Banks are all well-established and financially sound institutions that are likely to remain major players in the global financial system for many years to come.
Here are the top 5 Biggest banks in the world in 2023
- Industrial and Commercial Bank of China (ICBC)
- China Construction Bank (CCB)
- JPMorgan Chase
- Bank of America
- Mitsubishi UFJ Financial Group (MUFG)
See also: Top 5 most valued currencies
1. Industrial and Commercial Bank of China (ICBC)
With total assets of $4.4 trillion, ICBC holds the distinction of being the world’s largest bank. Established in 1984, its headquarters are located in Beijing, China. ICBC provides a comprehensive range of financial products and services to both domestic and international customers, catering to the needs of businesses and individuals alike.
2. China Construction Bank (CCB)
With total assets reaching a staggering $4.2 trillion, CCB stands as the second-largest bank globally. Established in 1954 and headquartered in Beijing, China, CCB operates as a prominent financial institution. It caters to the needs of both businesses and individuals, offering a diverse array of financial products and services within China and across the globe.
3. JPMorgan Chase
With total assets amounting to a staggering $3.7 trillion, JPMorgan Chase holds the distinction of being the largest bank in the United States. Its headquarters are located in the bustling city of New York and were established in 2000 following the merger of Chase Manhattan Corporation and J.P. Morgan & Co.
JPMorgan Chase stands as a prominent provider of an extensive array of financial products and services. Catering to both businesses and individuals, it serves customers not only within the United States but also on a global scale.
4. Bank of America
With total assets amounting to $3.1 trillion, Bank of America holds the position of the second-largest bank in the United States. Founded in 1904, the bank is headquartered in Charlotte, North Carolina.
Bank of America is widely recognized for its diverse array of financial products and services catering to both businesses and individuals. It operates not only within the United States but also extends its offerings to clients across the globe.
5. Mitsubishi UFJ Financial Group (MUFG)
MUFG, with total assets of $2.9 trillion, holds the position of the largest bank in Japan. It is headquartered in Tokyo and came into existence in 2005 when Mitsubishi Bank, Tokyo Bank, and UFJ Bank merged together. MUFG provides a diverse range of financial products and services, catering to the needs of businesses and individuals both within Japan and across the globe.
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Other notable banks that are ranked in the top 10
- Wells Fargo (United States)
- Citigroup (United States)
- BNP Paribas (France)
- HSBC Holdings (United Kingdom)
- Banco Santander (Spain)
- China Merchants Bank (China)