan Chase holds the fifth position with total assets of $3.7 trillion.
- JPMorgan Chase leads the list of the largest banks in the world by market cap, having over $400 billion in market capitalization.
Largest Banks in the World By Total Assets
Below is the list of the top 20 largest banks in the world by assets in 2021:
| Rank | Bank Name | Total Assets (2021) (US$ Billion) |
| 1 | Industrial and Commercial Bank of China Limited | 5,536.53 |
| 2 | China Construction Bank | 4,762.46 |
| 3 | Agricultural Bank of China | 4,575.95 |
| 4 | Bank of China | 4,206.53 |
| 5 | JPMorgan Chase | 3,743.57 |
| 6 | Mitsubishi UFJ Financial Group | 3,176.84 |
| 7 | Bank of America | 3,169.50 |
| 8 | HSBC | 2,953.64 |
| 9 | BNP Paribas | 2,905.83 |
| 10 | Crédit Agricole | 2,674.35 |
| 11 | Citigroup Inc. | 2,291.41 |
| 12 | SMBC Group | 2,176.94 |
| 13 | Japan Post Bank | 1,998.98 |
| 14 | Postal Savings Bank of China | 1,981.53 |
| 15 | Mizuho Financial Group | 1,957.87 |
| 16 | Wells Fargo | 1,948.07 |
| 17 | Barclays | 1,874.40 |
| 18 | Bank of Communications | 1,836.38 |
| 19 | Banco Santander | 1,814.90 |
| 20 | Groupe BPCE | 1,724.12 |
1. Industrial and Commercial Bank of China Limited
Industrial and Commercial Bank of China Ltd. (ICBC), headquartered in Beijing, China, is the largest bank in the world, with total assets of US$5.5 trillion.
Founded in January 1984, the bank provides personal and commercial banking, wealth management, and treasury management services.
It has about 5 million corporate customers, 443 million individual customers, and a network of 17,000 domestic and 399 overseas branches.
ICBC, which had revenues of $208.1 billion in 2022, is traded on the Main Board of The Stock Exchange of Hong Kong Limited and the Shanghai Stock Exchange.
2. China Construction Bank
China Construction Bank Corporation, founded in October 1954, is a large-scale commercial bank offering personal and corporate banking and treasury operations, providing asset management, finance leasing, trustee and other financial services.
It has around 13,629 domestic branches and overseas branches in cities like London, Barcelona, Hong Kong and Singapore.
The bank, which is listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, had a revenue of $202.1 billion in 2022.
3. Agricultural Bank of China
Agricultural Bank of China, headquartered in Dongcheng District, Beijing, provides international commercial banking financial services, including personal and corporate banking, and treasury operations.
Founded in July 1951, it has 320 million retail customers, 2.7 million corporate clients, and nearly 24,000 branches. Its 2022 revenue was $107.64 billion.
The bank is listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange.
4. Bank of China
Bank of China is a state-owned commercial bank established in 1912 and headquartered in Beijing.
The fourth largest bank in the world, it offers deposits, loans, fund settlement, foreign currency transactions, trade-related products, derivative products and others.
It was listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange in 2006. In 2022, the bank had a total revenue of $152.4 billion. Â
5. JPMorgan Chase
JPMorgan Chase, one of America’s big four banking corporations, is a financial holding company that offers financial and investment banking services.
Headquartered in New York, it was founded in 2000 after the merger of Chase Manhattan Corporation and J.P. Morgan & Co.
The largest publicly-traded company in the world, JPMorgan Chase, had a revenue of $124.5 billion in 2022.
6. Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group is a Japanese bank holding and financial services company. Founded in 2005, it is one of the largest banks in Japan.
The bank offers consumer and commercial banking, corporate and investment services, transaction banking, wealth management, securities, etc.
Headquartered in Tokyo, it is currently listed on the New York Stock Exchange under MUFG. Its 2022 revenue reached $48.3 billion.
7. Bank of America
Bank of America, founded in 1904, is currently the second largest financial institution in the USA, serving over 10% of all American bank deposits.
One of the world’s biggest financial institutions, the Charlotte, NC-based bank serves consumers, businesses, corporations and governments through its array of banking and nonbank financial services.
It trades on the New York Stock Exchange (NYSE) under the ticker symbol BAC. In 2022, its revenue reached $96.8 billion.
8. HSBC
HSBC Holdings provides banking and financial services through its retail banking and wealth management, commercial banking, global banking and markets, and global private banking.
Founded in 1865 in Birmingham, UK, it serves around 39 million customers worldwide through a network spanning over 60 countries. Its 2022 revenue reached $59.3 billion.
The bank’s shares are listed on the New York Stock Exchange. It has a primary share listing on the London Stock Exchange and branch listings on the Hong Kong Stock Exchange and Bermuda Stock Exchange.
9. BNP Paribas
BNP Paribas, or Banque Nationale de Paris, is a major international bank that offers retail banking, corporate and investment banking, private banking and asset management.
Founded in 1953 in France, the bank is among the largest investment banks in the world, with locations in 64 countries and territories on five continents.
BNP Paribas, whose shares are listed on the Paris Stock Exchange, had revenues of $127.4 billion in 2022.
10. Crédit Agricole
Crédit Agricole, founded in 1894, is the world’s largest cooperative financial institution and the second-largest French bank after BNP Paribas.
Headquartered in Montrouge, France, Crédit Agricole provides international banking and financial services, including retail and corporate banking and investment banking.
Crédit Agricole consists of a network of Crédit Agricole local banks, 39 Crédit Agricole regional banks, and an intermediate holding company, Crédit Agricole S.A., which is listed on the Paris stock exchange and a member of the Dow Jones.
In 2022, the bank had a revenue of $73.6 billion.
11. Citigroup Inc.
Citigroup Inc. is a diversified financial services holding company that offers investment banking, corporate banking, and cash management products and services to consumer and corporate clients.
Founded in 1812 and headquartered in New York, Citigroup has a global network that spans 160 countries, with 2,649 branches in 19 countries, including 723 in the United States.
The company, listed on the New York Stock Exchange, had a total revenue of $79.9 billion in 2022.
12. SMBC Group
The SMBC Group offers commercial and investment banking services to corporate, institutional, and municipal clients.
Headquartered in Tokyo, Japan, it operates in over 40 countries, offering commercial banking, leasing, securities, and consumer finance. Its total revenue in 2022 was $35.5 billion.
The banks’ common shares are listed on the Prime Market of the Tokyo Stock Exchange and the Premier Market of the Nagoya Stock Exchange.
13. Japan Post Bank
Japan Post Bank is a major, fully government-owned financial institution established in 2006 but began in 1875 as a postal savings system.
It offers a variety of financial products and services in almost 24,000 branches across Japan. The services include deposit accounts, credit cards and loans, investment products, time deposits, and pension accounts.
The bank is listed in the Tokyo Stock Exchange Prime Market. In 2022, it posted revenues of $11.81 billion.
14. Postal Savings Bank of China
Postal Savings Bank of China, whose roots can be traced to 1919, is a Beijing-based bank officially established in March 2007.
One of the largest commercial banks in China, it offers a range of financial services, including personal and corporate banking and treasury.
The bank, which is on the Hong Kong Stock Exchange and Shanghai Stock Exchange, had revenues of $77.6 billion in 2022.
15. Mizuho Financial Group
The Mizuho Financial Group is a holding company that provides banking, trust banking, asset management, venture capital and securities, etc.
Founded in 2003, it is one of the largest customer bases in Japan, with 800 offices and 55,000 experts located anywhere in the world.
The Mizuho Financial Group is listed on the New York Stock Exchange under the stock symbol MFG. It had a revenue of $26.8 billion in 2022.
16. Wells Fargo
Wells Fargo, founded in 1852, is a diversified financial service holding company that provides retail and wholesale banking and wealth management services to individuals and businesses.
Headquartered in San Francisco, the company operates in 35 countries and has over 70 million customers worldwide.
Wells Fargo, whose common stock (WFC) is traded on the New York Stock Exchange, had a revenue of $84.1 billion in 2022.
17. Barclays
London-based Barclays PLC, founded in 1736, is a bank holding company offering retail banking, credit cards, corporate and investment banking and wealth management services.
The fifth-largest bank in Europe, Barclays operates in 55 countries and has over 4,000 branches worldwide, with about 1,600 in the United Kingdom.
Barclays, which had a revenue of $30.2 billion in 2022, has listings on the London Stock Exchange and the New York Stock Exchange.
18. Bank of Communications
Shanghai-based Bank of Communications, the fifth-largest Chinese banking group, provides banking and financial services, including commercial banking, securities, trust, fund management, and offshore financial services.
Founded in 1908, the bank now has a network of over 2,800 branches in 80 major cities in China and overseas branches in New York, Tokyo, Singapore and offices in London and Frankfurt.
With revenues of $76 billion in 2022, Bank of Communications is listed on the Stock Exchange of Hong Kong and Shanghai Stock Exchange.
19. Banco Santander
Spanish banking giant Banco Santander, founded in 1970, offers retail and commercial banking services to consumers, companies and institutions worldwide.
Based in Santander, it has over 100 million customers and more than 14,000 branches worldwide.
With revenues of $78.2 billion in 2022, the bank is listed on the Continuous Market in Spain, Mexico and Warsaw. In New York and London, Banco Santander is listed as an ADR and CDI, respectively.
20. Groupe BPCE
Groupe BPCE (Banque Populaire Caisse d’Epargne), the second-largest bank in France and one of the biggest in the world, provides retail banking and insurance services.
Headquartered in Paris, it runs over 8,200 branches in France and serves over 35 million customers globally, from individuals to companies, investors and local government entities.
The company’s net banking income in 2022 was 25,705 million euros.
Largest Banks in the World By Market Cap
Below are the top banks in the world based on market cap. JPMorgan Chase leads the list of top 10 banks in the world, with over $400 billion in market capitalization.
| Rank | Bank | Market Cap |
| 1 | JPMorgan Chase (USA) | $400.17 B |
| 2 | ICBC (China) | $230.18 B |
| 3 | Bank of America (USA) | $225.60 B |
| 4 | Agricultural Bank of China (China) | $179.25 B |
| 5 | China Construction Bank (China) | $174.33 B |
| 6 | Bank of China (China) | $157.47 B |
| 7 | Wells Fargo (USA) | $154.70 B |
| 8 | HSBC (UK) | $150.92 B |
| 9 | Morgan Stanley (USA) | $140.12 B |
| 10 | Royal Bank Of Canada (Canada) | $125.64 B |
The market capitalization, or the market cap, is the value of a publicly listed organization. It refers to the total dollar market value of a company’s outstanding shares of stock.
It is calculated by multiplying the number of outstanding shares by the share price. Companies with larger market caps are regarded as safer investments.
What is the Richest Bank in the World?
With total assets of $5.5 trillion in 2021, Industrial and Commercial Bank Of China Ltd. (ICBC) is ranked the richest bank in the world.
It is also the largest bank in terms of annual revenues at $143 billion as of December 2022.
The bank, which serves over 500 million individuals and several million business clients, is a state-owned commercial bank with capital provided by the Ministry of Finance of China.
FAQs
KfW, a German state-owned investment and development bank in Frankfurt, is ranked the safest bank in the world for the fourteenth time in a row by US finance magazine, Global Finance. The rating was based on long-term foreign currency ratings from Fitch Ratings and Standard and Poor’s and long-term bank deposit ratings from Moody’s Investors Service.
Industrial and Commercial Bank Of China Ltd. (ICBC) is considered the most powerful bank in the world due to its being the largest bank in the world in terms of total assets. Meanwhile, JPMorgan Chase & Co. was ranked as the world’s most systematically important bank by G20’s Financial Stability Board.
HSBC is ranked 8th in the listing of the top banks in terms of total assets in 2021, with a total of $2.9 trillion in assets as of December 2021. The bank had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA) in the same year.
London-based HSBC Holdings PLC is the largest European bank by assets, according to S&P Global Market Intelligence data. The bank also has the highest market capitalization among the largest banks in Europe, having a market cap of US$124.44 billion.
Spain-based Banco Santander operates in over 150 countries and has the largest branch network, with 14,680 branches worldwide. The Santander Group has businesses across Europe, North America, South America, and Asia.
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